As
cheese adds nutrition, taste, and a longer shelf life to food
products, its demand in a wide array of food and beverages is rising
substantially. Consequently, the global cheese powder market is also
witnessing a tremendous increase in its valuation and expansion in
its market size. Cheese powder is mainly utilized to add flavors to
instant food items, baked food, and seasonings. With the changing
lifestyles, where consumers do not have enough time to cook a
complete and nutritious meal, they tend to cover up with ready-to-eat
meal with nutritious value, which requires cheese powder.
As
per Transparency Market Research (TMR), the worldwide market for
cheese powder is anticipated offer an opportunity worth US$355.9 mn
by 2017. Further, the market is projected to strengthen at an
impressive CAGR of 13.70% over the period from 2017 to 2022 and reach
a value of US$677 mn by the end of 2022.
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The
global market for cheese powder is broadly assessed on the basis of
the type of the product, end user, and the application. Based on the
type of product, the market is segmented into Swiss cheese powder,
cheddar cheese powder, mozzarella cheese powder, parmesan cheese
powder, and blue cheese powder. The demand for cheddar cheese powder
is comparatively greater than other types of cheese powder, making it
the leading product segment of the global cheese powder market.
Cheddar cheese powder is likely to remain witnessing a strong demand
over the next few years, thanks to the increasing preference for
convenience food items across the world.
By
the application, the worldwide market for cheese powder is
categorized into sweet and savory snacks, bakery and confectionery,
ready meals, sauces, dips, dressings, and condiments. Sauces dips,
dressings, and condiments are reporting the most prominent demand for
cheese powder, worldwide, and is closely followed by sweet and savory
snacks. Various industries, such as food and beverages, and
individual consumers have surfaced as the key end user of cheese
powder, globally.
In
terms of the geography, the worldwide market for cheese powder is
spread across Europe, Asia Pacific excluding Japan (APEJ), North
America, Latin America, the Middle East and Africa (MEA), and Japan.
Proliferating at a CAGR of 12.70% between 2017 and 2022, North
America, the current market leader, is anticipated to continue on the
top over the next few years. The increasing preference for
convenience food items among consumers is the key factor behind the
substantial rise on this regional market. With the augmenting
consumer pool of ready-to-eat meals, Europe is also registering a
steady rise in its cheese
powder market.
Among
other regional markets, Asia Pacific excluding Japan is expected to
demonstrate the most promising opportunities for growth in the near
future, owing the high population density in this region. The rise in
disposable income of consumer, enabling them to afford expensive food
products, is also projected to propel the APEJ market for cheese
powder in the years to come.
Kraft
Heinz Co., Kerry Group Plc, Thornico A/S, Dairy Farmers of America
Inc., Land O'Lakes Inc., Bluegrass Dairy & Food Inc., All
American Foods Inc., Aarkay Food Products Ltd., Kanegrade Ltd., and
Archer-Daniels-Midland Co. are some of the leading cheese powder
vendors across the world.
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