The global cheese powder market size is poised to reach USD 1.83 billion by 2025, progressing at a CAGR of 7.5% during the forecast period. The market is likely to witness healthy growth over the coming years owing to surge in requirement of cheese powder in a wide range of snacks, especially in developed markets. Rising disposable income coupled with increasing share of working class professionals will boost the growth of the market over the forecast period.
Consumers around the world are demanding convenient solutions that can complement their busy lifestyles and simplify their lives. Growing focus of consumers on nutritional values, such as high vitamins and proteins and low calories, offered by the product is expected to positively influence the market. However, consumers are increasingly inclining towards vegan diet, owing to environment protection and animal rights. This, in turn is estimated to hinder the growth of the market over the forecast period.
Initiatives taken by manufacturers to offer novel flavors, better quality, and attractive packaging are anticipated to stimulate the growth of the market over the forecast period. The global cheddar cheese powder segment is projected to expand at a CAGR of 6.0% during the forecast period, primarily driven by high demand in developed economies.
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According to the U.S. Centers for Disease Control and Prevention (CDC), food allergy rates are increasing at a high rate in matured markets. Furthermore, Food Allergy Research & Education (FARE) reports that more than 15 million Americans have food allergies, which has forced cheese powder manufacturers to provide allergen free products to satisfy the demand of the populace. Widening base of health conscious people, asking for allergen free, can offer significant growth opportunities for the market.
Further key findings from the report suggest:
• The cheese powder market for bakery and confectionery segment is poised to reach USD 410.6 million by 2025, at a CAGR of 7.1% from 2019 to 2025
• Parmesan cheese powder is likely to represent over one fourth of the overall revenue by 2025. The segment is expected to lose its market share to Swiss, Romano, and Blue cheese powder owing to increasing demand of these products in developed regions
• Europe held the largest share in 2018 and is expected to register considerable growth over the forecast period. Rising preference for protein-based beverages among fitness-conscious consumers is estimated to contribute to the growth of the region
• The cheese powder market in Germany is anticipated to reach USD 171.7 million by 2025, owing to rising demand for private labels as customers do not consider branding important for cheese powders and low costs, coupled with increasing adoption of cheese powder in various end use applications, is projected drive the market
• The market for cheese powder is highly competitive in nature and is marked by the presence of prominent market players with extensive product portfolios. The key market participants include Lactosan, Kraft, Land O’ Lakes, and Archer Daniels Midland Company (Wild Flavor).
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Table of Contents:
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Market Size & Growth Prospects, 2014 – 2025
3.3 Market Dynamics
3.3.1 Market Driver Analysis
22.214.171.124 increasing demand of ready to eat meals and convenience food uplifts demand
126.96.36.199 rapid growth of fast food industry
188.8.131.52 product innovations and greater shelf lives is expected to boost demand
184.108.40.206 Improved taste of processed cheese and Packaging
3.3.2 Market restraint Analysis
220.127.116.11 incraesing occurrence of lactose intolerants
18.104.22.168 increasing number of vegans
3.4 Value Chain Analysis
3.5 List of Regulations
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