According to a new market report published by Transparency Market Research “Cheese Powder Market By Type(Parmesan, Cheddar, Mozzarella, Blue and others) By Application (Sauces and Dips, Sweet and Savory Snacks, Bakery and Confectionery and Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016– 2024”, the global cheese powder market was valued at USD 256.1 million in 2015 and is expected to reach USD 481.0 million by 2024, growing at a CAGR of 7.3% from 2016 to 2024.
Cheese is highly nutritious and it is rich in vitamins and minerals. It is made by dehydrating the cheese. High quality cheese powder consists of anti-caking additives, salt and whey. Cheese powder has become the best suitable substitute for hard cheese, and also a widespread ingredient in our modern pattern of consumption.
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By geography, the global cheese powder market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In North America and Europe the demand for cheese powder induced food has been traditionally high. As a result, these regions are accountable for a major portion of the market share of cheese powder, but the market in Asia Pacific is expected to grow at a higher rate. The North America region includes the U.S. and the Rest of North America. This region displayed the highest market share in the cheese powder market in 2015 in terms of market revenue, much because of the fact that it is the largest exporting and manufacturing geographical region in case of cheese powder. Owing to the change in lifestyle of consumers and a rapidly growing fast food market in this region, the cheese powder market is expected to grow at a stable rate during the forecast period.
The Europe market also contributes to a decent share of the global sales value of the cheese powder market. This region is segmented into the U.K, Germany, France, Russia, Italy and the Rest of Europe. This region is expected to grow consistently during the forecast period owing to high demand for fast food and is expected to increase further.. Moreover, the increase in per capita income is also one of the factors boosting the growth of the Europe cheese powder market.
Asia Pacific includes India, China Japan, and the Rest of Asia Pacific. This region is expected to witness the fastest growth rate during the forecast period. This is attributed to the growing opportunities in the developing countries through continuous research and development, and also due to the rising demand for convenience food, the rising disposable income, the increasing influence of western diet patterns, and a resultant change in diet preferences. This growth in demand is expected to boost the market of cheese powder during the forecast period in this region.. Asia Pacific has the highest growth in the fast food industry. China holds the largest market for cheese powder induced food in the Asia Pacific region, followed by India and Japan. Mass scale raw materials production in Asian nations has resulted in a large scale manufacturing at a reasonable cost for cheese powder in Japan.
Furthermore, it is observed that the change in lifestyle in the countries in Asia Pacific, Latin America and Middle East and Africa regions have had a positive impact on the cheese powder market. In addition, the growth in urbanization and a rapidly developing fast food culture among large sections of the population has boosted the cheese powder market in the regions of Asia Pacific, Middle East and Africa and Latin America. The Middle East region is anticipated to register healthy growth rates in the near future.
The leading manufacturers in the global cheese powder market have been adopting strategies such as merger and acquisition, new product introductions, and product line expansion. The major market participants profiled in this report are Lactosan A/S (Denmark, U.K., Russia, Japan), The Land O’ Lakes (Arden Hills), Kerry Group(Ireland), Archer Daniels Midland Company (United States), Bluegrass Dairy and Food, Inc. (Northfield, Illinois, U.S.), DairiConcepts, L.P. (Springfield, Missouri) and Krafts Food Group (U.S.)
Global Cheese Powder Market, by Product type
Global Cheese Powder Market, by Application
- Sauces and Dips
- Sweet and Savory snacks
- Bakery and Confectionery
Global Cheese Powder Market, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
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