The Cheese Powder Market is expected to be valued at USD 684 million in 2023, exhibiting growth at an impressive CAGR of 14.2% between 2023 and 2033. The overall market size is expected to reach a valuation surpassing USD 2,271.9 million by the year 2033.
Cheese intake has risen significantly in recent years as a consequence of the swift growth of service and fast food outlets. And the rapid acceptance of culinary cultures 9PAby the countries has also accelerated growth in the market for cheese ingredients and powders in the local fresh market.
The growing demand for cheese powder can also be attributed to its capacity to provide flavor and pleasant taste to several traditional and non-traditional dishes.
Over the projection period, the growing trend of veganism is also turning out to be a major determinant for the global cheese powder market opportunities. On account of this, the demand for cheese powder dairy ingredients is expected to boost the market. As a dietary staple and gourmet cuisine, consumption of cheese is anticipated to surge, especially among millennials.
| Attributes | Details |
|---|---|
| Cheese Powder Market Share (2021) | USD 5 billion |
| Cheese Powder Market Size Value (2023) | USD 684 million |
| Cheese Powder Market Size Value (2033) | USD 2,271.9 million |
| Cheese Powder Market Growth Rate (2023 - 2033) | 14.2% |
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The cheese powder market has grown by 13.9% globally in the first half of 2021. However, this growth is not uniformly distributed across all geographical areas, with the developing markets registering greater growth rates of 15.4%. Thus, there will be a 154 BPS point difference between the predicted and projected growth in H1 2022.
The primary causes of this variation in the cheese powder market growth rate are ascribed to the market's slow or rapid uptake during the first half of the projected period as a result of improving end-user demand in important economies and their expanding population.
Will the economic repercussions stimulated by the pandemic suppress or boost growth? Detailed information on this is compiled in the cheese powder market analysis, which is interspersed with relevant statistics and graphs. Besides underscoring the impact of veganism, the study also highlights the correlation between the COVID-19 aftermath and change in consumer preference. It gauges the extent to which stockpiling has affected the global sales of cheese powder.
Cheese powder is often used in food and beverages as a flavor agent. Cheese, cream cheese, and anti-caking additives make up a high-quality cheese powder. Hence, the sales of cheese powder are expected to accelerate over the forecast period.
China and India, in particular, are both experiencing a growth in their consumption patterns, which is driving up demand for cheese powder. Numerous other market segments should also perform well and have bright development potential in the second half of the projected period.
The market for cheese foam powder is considered a lavish food ingredient and is being driven by rising disposable money, urban lifestyles, and to some degrees trending and innovative street food items.
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Despite several promising developments, the business is still expected to face significant obstacles, such as shifting customer preferences, strict trade restrictions, and a lack of security in the supply of raw materials and other manufacturing inputs.
Nevertheless, throughout the anticipated period, as consumers become more aware of the negative effects of cheese on health-specifically, obesity, high blood cholesterol, and heart issues-it is anticipated to restrain the cheese powder market growth.
The sizeable population of lactose-intolerant persons might hamper the growth of the worldwide market for cheese components. The expanding non-vegan population is another issue that might hinder the expansion of the global cheese powder market opportunities as well. However, the introduction of organic cheese powder with regional characteristics has the potential to increase income for members of the local market players significantly.
In terms of product type, the cheddar cheese powder segment is projected to expand at about 11% CAGR, boosting the cheddar cheese powder market. However, the parmesan cheese powder segment was up by 18%, propelling the demand in the cheese powder market
The white cheddar powder segment has always dominated the market for cheese powder, followed by mozzarella cheese. In response to an increase in the popularity of cheese dust flavor in a variety of food products, demand for cheese powder from producers of convenience foods is rising. In terms of demand, the top segments are soups, sauces, dips, and condiments, respectively.
Cheese is considered to be the most vital ingredient in French cuisine. As per the survey, consumers are preferring a combination of parmesan cheese and wine over traditional ones. Hence, the sales of cheese powder in the parmesan category as a seasoning ingredient will boost the cheese seasoning market. And on account of this, the parmesan cheese segment is expected to dominate the global market over the forecast period.
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The beverages and food business uses Kraft mac and cheese powder in a variety of ways. The demand for cheese powder products is increasing in the international market as more customers choose convenience foods with changing lifestyles and working environments. The product’s extended shelf life also elevates it to the top spot among packaged food products.
On the other hand, the growing popularity of eco-friendly and natural food items has created a booming market for organic products, including organic cheese powder, in the markets of both developed and developing economies. As per the market survey report conducted by the FMI, savoury snacks are the dominant segment among all the categories of the cheese powder market based on major applications.
As per FMI, collectively, North America and Europe are expected to be the largest market with increased cheese consumption. Sales of cheese powder in Europe reached a shipment of 34,222 Metric Tons, accounting for 34.78% of the global market.
North American cheese powder market accounts for over 32.14% of the share in the global market, followed by Europe. Sales are expected to surge due to the growing consumption of parmesan cheese across the United States, the United Kingdom, and other European countries.
FMI also identifies why North America’s dominance is sealed in the cheese powder market. How the proliferation of veganism in the United States and Canada supports growth in North America has been meticulously examined. In 2022, the United States cheese powder market registered a year-on-year growth of 15% in 2022. As per FMI, sales of cheese powder in North America are expected to reach nearly USD 200 million by 2022.
Asia Pacific is projected to be the fastest-growing global cheese powder market region. Growth is attributed to the rapidly growing fast-food industry and changing dietary preferences across China, India, and Australia.
Besides this, increasing consumption of fast food coupled with surging demand for cheddar cheese powder will boost the market. Improved standard of living, fast-paced lifestyles, and availability of online food channels will propel the demand in the region. Trends favoring sales in India and China, thus, propelling the Asia Pacific cheese powder market growth, also have been studied in detail.
Since the United States is the largest cheese powder market, most of the top firms in this sector have their headquarters there. The development of fresh, cutting-edge product lines by white cheddar powder producers in response to customers' shifting dietary patterns and preferences is what drives the cheese powder business in the global market.
Due to the presence of numerous cheese powder manufacturers, the said market is expected to be fragmented. Key players operating in the market are adopting strategies such as mergers, expansions, acquisitions, and partnerships to penetrate new markets and diversify their consumer base. They are also focusing on new product development to increase their brand exposure among customers.
The main tactics used by businesses to increase sales are new product introductions, business extensions, purchases, and partnerships. For instance, Uhrenholt collaborated with DKSH in 2020, a Swiss holding firm offering targeted market growth services.
To increase their market share, cheese cream powder producers are frequently releasing new varieties in the present market. Low-fat and low-sodium cheese is used as the cheese constituents in cheese powders, which are advertised as reduced-fat or reduced-sodium items providing it with an edge over traditional products and determining the cheese powder market trends.
Another factor anticipated to contribute to the cheese powder market trend is consumers' understanding of the product's high protein, and calorie content as well as other nutritional benefits. To expand the development and breadth of their business, key cheese powder market players are also attempting to provide improved product quality and tastes, along with appealing and durable wrapping.
Growing cooperation between regional farmers and significant milk and dairy product processing companies is also anticipated to support the cheese powder market growth and expansion. However, the dominance of the large cheese processing units is attributed to the growing availability of milk free of synthetic taints, unsaturated fatty acids, which induce off-flavors in cheese, and medications, which restrict bacterial development and invariably increase the end value of the dry cheese powder.
Recent Developments in the Global Cheese Powder Market
The market is valued at USD 684 million in 2023.
Almarai, Kerry Group PLC, and Lactosan A/S are key market players.
The cheddar cheese powder segment expands at 11% CAGR.
North America dominates and accounts for over 32.14% in 2022.
The market is estimated to reach USD 2,271.9 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Natural 5.2. Processed 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 6.1. Cheddar 6.2. Feta 6.3. Parmesan 6.4. Mozzarella 6.5. Roquefort 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 7.1. Cow Milk 7.2. Buffalo Milk 7.3. Sheep Milk 7.4. Goat Milk 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Supermarkets 8.2. Food Specialty Stores 8.3. Hypermarkets 8.4. Convenience Stores 8.5. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 9.1. Savoury Snacks 9.2. Extruded Snacks 9.3. Wafer 9.4. Chips Dusting 9.5. Instant Soup Premixes 9.6. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. The Kraft Heinz Company 20.2. Almarai 20.3. Kerry Group PLC 20.4. Lactosan A/S 20.5. Kanegrade Limited 20.6. Land O'Lakes, Inc. 20.7. Commercial Creamery Company Associated Milk Producers Inc. 20.8. Arla Foods 20.9. GCMMF or Amul 20.10. Archer Daniels Midland 21. Assumptions & Acronyms Used 22. Research Methodology
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Cheese Powder Market
