USD 4.47 billion
Global Cheese Powder Market Size, Share, Growth Analysis, By Product(Cheddar, Parmesan), By Application(Snacks, Bakery & Confectionery) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2215 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
68 |
Figures:
75
Global Cheese Powder Market Insights
Global Cheese Powder Market size was valued at USD 4.47 billion in 2022 and is poised to grow from USD 4.76 billion in 2023 to USD 7.91 billion by 2031, at a CAGR of 6.54% during the forecast period (2023-2031).
The global cheese powder market is a thriving industry that has been experiencing significant growth in recent years. Cheese powder is a versatile ingredient that is widely used in various food applications such as snacks, bakery, sauces, dressings, and ready-to-eat meals, among others. The market's purpose is to cater to the increasing demand for convenience food products and the growing trend of using natural and healthy ingredients in food products. One of the main drivers of the cheese powder market is the rising demand for convenience food products worldwide, as cheese powder, is a convenient and cost-effective solution for manufacturers looking to add cheese flavor to their products. Additionally, the trend of using natural and healthy ingredients in food products has also been driving the growth of the market, as cheese powder is an excellent source of protein and other essential nutrients.
However, the market also faces some restraints, including the high production costs of cheese powder and the availability of substitute products. Despite these challenges, the market is expected to witness significant growth in the coming years due to the increasing demand for natural and organic cheese powder and the expanding food industry in developing countries. Key trends in the market include the increasing popularity of vegan cheese powder and the rising demand for customized cheese powder blends. Opportunities in the market include the development of new and innovative products, such as cheese powder with different flavors and textures, and the expansion of distribution channels to reach a wider customer base.
US Cheese Powder Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Cheddar
Fastest Growth
Swiss
Growth Rate
6.54% CAGR
Global Cheese Powder Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Cheese Powder Market Size By Product ($ Bn)
Global Cheese Powder Market By Product (%)
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Global Cheese Powder Market Segmental Analysis
Global Cheese Powder Market is segmented on the basis of product, application, and region. By product, the market is segmented into Cheddar, Parmesan, Blue Cheese, Romano, Swiss, and Others. By application, the market is segmented into snacks, bakery & confectionery, dips/dressings/dry mix/sauces, flavors, ready to eat, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa, and Latin America.
Cheese Powder Market Analysis by Product
In 2021, the cheddar cheese segment dominated the global cheese powder market, accounting for 40% of the total revenue. This was attributed to the increasing use of cheddar cheese in fast food and convenience food products, as it is a hard cheese that has a long shelf life and is known for its distinct aroma, taste, and flavor. Additionally, the demand for premium and unique flavors is driving the growth of this segment.
The Swiss cheese segment is expected to witness the highest compound annual growth rate (CAGR) of 7.6% during the forecast period. Swiss cheese is popular for its mild, nutty, and sweet flavor, which is not too overpowering. This unique flavor profile makes it a preferred choice among consumers, leading to an increase in demand for the segment. Furthermore, Swiss cheese has versatile applications, including its use in dips, spreads, appetizers, mayo dips, and cream cheeses, among others, contributing to its expected growth in the market.
Cheese Powder Market Analysis by Application
The ready-to-eat segment dominated the global market. Cheese powders have a longer shelf life than fresh cheese and can be added to convenience foods and Cheddar for preservation. Cheese powders are consistent in quality, can be added in controlled amounts, and do not require refrigeration, making them ideal for use in packaged ready-to-eat foods.
The snacks segment, with a revenue share of over 26.4% in 2021, led the market and is predicted to grow rapidly during the forecast period. With the increase in the working-class population, snacks are becoming a popular meal replacement option in developed regions. According to the 2021 State of Snacking report by Mondelēz International, 85% of people worldwide consume at least one snack daily. The use of whole food ingredients and clean labels in popular snacks such as popcorn, pretzels, pasta, chips, and hummus are expected to boost segment growth.
The bakery and confectionery segment is projected to grow at a CAGR of 6.3% during the forecast period of 2022-2030. The shift in global consumer preferences toward baked goods is expected to boost the industry's growth. Therefore, manufacturers are expected to benefit from increased product demand in the bakery and confectionery segment, both on the domestic and industrial levels, during the projected timeframe.
Global Cheese Powder Market Size By Product , 2023 (%)
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Global Cheese Powder Market Regional Insights
Europe dominated the global cheese powder market. The market growth in the region is attributed to the usage of processed cheese in restaurants and cafes. According to a report published by the European Food Safety Authority (EFSA) in 2022, nearly 50% of people in Europe prefer reduced-fat food products. As a result, low-sugar or low-fat diets are more popular in the region. In addition, manufacturers are expected to introduce new cheese powder products to cater to the growing lactose-intolerant population and consumers who prefer reduced-sugar foods.
North America is projected to grow at a CAGR of 6.6% during the forecast period. The market growth in the region is driven by the large-scale consumption of dairy products, changing demographics, and quick access to dairy technologies. Moreover, the increasing preference of consumers for ready-to-eat food products due to their busy lifestyles is expected to boost the regional market in the upcoming years.
Global Cheese Powder Market Size By Region, 2024-2031
- Largest
- Fastest
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Global Cheese Powder Market Dynamics
Cheese Powder Market Drivers
Growing demand for convenience food
- The demand for convenience food is increasing due to the busy lifestyle of consumers. Cheese powder is used in a variety of ready-to-eat foods such as mac and cheese, popcorn, and instant soups, making it a convenient ingredient for consumers. For example, in 2020, Nestle launched Maggi Fusian Hong Kong Spicy Garlic, a ready-to-eat instant noodles product that contains cheese powder.
Increasing popularity of snacking
- The popularity of snacking has been increasing globally, with consumers seeking healthier options that are also convenient. Cheese powder can be used in snacks such as popcorn, chips, and crackers, making them a healthier and more flavorful option. For instance, in 2021, PepsiCo's Frito-Lay division launched Doritos 3D Crunch, a cheese-flavored snack that contains cheese powder.
Cheese Powder Market Restraints
Health concerns associated with excessive consumption of cheese
- While cheese powder adds flavor to foods, excessive consumption can have adverse health effects due to its high fat and sodium content. This can lead to an increase in health issues such as obesity, high blood pressure, and heart disease.
Price volatility of raw materials
- The prices of raw materials such as milk and cheese can be volatile, affecting the production cost of cheese powder. For example, the outbreak of the COVID-19 pandemic in 2020 led to an increase in milk prices, which affected the production cost of cheese powder.
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Global Cheese Powder Market Competitive Landscape
Global Cheese Powder Market is highly fragmented, with a large number of players operating in the market. Some of the key players in the market are focused on expanding their product portfolios and enhancing their distribution channels to gain a competitive edge in the market. They are also investing heavily in research and development activities to develop innovative products that cater to evolving consumer preferences and changing market trends. Additionally, mergers and acquisitions, partnerships, and collaborations are some of the key strategies adopted by these players to strengthen their market position and expand their global presence. Overall, the global market is highly competitive, and the players are striving to maintain their market share through various strategies and tactics.
Cheese Powder Market Top Player’s Company Profiles
- Archer Daniels Midland Company (US)
- Aarkay Food Products Ltd. (India)
- All American Foods, Inc. (US)
- Bluegrass Dairy & Food, Inc. (US)
- Commercial Creamery Company (US)
- DairiConcepts, LP (US)
- Delitia Parmigiano Reggiano S.p.A. (Italy)
- Dairy Farmers of America, Inc. (US)
- Kanegrade Limited (UK)
- Kerry Group plc (Ireland)
- Grande Custom Ingredients Group (US)
- Glanbia plc (Ireland)
- Lactalis Ingredients (France)
- Leprino Foods Company (US)
- Lactalis American Group (US)
- Warrnambool Cheese and Butter Factory Company Holdings Limited (Australia)
- Agropur Cooperative (Canada)
Cheese Powder Market Recent Developments
- In April 2024, Krystal, the original quick-service restaurant chain of the South, is excited to unveil its latest addition to the product lineup: Krystal-flavored premium whey protein powder! This new retail offering combines the nostalgic flavors of Krystal with the nutritional benefits of high-quality whey protein, catering to the tastes and health preferences of its loyal fans. The lineup features a variety of Krystal icons, including the OG Krystal, Cheese Krystal, Bacon Cheese Krystal, and Chili Cheese Pup.
- In February 2024, Heinz has collaborated with Cathedral City to introduce Cheesy Beanz. This New Product Development (NPD) features Cathedral City's Extra Mature Cheddar, which has been integrated into the sauce, along with a touch of cheese powder to enhance the flavor.
- In January 2024, Imagindairy, a foodtech startup focused on developing animal-free milk protein, disclosed that it has obtained FDA approval in the form of a "No Questions Letter." This approval indicates the safety of its products for consumer consumption. With this milestone achieved, the company is now poised to pursue commercial collaborations, market its products, and initiate sales with various food companies in the American market.
Global Cheese Powder Key Market Trends
- Growing demand for organic and clean-label cheese powder: Consumers are increasingly becoming aware of the ingredients used in their food and are seeking products that are natural and organic. This has led to a growing demand for organic and clean-label cheese powder products, which do not contain artificial colors, flavors, or preservatives.
- Increasing use of cheese powder in the pet food industry: Cheese powder is used in the pet food industry as a flavoring agent and a source of protein. With the increasing demand for pet food products, the use of cheese powder in the pet food industry is also growing. For example, in 2021, Purina launched Pro Plan LiveClear, a cat food product that contains cheese powder as a source of protein.
Global Cheese Powder Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global cheese powder market analysis, the market is expected to witness significant growth in the coming years, driven by the growing demand for convenience foods, the increasing popularity of ready-to-eat meals, and rising consumer preference for natural and organic food products. The market is highly competitive, with a large number of players operating in the market, and they are focused on expanding their product portfolios, enhancing their distribution channels, and investing in research and development activities to gain a competitive edge. Additionally, the increasing demand for cheese powder in emerging markets, coupled with the development of innovative products, is expected to drive the growth of the market during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.47 billion |
| Market size value in 2031 | USD 7.91 billion |
| Growth Rate | 6.54% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cheese Powder Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cheese Powder Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cheese Powder Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cheese Powder Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cheese Powder Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cheese Powder Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Cheese Powder Market Report Snapshots
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