Global Cheese Powder Market Size, Share, Growth Analysis, By Product(Cheddar, Parmesan), By Application(Snacks, Bakery & Confectionery) - Industry Forecast 2024-2031

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).

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. 'Lactosan A/S (Denmark)', 'Land O'Lakes, Inc. (US)', 'Kraft Heinz Company (US)', '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)'

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.

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.

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.