(Entertainment-NewsWire.com, October 04, 2019 ) The report "Cheese Powder Market by Type (Cheddar, Mozzarella, Parmesan, American, and Blue), Application (Bakery & Confectionery, Sweet & Savory Snacks, Sauces, Dressings, Dips & Condiments, and Ready Meals), and Region – Global Forecast to 2022", The cheese powder market is projected to grow at a CAGR of 6.82% from 2016 to 2022, to reach USD 604.1 Million by 2022. The growth of the cheese powder market is dependent on the growth of the processed food and convenience food industry. The demand for cheese powder as a key ingredient in various food products is rising globally. Factors such as increase in global convenience foods and growth in the fast food industry are expected to increase the demand for cheese powder.
Rising demand for convenience food and growing fast food industry to drive the global cheese powder demand to touch USD 604.1 million by 2022
Cheese powder is dried/dehydrated cheese in powdered form which has numerous applications in the manufacturing of food products such as sweet and savory snacks, sauces, dressings, dips, and ready-to-eat meals. They enhance the aesthetic appeal and organoleptic properties to products, such as texture and taste. The most widely used cheese powders in the market are cheddar, mozzarella, parmesan, American cheese, and blue cheese.
The global cheese powder market is projected to reach USD 604.1 million by 2022, at a CAGR of 6.82% from 2016 to 2022. The demand for cheese powder is expected to grow, owing to the growth of the fast food industry, globally. The changing dietary preferences of people have led to a significant rise in the consumption of convenience and fast food worldwide, which, in turn, is projected to increase the demand for cheese powder.
Stringent labelling policies and regulations act as the major challenge for the market
The US Government has stringent policies for the labeling of packages containing cheese products. While packaging cheese products, the label must contain the accurate process through which the cheese has been processed and manufactured, such as ‘pasteurized’, ‘processed’, or ‘blended’. It is also necessary that any cheese made from vegetables/ fruits/ meat should be labeled by these items. The regulation states that there should also be a standard font size on the labels, making it easily readable to the consumers. Adhering to various labeling regulations may increase the cost of packaging and labeling, which, in turn, affects the price of the final products. This can lead to low acceptance by consumers, which poses as a challenge for the cheese powder market.
The demand for cheese powder is high in the region, owing to the rising consumption of fast food among people. Kraft Foods Group, Inc. (US) is one of the major producers of cheese powder in the US, and supplies cheese powder to the food manufacturing industry. In 2016, Europe and North America are collectively estimated to account for more than 70% of the global cheese powder production. Countries such as the US and those in the European Union are the largest cheese powder exporters in the world.
Rise in convenience food demand and lower cost of cheese powder production in Asia-Pacific offers growth opportunities to the cheese powder manufacturers
Japan is estimated to constitute the largest country market in the Asia-Pacific region in 2016. Large-scale raw material production in the Asian countries has led to a large-scale production at a competitive cost of cheese powder in the country. In 2016, North America is estimated to be the largest market share globally, as it is the largest producing and exporting region of cheese powder.
Key players such as include Land O’Lakes, Inc. (US), Kraft Foods Group, Inc. (US), Kerry Group plc (Ireland), DairiConcept (US), and Archer Daniel Midland (US) have a strong presence in the Americas, followed by the Asia-Pacific region. These companies are focusing on strategizing their growth plans to expand their operations in the cheese powder market.
