USD 4.47 billion
Report ID:
SQMIG30I2215 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
68
|Figures:
75
Cheese Powder Market size was valued at USD 4.76 Billion in 2023 and is poised to grow from USD 5.07 Billion in 2024 to USD 8.43 Billion by 2032, growing at a CAGR of 6.54% during the forecast period (2025-2032).
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.
Global Market Size
USD 4.47 billion
Largest Segment
Cheddar
Fastest Growth
Swiss
Growth Rate
6.54% CAGR
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Global Cheese Powder Market is segmented by type, origin, application, milk source, and region. By type, the market is segmented into Cheddar, Mozzarella, Parmesan, American Cheese, Blue Cheese, Other Types, By origin, the market is segmented into Natural, Processed, By Application, the market is segmented into Bakery & Confectionery products, Sweet & Savory snacks, Sauces, dressings, dips & condiments, Ready Meals, Other Applications, By milk source, the market is segmented into Cow milk, Buffalo milk, Sheep milk, Goat milk, by region, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa, and Latin America.
Analysis by Type
In the realm of cheese market segmentation, the types can be broadly categorized into several segments. These include Cheddar, Mozzarella, Parmesan, American Cheese, Blue Cheese, and Other Types. Among these segments, Cheddar stands out as the dominant player, commanding a significant share of the market due to its versatility and widespread popularity. On the other hand, the fastest-growing segment is Mozzarella, driven by increasing consumption in both traditional dishes and contemporary culinary trends like gourmet pizzas and appetizers. This segmentation highlights Cheddar's established market position and Mozzarella's dynamic growth trajectory within the cheese industry.
Analysis by Origin
In the segmentation of cheese by origin, two primary categories emerge: Natural and Processed cheeses. Natural cheeses, which include varieties like Cheddar, Mozzarella, and Parmesan, are made from natural ingredients without significant alteration. This segment dominates the market due to consumer preferences for authentic flavors and artisanal production methods. Conversely, Processed cheeses, such as American Cheese slices and cheese spreads, are created by blending and pasteurizing natural cheeses with other ingredients to achieve specific textures and flavors. While Natural cheeses hold the dominant market share owing to their perceived quality and traditional appeal, Processed cheeses represent the fastest-growing segment. The growth is propelled by their convenience, longer shelf life, and suitability for various food applications in both home kitchens and food service industries. This segmentation underscores the contrasting yet complementary roles of Natural and Processed cheeses in the evolving cheese market landscape.
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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.
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Drivers
Globalization of cuisines on a large scale
The popularity of many cuisines around the world has led to the merging of traditional flavors and procedures with modern ingredients. Cheese powder has become a popular component in this rich culinary landscape, bridging different cuisines and cultures with ease. With the increasing diversity of food preferences and the ease of cross-cultural communication, home cooks and chefs alike are fusing flavors and cooking methods from many cultures. Cheese powder is a useful addition to the culinary arts since it has become known as a flexible ingredient that improves the flavor profiles of both conventional and creative recipes. Cheese powder has come to represent culinary innovation and adaptability, appearing in everything from the lively marketplaces of Asia to the sleepy towns of Europe.
Increasing popularity of snacking
Snacking has become more and more popular all around the world as people look for convenient, healthy options. Snacks like popcorn, chips, and crackers become tastier and more nutritious when cheese powder is added. For example, the Frito-Lay subsidiary of PepsiCo introduced Doritos 3D Crunch in 2021; this is a cheese-flavored snack that has cheese powder in it.
Restraints
Quality and authenticity
Creating authentic cheese flavor and ensuring consistent quality in cheese powder presents challenges for manufacturers. Cheese powder, used in snacks, sauces, and seasonings, relies on the specific cheese type—like cheddar or parmesan—for its complex flavor profile. Translating these nuances accurately into powder form is intricate, and variations in cheese type or processing can affect flavor consistency. Processing steps like drying and milling are crucial but must be carefully managed to preserve delicate flavor compounds. Cheese flavor is sensitive to environmental factors, such as temperature and humidity, which can degrade its complexity over time. To maintain authenticity, manufacturers must balance processing efficiency with flavor preservation and select appropriate packaging to ensure stable flavors throughout shelf life.
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 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
Cheese Powder Market Recent Developments
In September 2022, Kerry Group plc (Ireland) significantly strengthened its position in the cheese powder market by acquiring The Kraft Heinz Company's powdered cheese business and related assets. This strategic acquisition boosts Kerry's manufacturing capacity expands its customer base in the snacking category, and enhances its presence in emerging markets, solidifying its status as a key player in the cheese powder industry.
In March 2023, Kerry Group further expanded its influence by opening the Southern Europe Innovation Centre in Barcelona, Spain. This facility, equipped with advanced labs and technology, enables Kerry to develop innovative and customized cheese powder solutions for customers in Spain, Portugal, Italy, and France. This move is set to enhance Kerry's product portfolio and strengthen its position in the South European cheese powder market.
In October 2022, Fonterra Co-operative Group Limited (New Zealand) partnered with Land O'Lakes, Inc. (US) to enhance its US Foodservice business. This strategic sales and marketing agreement aims to expand Fonterra's Foodservice offerings in the US market. While initially focused on products like cooking creams and cream cheese, this collaboration could indirectly bolster Fonterra's capabilities and distribution of dairy products, including cheese powder, in the competitive US market.
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 2022 | USD 4.47 billion |
Market size value in 2031 | USD 7.91 billion |
Growth Rate | 6.54% |
Base year | 2023 |
Forecast period | 2023-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the 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 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cheese Powder Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cheese Powder Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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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.
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Report ID: SQMIG30I2215
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