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Report
Cheese Powder Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 90 Pages I Mordor Intelligence
The global cheese powder market is projected to register a CAGR of 7.1% during the forecast period 2022-2027.
The COVID-19 pandemic adversely affected several industries all over the world, including the cheese power industry. During the pandemic, consumers became health-conscious and shifted their preference toward healthy and organic products. The pandemic affected the global economy in several ways such as hampering supply chains and demand for products and affecting the production and manufacturing of cheese powder. As a result, market players started focusing on online retail channels. For instance, in 2020, DFA Ingredient Solutions, a business division of Dairy Farmers of America, unveiled an e-commerce store to enable manufacturers to order dairy ingredients.
Cheese powder is a substitute for hard cheese, due to its convenience in handling, shelf life, and storage. Manufacturers are introducing new flavors of cheese powder in order to gain a higher market share. Cheese powders are marketed as reduced-fat or reduced-sodium products, with low-fat and low-salt cheese being the cheese ingredients. The cheese powder market is led by the cheddar cheese segment, followed by mozzarella cheese. Its demand is increasing from convenience food manufacturers due to an increased demand for its flavor in various food products. Soups, sauces, dips, and condiments are the leading segments in terms of demand.
Cheese Powder Market Trends
Growing Application of Cheese in the Food and Beverage Industry
The product finds a spectrum of applications in the food and beverage industry. The preference of consumers for convenience foods is augmenting the demand for the product. In addition to this, the longer shelf life of the product makes it the prime choice for packaged food items. Furthermore, the ability of cheese powder to impart good taste and flavor accounts for its demand. Moreover, consumers' awareness of the nutrient value of the product, like high protein and vitamin content and low calories, is another factor expected to augment the growth of the market. Additionally, manufacturers are trying to offer better product quality and flavors, along with attractive and durable packaging, in order to augment the growth and scope of their business.
North America Holds Prominent Share in the Market
The North American region is estimated to account for a major share during the forecast period owing to the immense popularity of convenience food products as well as ready-to-eat meals among consumers as a result of busy work schedules. Moreover, dairy product intake on a large scale along with shifting demographics, hectic lifestyles, and easy access to new food and dairy technologies has boosted the growth of the cheese powder market in the European region. Moreover, an increase in the per capita income of consumers coupled with inflating intake of dairy items as well as altering food preferences is expected to drive the market's growth in the Asia-Pacific region. Additionally, a rise in the number of food stalls and outlets in countries such as China, India, and Japan is expected to provide a boost to the regional market's growth.
Cheese Powder Market Competitor Analysis
The global cheese powder market is highly competitive, with the presence of some key players. The demand for natural ingredients and fresh and authentic flavors is increasing as customers are preferring to spend more money on quality sauces, dressings, and soups for enhanced appearance, texture, and taste. The sauces, soups, and dressings industry has augmented the demand for parmesan cheese powder as it offers an authentic taste. The key strategies adopted by companies to gain higher revenues are new launches, expansions, acquisitions, and mergers. For instance, in 2020, Uhrenholt partnered with DKSH, a Swiss holding company specializing in market expansion services. Some of the major players in the cheese powder market are Dairi Concepts, Kerry Group, ADM, Blue Grass Dairy, and All American Foods, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Cheddar
5.1.2 Parmesan
5.1.3 Mozzarella
5.1.4 Other Product Types
5.2 By Application
5.2.1 Bakery and Confectionery
5.2.2 Sweet and Savory Snacks
5.2.3 Sauces, Dressings, and Dips and Condiments
5.2.4 Ready Meals
5.2.5 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Dairi Concepts LP
6.4.2 Kerry Group
6.4.3 All American Foods
6.4.4 ADM (WILD Flavors and Specialty Ingredients)
6.4.5 Blue Grass Dairy
6.4.6 Lactosan AS
6.4.7 Kanegrade Ltd
6.4.8 Aarkay Food Products Ltd
6.4.9 Land O'lakes Inc.
6.4.10 Kraft Foods Group Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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