Newark, NJ, May 30, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global cheese powder market is expected to grow from USD 1.17 billion in 2019 to USD 2.03 billion by 2027, at a CAGR of 7.1% during the forecast period 2020-2027. Asia Pacific is expected to show the highest growth due to changing food preferences, increased intake of dairy items and per capita income. Also, an increased number of food outlets and stalls are contributing in the growth of this region. Surge in munching habits and consumption of snacks which has high nutrients are expected to drive the market.
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Key players in the cheese powder market are Aarkay Food Products Ltd., Kerry Group Plc, Thornico A/S, Archer-Daniels-Midland Company, Cargill Inc., Land O'Lakes Inc., E. I. du Pont de Nemours and Company, Kanegrade Limited, Kraft Foods Group, DSM Nutritional Products AG, All American Foods Inc., Bluegrass Dairy & Food Inc and Dairy Farmers of America Inc. Lactosan introduced a new product which has more nutrients in order to increase calcium levels in products. Local infrastructure, labour availability, increased demand, competition and market size are driving the distribution of a product. Hence, Key players are connecting with hypermarket, supermarket and e-commerce.
The type segment includes swiss, romano, blue cheese, parmesan, cheddar, mozzarella and gouda. Swiss cheese powder is expected to show the highest growth over the forecast period. It is due to customers demand for authentic and good quality cheese powder. Provenance and sustainability play an essential role in the growth of this segment. Due to increased demand, companies are emphasizing more on strategies to increase the shelf space in grocery and retail stores. The application segment includes ready to eat, flavours, dry mix, sauces, dips, dressings, bakery & confectionery and snacks. Ready to eat food segment is expected to show the highest growth over the forecast period. It is due to inclination towards baked and quickly prepared food. Hence, bakery & confectionery products are creating an opportunity for producers at both industrial and domestic levels.
Increased demand for convenience foods is the main driving factor in the growth of the market. Snacks is the primary application as it has a longer shelf life and is easy to handle. Cheese powder is highly used in dry snacks. Inclination towards packaged food as well as processed food are shifting the preferences of a consumer. Moreover, increased availability of packaged as well as processed food in hypermarkets and supermarkets are contributing to boost the market.
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About the report:
The global cheese powder market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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