NEWARK, Del, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The global cheese powder market is set to witness an impressive growth rate of 14% over the forecasted years of 2022 to 2032. The cheese powder market size is anticipated to reach a valuation of around US$ 2300 Million by the end of year 2032 from the current valuation of US$ 600 Million in 2022.
A number of reasons, including the quick expansion of the dehydrated cheese powder food industries globally is growing consumer spending and, rapid economic development, and rising standards of living. Additionally, cheese dust is a favored option for manufacturers of packaged foods due to their prolonged shelf life.
Due to the enormous acceptance of convenience food items and ready-to-eat meals among consumers as a consequence of hectic work schedules, the North American region is anticipated to account for a significant share of the cheese powder market throughout the projected period.
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Widespread consumption of milk products, changing demographics preferences, busy lives, and better visibility of innovative food and dairy advancements have all contributed to the expansion of the powdered cheese sauce industry in the European area. In addition, rising consumer per capita income, rising dairy consumption, and changing dietary tastes are all anticipated to fuel the cheese powder market growth in the Asia-Pacific region.
The need for parmesan cheese powder has increased as a result of the authentic flavour it provides for the sauces, soups, and dressings business making it the .rapidly popularizing segment for the global cheese powder market in current years.
Key Takeaways from Cheese Powder Market Study
- The absolute growth in terms of US$ of the global cheese powder market is estimated to be around US$ 1800 Million over the forecast years through 2032, as it follows the CAGR of 13.5%.
- White Cheddar powder is the highest selling product segment based on different types of the dry cheese powder available.
- In recent years the permesean cheese powder is getting rapidly popular among the end users and is growing at a rate of 18% as per the cheese powder market analysis report by FMI.
- North America is the dominant region for the global cheese powder market with a market share of over 32.5 in the current year 2022.
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Competitive Landscape for the Global Cheese Powder Market
Key players dominating the global cheese powder market include The Kraft Heinz Company, Almarai, Kerry Group PLC, Lactosan A/S, Kanegrade Limited, Land O'Lakes, Inc., Commercial Creamery Company Associated Milk Producers Inc., Arla Foods, and GCMMF (Amul) among others.
There are a few major competitors in the fiercely competitive environment for cheese powder business. Customers are increasingly choosing to spend more money on high-quality powdered cheese sauce, dressings, and soups for their improved look, texture, and flavor, which is driving up usage of natural flavourings and fresh, genuine aromas
Recent Developments in the Global Cheese Powder Market:
- In India, the Aarkay Food Products Ltd introduced a new line of cheese powders around 2021 under the High Purity or Pure Cheese Powder Category, aimed towards making of cheese powder for popcorns, condiment sauces, mayonnaise, and dips.
- The purchase of Sojaprotein, a top European supplier of non-GMO soy components, by ADM, a leading global player in nutrition and agricultural sourcing and processing, got finalized in the year 2021. This strengthened ADM's plant-based protein processing units in Chicago as well.
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Table of Content
1. Market Overview
1.1. Market Coverage / Taxonomy
1.2. Market Definition / Scope / Limitations
2. The Massive Impact of the Crisis
2.1. Global Cheese Powder Market Forecast Scenario Comparison of Annual Growth Rates for short Term (2022-2026) and Long Term (2027-2032)
2.1.1. Optimistic Scenario
2.1.1.1. China
2.1.1.2. US
2.1.1.3. India
2.1.1.4. Euro Zone
2.1.1.5. Asia Pacific
2.1.1.6. Rest of the World
2.1.2. Likely Scenario
2.1.2.1. China
2.1.2.2. US
2.1.2.3. India
2.1.2.4. Euro Zone
2.1.2.5. Asia Pacific
2.1.2.6. Rest of the World
2.1.3. Pessimistic Scenario
2.1.3.1. China
2.1.3.2. US
2.1.3.3. India
2.1.3.4. Euro Zone
2.1.3.5. Asia Pacific
2.1.3.6. Rest of the World
2.2. Key Factors Impacting the Market
2.3. Note: Market Assessment shall be Provided for Likely Scenario
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