(Food-Beverage-News.Com, February 29, 2020 ) 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.
Rapidly growing market for processed and packaged food in developing countries
A shift has been observed from staple food towards processed & packaged food products in developing such as India. Furthermore, growth in the retail channels such as supermarkets and hypermarkets in urban areas in these countries is expected to increase the availability of processed & packaged food. With the rising demand for packaged foods such as snacks, bakery & confectionery products, and ready to eat meals, the demand for cheese powder is likely to grow in the upcoming years.
Stringent labelling regulation is one of the major challenge in this market
The demand for accurate labelling of all the ingredients in the product and specifying the details of the ingredients is on the rise due to growing health concerns. Such information is especially important in the case of food products that contain various additives; for instance, powdered cheese is prepared by adding various ingredients such as whey, caseinate, and maltodextrin. Adhering to these labelling regulations may increase the cost of packaging and labelling, which in turn affects the price of the final products. This leads to low acceptance by consumers, which poses as a challenge for the powdered cheese market.
Sauces, dressings, dips, and condiments is projected to account for the largest market share during the forecast period.
Sauces produced by using cheese powder are widely consumed with pasta, vegetables, pizza, and casseroles. Dips and condiments made from cheese powder are normally consumed with vegetables, wings, and fried snacks, among others. With the increasing consumption for fast food in Asia Pacific, the demand for cheese powder in sauces, dressings, dips, and condiments is projected to grow at the highest rate in this region over the coming years.
Asia Pacific is projected to be the fastest-growing region in the cheese powder market, in terms of value.
Asia-Pacific is projected to be the fastest-growing region in the global cheese powder market due to rapidly growing fast-food industry and changing dietary preferences of people in countries like China, India, and Australia that has led to an increased demand for cheese powder in the region. Furthermore, key players in this market are focusing to establish their position in these developing nations.
Key players identified in the cheese powder market include Land O’Lakes, Inc. (U.S.), Kerry Group Plc (Ireland), Kraft Foods Group, Inc. (U.S.), and Lactosan A/S (Denmark). Other players such as Aarkay Food Products Ltd. (India), DairiConcepts (U.S.), Archer Daniels Midland Company (U.S.), All American Foods (U.S.), Commercial Creamery Company (U.S.), and Kanegrade (U.K.) also have a strong presence in the global cheese powder market.
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