Cheese Powder Market by Type (Cheddar, Mozzarella, American Cheese, Blue Cheese, Parmesan), Application (Bakery & Confectionery, Sweet & Savory Snacks, Sauces, Dressings, Dips, and Condiments, Ready Meals), Origin and Region - Global Forecast to 2028

Northbrook, IL 60062 -- (SBWire) -- 09/12/2023 --According to a recent research report titled "Cheese Powder Market by Type (Cheddar, Mozzarella, American Cheese, Blue Cheese, Parmesan), Application (Bakery & Confectionery, Sweet & Savory Snacks, Sauces, Dressings, Dips, and Condiments, Ready Meals), Origin, and Region - Global Forecast to 2028," published by MarketsandMarkets, the global cheese powder market was valued at USD 630 million in 2023 and is projected to reach USD 895 million by 2028, with a compound annual growth rate (CAGR) of 7.3% during the forecast period.

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The key driving factor for the cheese powder market is the increasing demand for convenience foods. Major industrial users of cheese powders include producers of snacks, soups, sauces, frozen products, and ready-to-eat meals. Snacks constitute a significant application of cheese powder due to its ease of handling and extended shelf life, particularly in dry snacks.

In terms of cheese types, cheddar cheese powder dominated the market in 2023 in terms of value. Cheddar is a popular and widely consumed cheese variety, often reflecting broader trends in the cheese powder industry. Its low calorie, saturated fat, salt, and cholesterol content has led to increased demand, especially in North America, where health-consciousness is on the rise. Additionally, consumers have shown a growing interest in high-quality, artisanal, and premium cheddar cheeses.

Within the origin segment, processed cheese powder accounted for the largest share of the market in 2023. Processed cheese products are extensively used in the foodservice industry, including quick-service restaurants and casual dining establishments, due to their convenience and versatility in various menu items. The growth of the snack industry and the demand for flavorful snacks have contributed to the processed cheese market's growth.

Among various applications, ready meals are estimated to experience the highest growth in the cheese powder market. Cheese powder is employed in ready meals to add specific cheese flavors or enhance existing ones. The busy lifestyles of consumers, especially in developed countries like the U.S., Germany, and the U.K., have boosted the popularity of ready meals, driving the demand for cheese powder. Additionally, ready meal manufacturers are incorporating cheese powder from different cuisines to create fusion dishes that offer a blend of flavors, catering to consumers' growing interest in global flavors.

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The North American region is expected to exhibit significant growth in the global cheese powder market. The widespread use of cheese powder in snacks, ready meals, sauces, dips, dressings, and bakery products, coupled with the presence of numerous fast-food chains and a wide variety of cheeses, is expected to drive market growth in North America.

The increasing demand for convenience food products presents growth opportunities for cheese powder manufacturers. Moreover, consumers' growing interest in high-quality, artisanal, and specialty cheeses has led to artisanal cheesemakers gaining attention for their unique flavors, production methods, and localized offerings.

Key players in the Cheese Powder market include Land O'Lakes, Inc. (US), Kerry Group Plc (Ireland), Fonterra Co-operative Group Limited (New Zealand), ADM (US), and Commercial Creamery Company (US).

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