The report "Cheese Powder Market by Type (Cheddar, Parmesan, Mozzarella, American Cheese, Blue Cheese & Others), Application, & by Region (North America, Europe, Asia-Pacific, South America & RoW) - Global Forecast to 2020", The global cheese powder market is projected to grow at a CAGR of 7.5% from 2015, to reach a projected value of USD 367.9 Million by 2020.
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The cheese powder market is projected to grow at a CAGR of 7.5% from 2015 to 2020. The growth of the cheese powder market is dependent upon the growth of the convenience food industry. The demand for cheese powder as a key ingredient in various food products is rising globally. Factors such as the rapidly increasing size of the global convenience food and fast food industry are expected to increase the demand for cheese powder.
The cheddar cheese segment is projected to grow at a significant rate during the forecast period
The demand for cheddar cheese powder is mainly driven by its application as a flavorant in various convenience food products such as snacks, bakery products, confectioneries, ready meals, sauces, and dips among others. The demand of cheese powder is driven by increasing innovations in product offerings by cheese powder manufacturers.
Increased consumption of cheese powder in ready meals due to busy lifestyles and changing dietary habits
The market for application of cheese powder is led by ready meals in terms of growth rate. The demand for ready meals is projected to increase in developed regions such as North America and Europe due to the busy lifestyles and changing dietary habits of the consumers associated with it. Furthermore, cheese powder has a longer life shelf which makes it a preferred option for the packaged food manufacturers.
Rising convenience food demand and lower cost of cheese powder production in Asia-Pacific offers growth opportunities to the cheese powder manufacturers
Japan constituted the largest country market in the Asia-Pacific region in 2014. Large scale raw material production in the Asian countries has led to a large-scale production at a competitive cost of cheese powder in the country. In 2014, North America led the market and accounted for the largest market share globally, as it is the largest producing and exporting region of cheese powder.
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This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as Lactosan A/S (Denmark), Land O’Lakes, Inc. (U.S.), Kerry Group Plc (Ireland), and Kraft Foods Group, Inc. (U.S.).
In terms of insights, this research report has focused on various levels of analysis industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global cheese powder market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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