Global Cheese Powder Market: Better Shelf Life Bolsters Product Demand, Observes TMR
Albany, NY -- (SBWIRE) -- 07/13/2018 -- Most players in the global cheese powder market are looking to expand their reach in various regions around the globe, says TMR, based on a recent report filed by Transparency Market Research. They are going for it by forming strategic collaborations with other local players and distributors, thus ensuring that cheese powders pervades the food industry. Our analysts' research point to an extremely competitive landscape due to the large number of companies operating in the market. Thornico, Bluegrass Dairy & Food, Land O'Lakes, Dairy Farmers of America, Archer-Daniels-Midland, Kraft Heinz, Kerry, Aarkay Food Products, Kanegrade, and All American Foods, are some of the most prominent players in the global cheese powder market.
Numbers being highly important for depicting the nitty-gritties of any market's performance, our analysts have come up with important market figures, which mainly are centered on revenue collection and growth. The revenue in the global cheese powder market was valued at US$355.9 mn in 2017, which is further expected to rise up to US$677 mn by 2022, by displaying an extraordinary CAGR of 13.70%.
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The global cheese powder market is segregated into several segments based on type of products, application, end user, and regions. Due frequent utilization of the cheddar cheese powder resulting in an overall high demand, it is a leading product segment, state our analysts. From a geographical perspective, the global cheese powder market is classified into six key regions of North America, Latin America, the Middle East and Africa (MEA), Japan, Europe, and Asia Pacific. Our research suggests that North America is likely to dominate the global cheese powder market.
Rising Application in Various Dishes Drives Demand
Cheese being a staple food in most countries, a variety of seasonings made from it are used in the form of powder to impart flavors to recipes. The rising preference for diverse flavored dishes all over the globe is one of the main factors driving demand for cheese powder. Besides, the market for cheese powders is also being benefitted by their greater shelf life. This is because they are prepared by dehydrating real cheese which reduces the moisture, thus making them shelf stable. They also have a rich flavor and a smooth texture, which makes them perfectly suited for adding to dips and sauces or shaking onto popcorn and veggies. This is also upping their demand in the market.
Popularity of Convenience Foods Positively Impacts Market
Many people all over the world prefer ready-to-eat-meals due to hectic and fast lifestyles, or due to absence of cooking facilities. Such factors have increased the usage of cheese powders as they are a quick alternative to typical seasonings and flavorings used in traditionally cooked food. Such a fast-paced lifestyle is providing a significant impetus to the global cheese powder market from a worldwide perspective. Easy availability of convenience foods in stores, especially in urban areas, has also propelled product sales.
However, the global cheese powder market also is affected by a few restraints, which can dampen demand to a degree. The most prominent among them is the rising health-consciousness among people, which could decrease the sales of instant foods that make use of cheese powder, which have a lot of calorie.
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Demand for Cheddar Cheese to Continue to be Strong
The global market for cheese powder is broadly assessed on the basis of the type of the product, end user, and the application. Based on the type of product, the market is segmented into Swiss cheese powder, cheddar cheese powder, mozzarella cheese powder, parmesan cheese powder, and blue cheese powder. The demand for cheddar cheese powder is comparatively greater than other types of cheese powder, making it the leading product segment of the global cheese powder market. Cheddar cheese powder is likely to remain witnessing a strong demand over the next few years, thanks to the increasing preference for convenience food items across the world.