Cheese Powder Market worth US$ 2.62 Billion 2030 with a CAGR of 6.6%

The report "Cheese Powder Market, By Type (Parmesan, Cheddar, Mozzarella, Blue, and Others), By Application (Sauces and Dips, Sweet and Savory Snacks, Bakery and Confectionery, and Others), and Region – Global Forecast to 2029". Global cheese powder market is projected to grow from US$ 1.4 Billion in 2020 to US$ 2.5 Bllion by 2029. Increasing trend for fast foods among the individuals and rising demand for ready to eat food products across the globe are major factor for growth of the global cheese powder market. In addition, increasing preference for convenient food among the individuals due to fast growing urbanization and globalization is another factor propelling growth of the global cheese powder market. Furthermore, row materials for production of cheese powder are easily available in developing countries which results in lower production costs is also major factor expected to drive growth of the global cheese powder market in the near future. Increasing usage of packed as well as processed food is a key trend witnessed in the target market. This trend is expected to continue and boost growth of the target market in the near future.

Key Highlights:

In 2018, for instance, Archer Daniels Midland Company acquired wild flavors and specialty ingredients to enhance Archer Daniels Midland Company’s product portfolio which is supporting growth of the global cheese powder market.
Key Market Insights from the report:

The global cheese powder market accounted for US$ 1.4 Billion in 2020 and is projected to register a CAGR of 6.6% over the forecast period. The market report has been segmented on the basis of type, application, and region.

By type, the cheddar segment is accounted for major revenue share in 2018, owing to increasing preference for convenience food items across the globe.
By application, the global cheese powder market is segmented into sauces and dips, sweet and savory snacks, bakery and confectionery, and others.
By region, North America cheese powder market accounted for major revenue share in the global cheese powder market and is further anticipated to maintain its dominance over the forecast period. This is attributed to presence of well established cheese powder industry in the countries in the region. Increasing demand for convenience foods which are easy-to-cook and ready-to-eat is major factor expected to support growth of the North America market over the forecast period. The market in Europe is expected to account for second-highest revenue share in 2018.
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The prominent player operating in the global cheese powder market includes THORNICO A/S, Land O'Lakes, Inc., Kerry Group plc., Aarkay Food Products Ltd., Kanegrade Ltd., Archer Daniels Midland Company, All American Foods, Inc., Bluegrass Dairy & Food, Inc., DairiConcepts L.P., and The Kraft Heinz Company.

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