Cheese Powder Market Size, Share & Trends Analysis Report By Product (Parmesan, Cheddar, Blue Cheese, Romano, Swiss), By Application (Ready To Eat, Bakery & Confectionery, Snacks), By Region, And Segment Forecasts, 2022 - 2030

Cheese Powder Market Size, Share & Trends Analysis Report By Product (Parmesan, Cheddar, Blue Cheese, Romano, Swiss), By Application (Ready To Eat, Bakery & Confectionery, Snacks), By Region, And Segment Forecasts, 2022 - 2030

Cheese Powder Market Growth & Trends

The global cheese powder market size is anticipated to reach USD 7.11 billion by 2030, growing at a CAGR of 6.48% from 2022 to 2030, according to a new report by Grand View Research, Inc. The market is predicted to grow steadily in the coming years, owing to an increase in the demand for cheese powder in a variety of snacks such as pasta, popcorn, and chips among others, particularly in developed markets. Moreover, recent price declines, combined with a rising population, a thriving food and beverage sector, and growing disposable income, are expected to drive market growth in developing countries.

Industrial canteens and large catering establishments have witnessed increased demand for ready-to-eat food items including soups, noodles, sauces, pasta, and pizza among other items which are expected to fuel product demand in coming years. Some of the other factors driving the cheese powder market growth are rising health concerns as a result of a higher demand for frozen and canned foods.

Consumers across the globe are looking for convenient solutions to simplify their hectic lifestyles. Furthermore, the nutritional content in cheese powder such as high protein and vitamins combined with low calories, are expected to have a positive impact on the market. However, consumers are increasingly gravitating toward vegan diets due to environmental concerns and animal rights. This, in turn, is expected to stifle market growth during the forecast period.

Rising demand for ready-to-eat and packaged foods is one of the primary drivers of market growth. Cheese powder is commonly used in dry snacks. Snacks are the most common application because they have a higher shelf life and are easy to handle. Moreover, consumer preferences are shifting towards packaged and processed foods as a result of busy schedules. Furthermore, the increased availability of processed and packaged food in supermarkets and hypermarkets is expected to boost the industry’s growth.

The market in Asia Pacific is expected to grow significantly over the forecast period owing to the growing demand for western food products in the region. The flavoring property of cheese powder is particularly ideal in the region because of the rising demand for western food such as burgers and pizzas. Furthermore, the region's growing presence of quick service restaurants such as Burger King, Domino's, KFC, and McDonald's is expected to drive product demand.

Cheese Powder Market Report Highlights

• Swiss cheese powder in the product segment is expected to grow significantly over the forecast period. This growth can be attributed to the increasing demand for Swiss cheese due to its unique flavor and taste
• The snacks segment dominated the global market with the highest revenue share owing to the increasing demand for snack products among consumers as meal replacements
• Europe accounted for the highest share in 2021 and is predicted to expand substantially during the forecast period. The growing preference for protein-based beverages among fitness-conscious consumers is expected to contribute to the region's growth
• Furthermore, consumers prefer parmesan cheese and wine pairings over traditional ones which is expected to boost regional demand
• Some of the key players in the market include Archer Daniels Midland Company; Kerry Group PLC; Kraft Heinz Company; and Land O'Lakes, Inc.