Cheese Powder Market to expand at a CAGR of 7.3% by 2030
The global cheese powder market size is expected to reach US$ 2612.2 Mn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 7.3% CAGR between 2020 and 2030. According to the report, increasing demand for ready-to-eat (RTE) and ready-to-cook (RTC) food products among consumers is expected to boost the market growth of cheese powder globally. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the clean label ingredients market. Some of these are:
· The estimated value of the market was at US$ 1291.26 Mn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
· The market in North America is expected to dominate the global cheese powder market during the forecast period.
· Supply chain disturbances and decelerated demand due to coronavirus may have a negative impact on growth.
· The Asia-Pacific market is expected to generate the highest CAGR.
· Increasing urbanization in developing countries such as India and China.
· Key players are likely to focus on product innovations to stay relevant in developed markets..
Growing Application of Cheese in Food and Beverage Industry Aids Growth
The product finds a spectrum of applications across food & beverages along with consumer changing tastes resulting in a preference for convenience foods has proliferated the product demand. In addition to this, elongated shelf life of the product has made it the first choice for package food items. Furthermore, ability of cheese powder to impart good taste and flavor to the food items has made the consumers tilt towards the product. Moreover, massive customer emphasizes on nutrient value of the product like high protein & vitamin content and low calories will offer lucrative growth prospects for the market. This will nullify the impact of hindrances on the market. Again, the manufacturers are trying to offer better product quality & flavors along with attractive & durable packaging, thereby effectuating the growth& scope of the business.
Who is winning?
The key strategies adopted by companies to expand are new launches, expansions, acquisition, and mergers. Some of the major players in the cheese powder market, globally are Dairi Concepts, Kerry Group, ADM (WILD Flavors and Specialty Ingredients), Blue Grass Dairy, All American Foods among others.
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
Get Valuable Insights into Cheese Powder Market
Future Market Insights, in its new report, presents an unbiased analysis of the global cheese powder market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. On the basis of product type, the market is segmented into cheddar, parmesan and mozzarella. On the basis of application, the market is segmented into bakery & confectionery, sweet & savory snacks, sauces, dressings, dips & condiments and ready meals. Also, the study provides an analysis of the cheese powder market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Press Release Source: https://www.accesswire.com/587155/Cheese-Powder-Sales-Soar-as-More-Consumers-Prefer-Convenience-Foods-Amid-COVID-19-Pandemic-Finds-a-New-Future-Market-Insights-Study
More from FMI’s Food and Beverages Market Intelligence:
· Custom Dry Ingredients Blends Market
Request for covid19 Impact Analysis: https://www.futuremarketinsights.com/covid19/rep-gb-11222
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s largest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
Contact
Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: [email protected]
For Media Enquiries: [email protected]