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Cheese Powder Global Market Report 2022: Ukraine-Russia War Impact

Cheese Powder Global Market Report 2022: Ukraine-Russia War Impact

  • November 2022
  • 175 pages
  • ID: 6364868
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the cheese powder market are Kerry Group plc, DairiConcepts L.P., Land O’ Lakes Inc., Kanegrade Ltd., The Kraft Heinz Company, All American Foods Inc., Lactosan A/S, Aarkay Food Products Ltd., Commercial Creamery Company, The Archer-Daniels-Midland Company, Bluegrass Ingredients Inc., Fonterra Co-operative Group, Wild Flavors Inc., First Choice Ingredients and Ace International LLP.

The global cheese powder market is expected to grow from $1.24 billion in 2021 to $1.34 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The cheese powder market is expected to grow to $1.84 billion in 2026 at a compound annual growth rate (CAGR) of 8.2%.

The cheese powder market consists of sales of cheese powder products by entities (organizations, sole traders, and partnerships) that are used as a flavor enhancer and filler in a variety of products, including soups, sauces, dressings, and ready-to-eat meals. Cheese powder refers to the dehydrated form of natural cheese made from cheese, water, and melting salt, which is melted, pasteurized, and spray-dried.

The main types of cheese powder are cheddar, parmesan, mozzarella, and other product types.Cheddar refers to a type of cheese that is hard white, yellow, or orange and has a soft texture with mild to strong flavors.

The applications include bakeries and confectioneries, sweet and savory snacks, sauces, dressings, dips and condiments, ready meals, and other applications and are distributed through supermarkets, hypermarkets, convenience stores, specialty stores, and other distribution channels.

North America was the largest region in the cheese powder market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the cheese powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rising consumption of convenience foods is expected to propel the growth of the cheese powder market going forward.Convenience food refers to food that can be heated and prepared quickly and easily, such as frozen, dried, or canned foods.

People are opting for convenience food as they are easy-to-cook and easy-to-eat foods and are tastier.For instance, according to an article published in The Economic Times, an India-based newspaper in 2021, sales of consumer snack packs and ready-to-eat food increased from 10% to 30% in August 2021 compared to 2019.

Therefore, a rise in the consumption of convenience food is driving the cheese powder market.

Product innovation is the key trend gaining popularity in the cheese powder market.Major companies operating in the cheese powder market are coming up with new and innovative products to sustain their position in the market.

For instance, in April 2021, Aarkay Food Products Ltd, an India-based manufacturer of natural food ingredients and additives launched a new line of cheese powders under the high purity cheese powder category, aimed at dips, mayo, and condiment sauces.These powders are made uniquely from the, no- enzyme modification process to avoid unnecessary constraints arising from enzymes.

The nutrition profile of this product is superior compared to all other grades of cheese powders and is made with low or no carriers with emulsifying salts to give customers their targeted fat and protein percentages without any additional sources.

In October 2021, Ornua, an Ireland-based dairy cooperative company acquired Whitehall Specialties Inc for an undisclosed amount.This acquisition complements Ornua’s US ingredients division and strengthens its current position in the US cheese ingredients market and would expand its production footprint across six well-invested facilities in Wisconsin, Minnesota, and Pennsylvania.

Whitehall Specialties Inc is a US-based company that manufactures functional analog, plant-based, and blended cheese products.

The countries covered in the cheese powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The cheese powder market research report is one of a series of new reports that provides cheese powder market statistics, including cheese powder industry global market size, regional shares, competitors with a cheese powder market share, detailed cheese powder market segments, market trends and opportunities, and any further data you may need to thrive in the cheese powder industry. This cheese powder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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