Cheese Powder Market Size, Share, Trends, Business Opportunities, Industry Overview, and Leading Players
The global cheese powder market is estimated at USD 630 million in 2023 and is projected to reach USD 895 million by 2028, at a CAGR of 7.3% from 2023 to 2028. The consumption pattern of cheese is observed to shift from the traditional way to a more advanced and innovative way, such as the consumption of low fat and low sodium cheese powders, which would impart more flavor to their food products. Thus, cheese powders are expected to be accepted and grow at a good pace in the coming years.
What is cheese powder?
Cheese powder is a dehydrated form of cheese that has been processed into a fine powder. It’s typically made by drying cheese and then grinding it into a powder form. This powder can vary in flavor and texture depending on the type of cheese used and the processing methods employed. It’s commonly used as a flavoring agent in various food products like snacks, sauces, dips, and seasonings. Cheese powder is convenient for adding a cheesy flavor to dishes without the need for refrigeration or worrying about spoilage.
The cheese powder market has witnessed several trends in recent years. Here are some key observations:
1. Increasing Demand in Food Industry: Cheese powder has gained popularity across the food industry due to its convenience, long shelf life, and ability to add cheese flavor to a variety of products. This demand is particularly pronounced in the snack food, bakery, and convenience food sectors.
2. Growing Preference for Natural Ingredients: With consumers becoming more health-conscious and demanding transparency in food ingredients, there’s a notable shift towards natural cheese powders made from real cheese rather than artificial flavors. Manufacturers are responding by offering products with cleaner labels, free from additives and artificial preservatives.
3. Expansion of Product Applications: Cheese powder is no longer limited to traditional uses in macaroni and cheese or snack seasonings. Its versatility has led to its incorporation in a wide range of products such as sauces, dips, dressings, soups, and even beverages, contributing to the expansion of the market.
4. Innovations in Flavor Profiles: To cater to diverse consumer preferences, cheese powder manufacturers are innovating with new flavor profiles beyond the conventional cheddar and mozzarella. This includes exotic cheese varieties like blue cheese, gouda, and parmesan, as well as flavored blends incorporating herbs, spices, or even heat from chili peppers.
5. Rising Demand for Plant-Based Alternatives: With the growing popularity of plant-based diets, there’s a rising demand for vegan cheese powders made from plant sources such as nuts, seeds, or nutritional yeast. These alternatives are not only appealing to vegans and vegetarians but also to consumers seeking healthier and environmentally sustainable options.
Cheese Powder Market Opportunities: Rapidly growing market of processed and packaged food in developing countries
With favorably changing economic conditions and developments, there is an increase in the disposable income of consumers. This rise in disposable income has resulted in higher purchasing power of consumers, which in turn has increased the household expenditure, wherein the consumers are increasingly spending on processed & packaged foods. Cheese powder is extensively used in packaged and processed food as a flavorant. The increasing disposable income in emerging economies can be analyzed by the growth in GDP (PPP) of leading countries in 2015.
The rise in urbanization in developing countries is expected to create opportunities for the global cheese powder market. Urbanization often leads to changes in lifestyle and dietary habits. With fast-paced urban lives, people are seeking convenient and time-saving food options that do not compromise on taste and nutritional value. Cheese powder, known for its long shelf life and versatility, aligns perfectly with this need. It can be easily incorporated into a variety of dishes, ranging from instant pasta meals to ready-to-eat snacks, catering to the on-the-go urban lifestyle. According to the FAO, rapid economic development, income growth, and urbanization are leading to changes in dietary patterns of people in Asia. A shift is observed from staple food towards including processed & packaged food products in their food intake. Moreover, growth in retail channels such as supermarkets and hypermarkets in urban areas is expected to increase the availability of processed & packaged food. With the rising demand for packaged foods such as snacks, bakery & confectionery products, and ready to eat meals, the demand for cheese powder is likely to grow in the future.
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Based on application, Sauces, dressings, dips, and condiments products is estimated to account for the largest market share of the cheese powder market.
Sauces, dressings, dips, and condiments are commonly used to enhance the flavor of various dishes. When combined with cheese powder, they can create a rich and savory taste profile that appeals to consumers. The combination of different flavors can lead to unique culinary experiences, driving demand for cheese powder in both the consumer and food service sectors. The food service sector, including restaurants and cafes, often uses cheese powder as a cost-effective and flavor-boosting ingredient. By incorporating cheese powder into sauces, dressings, and dips, foodservice establishments can offer unique menu items that stand out to customers.
The North America market is projected to contribute the largest share for the cheese powder market.
North America, especially the United States, has been a significant consumer of processed and convenience foods, which often include cheese-flavored snacks and products. This has contributed to the demand for cheese powder as an ingredient. Consumers have shown a growing preference for convenient, ready-to-eat, and portable snack options. Cheese powder is often used to add flavor to such products, aligning with this trend. Cheese powder is a versatile ingredient that provides a concentrated cheese flavor. Its use in various food items helps enhance taste profiles and can make products more appealing to consumers.
Top Companies in the Cheese Powder Market
Land O’Lakes, Inc. (US), Kerry Group Plc (Ireland), Fonterra Co-operative Group Limited (New Zealand), Archer Daniels Midland (US), and Lactosan A/S (Denmark) are among the key players in the global cheese powder market. These players in this market are focusing on increasing their presence through partnership and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe.
LAND O’LAKES, INC. (US)
Land O’Lakes, Inc. is a well-established farmer- and retailer-owned cooperative that was originally founded with the aim of collaborating to create new market opportunities. The company produces dairy products, animal feed and crop seed in the US. In 1921, it was formed as a cooperative designed to meet the needs of dairy farmers located in the midwestern US. It operates our business through three primary segments: dairy foods, animal feed and crop seed. The company also includes other segments and a diverse group of joint ventures and investments.
The dairy foods business segment of Land O’Lakes is responsible for offering products related to the cheese powder market. Within this segment, Land O’Lakes produces, markets, and sells an array of dairy products, including butter, spreads, cheese, and other related items. These products are marketed under the brand name “Land O Lakes” Ingredients. The company currently operates in US only.
KERRY GROUP PLC (Ireland)
Kerry Group Plc is a leading manufacturer of food ingredients and flavors. It is engaged in the manufacturing and marketing of food ingredients and flavors for the food, beverage, and pharmaceutical industries. The company operates through two business segments: ingredients & flavors and consumer foods. Kerry offers a wide array of food ingredients for food processing centers and markets globally. Its product portfolio also consists of coating systems, sweet ingredients, fruit preparations, cheese & dairy ingredients, and functional dairy & confectionary ingredients needed by the food processing and service industries. The group offers its products under the brand names of Mattessons, Richmond, Wall’s, Ballyfree, Denny, Homepride, Dawn, and Kelly Spring.
The group supplies more than 18,000 consumer foods, food ingredients, and flavor products to customers in 140 countries across Europe, Middle East, and Africa (EMEA); the Americas; and Asia-Pacific. The group has 147 manufacturing facilities in 25 countries.
FONTERRA CO-OPERATIVE GROUP LIMITED (New Zealand)
Fonterra Co-operative Group Limited, commonly known as Fonterra, is a leading global dairy co-operative based in New Zealand. The company’s dairy ingredients and solutions brand, NZMP (New Zealand Milk Products), has gained international recognition and stands as a testament to Fonterra’s expertise in the dairy industry. Fonterra’s NZMP brand boasts a vast international footprint, with offices in 14 global locations and a strong reseller network. With customers in over 130 countries, NZMP holds the distinction of being the world’s leading dairy exporter.
Apart from New Zealand, Fonterra has a significant presence in various key regions like North America, Europe, and Asia Pacific. In Australia, NZMP processes around 20% of the country’s milk, making it a substantial contributor to the dairy industry in the region. In Europe, the company’s specialized team produces high-quality ingredients and mozzarella, leveraging the Netherlands’ strategic location. Moreover, through its joint venture, Columbia River Technologies (CRT), Fonterra produces Grade A Whey Ingredients sourced from the US, catering to the North American market.
ADM (US)
Archer Daniels Midland Company (ADM) produces food & beverage ingredients, feed & feed ingredients, industrial ingredients, biofuels, and naturally derived alternatives to industrial chemicals. It operates through four segments- Agriculture services & oilseed: activities related to the agricultural raw material origination, marketing, transportation, and storage, as well as crushing and further processing of oilseeds; Carbohydrate solutions: engaged in corn and wheat wet and dry milling and other activities; Nutrition: offers Food, beverages, nutritional supplements, and feed and premix for livestock, aquaculture, and pet food are all served by the Nutrition segment. Plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, enzymes, botanical extracts, and other specialty food and feed ingredients are among the ingredients and solutions manufactured, sold, and distributed by this segment; and others segment: Other Business includes the Company’s remaining operations such as Investor Services, Insurance activities and more.
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