Global Cheese Powder Market to Reach $1 Billion by 2027
Amid the COVID-19 crisis, the global market for Cheese Powder estimated at US$445.2 Million in the year 2020, is projected to reach a revised size of US$1 Billion by 2027, growing at a CAGR of 12.5% over the analysis period 2020-2027. Parmesan, one of the segments analyzed in the report, is projected to record a 14.4% CAGR and reach US$307.3 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cheddar segment is readjusted to a revised 13% CAGR for the next 7-year period.
The U.S. Market is Estimated at $120 Million, While China is Forecast to Grow at 16.5% CAGR
The Cheese Powder market in the U.S. is estimated at US$120 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$227.2 Million by the year 2027 trailing a CAGR of 16.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.6% and 10.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.8% CAGR.
Mozzarella Segment to Record 11.2% CAGR
In the global Mozzarella segment, USA, Canada, Japan, China and Europe will drive the 10.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$66 Million in the year 2020 will reach a projected size of US$132.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$149.6 Million by the year 2027, while Latin America will expand at a 12.7% CAGR through the analysis period.
Select Competitors (Total 42 Featured):
Amid the COVID-19 crisis, the global market for Cheese Powder estimated at US$445.2 Million in the year 2020, is projected to reach a revised size of US$1 Billion by 2027, growing at a CAGR of 12.5% over the analysis period 2020-2027. Parmesan, one of the segments analyzed in the report, is projected to record a 14.4% CAGR and reach US$307.3 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cheddar segment is readjusted to a revised 13% CAGR for the next 7-year period.
The U.S. Market is Estimated at $120 Million, While China is Forecast to Grow at 16.5% CAGR
The Cheese Powder market in the U.S. is estimated at US$120 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$227.2 Million by the year 2027 trailing a CAGR of 16.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.6% and 10.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.8% CAGR.
Mozzarella Segment to Record 11.2% CAGR
In the global Mozzarella segment, USA, Canada, Japan, China and Europe will drive the 10.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$66 Million in the year 2020 will reach a projected size of US$132.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$149.6 Million by the year 2027, while Latin America will expand at a 12.7% CAGR through the analysis period.
Select Competitors (Total 42 Featured):
- Aarkay Food Products Ltd.
- All American Foods Inc.
- Archer Daniels Midland Company
- Bluegrass Dairy and Food Inc.
- DairiConcepts LP
- Kanegrade Ltd.
- Kerry Group PLC
- Lactosan A/S
- Land O'Lakes, Inc.
- The Kraft Heinz Company
Note: Product cover images may vary from those shown
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
III. MARKET ANALYSIS
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
3. MARKET TRENDS & DRIVERS
- Burgeoning Demand for Ready to Eat and Convenience Food in Rapidly Expanding Food and Beverage Industry Accelerates Market Growth
- Increasing Demand for Ready to Eat Food Items Driven by Changing Lifestyles and Consumption Habits in the US Will Influence Market Prospects: US Ready to Eat Food Market (In US$ Billion) for the Years 2018, 2020 & 2023
- As a Staple Food Item, Cheese Powder to Witness Continued Growth in Western Countries
- Downward Pressures on Cheese Prices Increases Consumption in Food Ingredients and Food Service Sectors: US Cheese Production Volume (In Million Metric Tons) for the Years 2017, 2020 and 2023
- World’s Largest Cheese Consumers Residing in Developed Countries Continue to Spur Demand in the Market: Top Cheese Consumers (In Kilograms per Person) Worldwide by Country (2017)
- Growing Urban Population and Flourishing Fast Food Sector in Asia-Pacific Region Presents New Growth Opportunities
- Rapid Urbanization and Changing Consumer Preferences Establishes Demand for Fast Food, Driving Growth Opportunities for Cheese Powder Market: Asia Pacific Fast Food Market (In US$ Billion) for the Years 2018, 2021 & 2024
- India’s Large Dairy Market Promises Lucrative Growth Opportunities
- India’s Position as a Major Producer of Cow Milk Offers Promising Growth Potential: Breakdown of Global Cow Milk Production (In Million Metric Tons) by Leading Producers and Country (2018)
- Cheddar Cheese - A Major Revenue Spinner
- Rapid Increase in Cheddar Cheese Production to Meet Surging Demand in Food and Beverage Industry Provides Major Revenue Opportunities: US Cheddar Cheese Production (In Thousand Pounds) for the Years 2016, 2018 and 2020
- Millennials Push Demand for Ready to Consume Food Products, Driving Market Growth
- As More Millennials Join the Global Workforce, the Demand for Ready to Consume Food Items Intensifies, Pushing Demand for Cheese Powder: Percentage (In %) Breakdown of Global Workforce by Generation for the Year 2020
- High Sales of Snacks Coupled with the Rise of On the Go Snacking Trend Widens Demand
- Expanding Consumption of Cheese Snacks in the US Favors Demand for Cheese Powder: Total Snacks Sales (In US$ Billion) in the US by Category (2018)
- Reinvention of Cheese as a Healthy Snack Bodes Well for Market Expansion
- Exhibit 1: Brief Details of Nutritional Facts of Common Types of Cheese
- Expanding Application Scope Influences Market Prospects
- Product Innovations Crucial to Future Market Growth
- Potential Health Risks Associated with Higher Intake of Powdered Cheese Challenge Market Growth
III. MARKET ANALYSIS
- UNITED STATES
- CANADA
- JAPAN
- CHINA
- EUROPE
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA-PACIFIC
- AUSTRALIA
- INDIA
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- LATIN AMERICA
- ARGENTINA
- BRAZIL
- MEXICO
- REST OF LATIN AMERICA
- MIDDLE EAST
- IRAN
- ISRAEL
- SAUDI ARABIA
- UNITED ARAB EMIRATES
- REST OF MIDDLE EAST
- AFRICA
- Total Companies Profiled: 42
Note: Product cover images may vary from those shown
