““The cheese powder market is projected to grow at a CAGR of 7.5%”
The cheese powder market is projected to grow at a CAGR of 7.5% from 2015 to 2020. The market is driven by factors such as the increased demand for convenience foods and fast food due to growing urbanization. Furthermore, innovative product offerings have also increased the demand for cheese powder. The high growth prospects in emerging markets from developing regions provide new growth opportunities for market players.
“Cheddar cheese segment accounted for the largest market share in 2014”
Based on the type of cheese powder, the cheddar segment in the cheese powder market accounted for the largest share, followed by the mozzarella cheese segment. Cheddar cheese powder is used on a large scale for the production of various convenience food and fast foods in regions such as North America and Europe where there is an increased demand for convenience based foods.
“Sauces, dressings, dips & condiments segment is projected to lead the cheese powder market in North America and Europe”
On the basis of application, the cheese powder market is led by the sauces, dressings, dips & condiments segment, followed by sweet & savory snacks, bakery & confectionery, and ready meals. The ready meals segment is projected to grow at highest CAGR during the forecast period due to the busy lifestyles of the consumers.
“The demand of cheese powder is expected to grow at the highest CAGR in Asia-Pacific”
Due to the rising demand for fast food and convenience foods in Asia-Pacific, the cheese powder market is projected to grow at highest CAGR from 2015 to 2020 in this region. The demand for cheese powder is higher in developed regions such as North America and Europe due to the rising demand for a range of convenience food types.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS
By Company Type – Tier 1 – 45 %, Tier 2 – 30% and Tier 3 – 25%
By Designation – C level – 60%, Director level – 30%, Others – 10%