The global cheese powder market has been further categorized into different segments based on application (sauces and condiments, snacks, bakery products, ready meals, and others), product (cheddar cheese powder, parmesan cheese powder, mozzarella cheese powder, and others), distribution channel (supermarkets and hypermarkets, specialty stores, online retailers, and others) and, geography (the Americas, EMEA, and APAC).
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global cheese powder market:
- Availability of cheaper raw material from APAC
- Increasing demand for convenience foods
- Increasing scope for organized retail in emerging economies
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Availability of cheaper raw material from APAC
In Asian countries, raw materials are available at lower prices. This is one of the key factors driving the global cheese powder market. The basic raw material required to prepare cheese powder is milk. It is available in abundance in most Asian countries. Countries like India, China, and Thailand are the major producers and exporters of milk. Cheese powder vendors procure the raw material from these countries at a cheaper cost.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “The production cost is increased as the cheese powder manufacturing process involves spray drying technique that uses expensive machinery. The availability of low-cost raw material helps to moderate the cost of production. A reasonable retail price for products can also be achieved. The overall cost of the products will be reduced because of the scope of cheese powder and its projected growth rate during the forecast period in APAC.”
Increasing demand for convenience foods
The demand for convenience foods has been increasing in recent years. This is due to hectic work life and lifestyle trends that are leaving people with no time to prepare food at home. One of the key drivers for the global cheese powder market is the increase in demand for convenience foods. Cheese powders are utilized in dishes to provide a special flavor and a certain texture. Items ready-to-eat or heat-and-eat comprise the convenience foods.
Products from different food segments such as bakery, confectionary, sweet and savory snacks, and others include cheese powders such as cheddar cheese powder in the preparation. Pasta, macaroni, cupcakes, noodles, and others are some of the dishes that use cheese powder extensively. Companies like Land O’Lakes and Lactosan have come up with different blends of cheese powders.
Increasing scope for organized retail in emerging economies
The impact of organized retail and the changes in customer purchase patterns have increased significantly. Organized retail is becoming more prevalent in emerging economies because of big retailers like Walmart and Tesco expanding their global footprints. Developing countries in APAC such as India, China, and others are witnessing rapid modernization trends. The major sales channel of cheese powder products are retail stores.
“In retail stores, consumers have many alternatives to choose from under a single roof. Furthermore, several varieties of cheese powders can be accommodated because of the increased shelf space. These retail stores utilize proficient distribution networks to decrease the lead time of making products available to the customers. The consistent availability of cheese powder products can be accomplished by this,” says Manjunath.
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