Global Cheese Powder Market Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2026
The global cheese powder market is estimated to be USD 400 million in 2019 and is projected to surpass USD 600 billion by 2026, at a CAGR of greater than 7%. The growth of this market is expected to be driven by the varied application of the product in the food industry.
Cheese powder manufacturers are focusing on providing personalized flavors in the cheddar cheese powder segment, ranging from sweet and buttery to savory flours. In addition, manufacturers are exploring innovative ingredients to develop new flavor profiles and product offerings.
Rising consumer focus on nutritional values offered by the product such as low calories and high proteins and vitamins is projected to have a positive impact on the market. However, shift of consumer base towards vegan diet, owing to factors including animal rights and environment protection, is poised to hinder the growth of the market over the forecast period.
Initiatives taken by manufacturers to offer novel flavors, better quality, and attractive packaging are likely to bode well for the market over the forecast period. These products can be fortified with vitamin D, calcium, and DHA, which can improve their nutritional values.