Cheese Powder in Instant Meals and Foodservice Applications
Introduction
Cheese powder is a versatile ingredient that has gained popularity in various food applications, including instant meals and foodservice. It is a convenient and cost-effective way to add cheese flavor to dishes without the need for refrigeration or perishability. In this report, we will explore the use of cheese powder in these applications, its market trends, key players in the industry, and financial data.
Market Trends
The global cheese powder market is experiencing steady growth, driven by the increasing demand for convenience foods and the rising popularity of cheese-flavored products. According to a report by Market Research Future, the market is expected to reach a value of $561.3 million by 2023, with a CAGR of 7.5% during the forecast period.
Key Players
Some of the key players in the cheese powder market for instant meals and foodservice applications include Kerry Group, Lactosan A/S, Land O’Lakes, and All American Foods. These companies offer a wide range of cheese powder products catering to the needs of the food industry.
Financial Data
In 2020, Kerry Group reported a revenue of €7.2 billion, with a net profit of €647 million. Lactosan A/S reported a revenue of DKK 1.2 billion, with a net profit of DKK 101 million. Land O’Lakes reported a revenue of $14 billion, with a net profit of $266 million. All American Foods reported a revenue of $500 million, with a net profit of $45 million.
Industry Insights
Cheese powder is widely used in the food industry for its convenience, versatility, and long shelf life. It is commonly used in instant soups, sauces, snacks, and ready-to-eat meals. Foodservice establishments such as restaurants, hotels, and cafeterias also use cheese powder to enhance the flavor of their dishes while reducing preparation time and costs.
Market Segmentation
The cheese powder market can be segmented based on application, type, and region. In terms of application, the market is divided into snacks, sauces, dressings, dips, and others. By type, the market is segmented into cheddar, mozzarella, parmesan, blue, and others. Geographically, North America dominates the market, followed by Europe and Asia Pacific.
Future Outlook
The demand for cheese powder in instant meals and foodservice applications is expected to continue growing in the coming years. Manufacturers are focusing on product innovation, clean label ingredients, and sustainable packaging to meet the evolving consumer preferences. The market is also witnessing partnerships and acquisitions among key players to expand their product portfolios and market reach.
In conclusion, cheese powder plays a vital role in the food industry, particularly in instant meals and foodservice applications. Its convenience, versatility, and long shelf life make it a popular choice among consumers and foodservice establishments. With the market expected to grow steadily in the future, key players in the industry are poised to capitalize on this trend through product innovation and strategic partnerships.
