Latin America Cheese Powder Market

Latin America Cheese Powder Market Growth and Forecast (2023 - 2028):

Latin America Cheese Powder Market was worth USD 79.65 million in 2022 and is estimated to be growing at a CAGR of 6.86%, to reach USD 110.98 million by 2028. The market is showing great potential in the mentioned forecasting period.

Market Overview:

Cheese is considered as one of the most intricate dairy products, as it takes account of chemical, biochemical, and microbiological processes. Cheese powder in cheese recipes is ordinarily used for flavour value. Sometimes a cheese, especially one eaten fresh, will taste either bland or pungent, particularly in the case of a goat milk cheese, and the addition of cheese powder can really change the flavour. Cheese powder is basically dehydrated cheese and the feature of cheese powder as an additive that can be used in many recipes, boosts the global cheese powder market

Cheese is a food which is derived from milk and is produced in a wide variety of flavours, textures and forms by the coagulation of the protein which is found in milk i.e. Casein. Cheese contains protein and fat from milk, usually the milk produced by cows, buffalos, goats or sheep.

Drivers and Restraints:

The market is driven by the rapid demand of the Cheese powder and cheese related products in the Latin America region. In the recent times, Brazil, Mexico and Argentina are observing high demand of cheese, mainly due to the growing urbanization, lifestyle and eating pattern changes. Also, the shelf life of cheese powder is longer than natural cheese. This is powering the growth of the cheese powder market in this region. The laws and regulations pertaining to the amount and nature of additives to be used in the production of cheese restricts the growth of market.

Latin America Cheese Powder Market Segmentation Analysis:

The Latin America market for Cheese Powder is mainly categorized into Type (Cheddar, Mozzarella, Parmesan, American, and Blue). Based on Application, the market is further segmented into Bakery & Confectionery, Sweet & Savoury Snacks, Sauces, Dressings, Dips & Condiments, and Ready Meals.  Cheddar cheese powder accounted for the highest revenue of the overall industry, followed by Mozzarella cheese powder and Parmesan cheese powder is projected to witness huge growth rate during the forecast period.

Region Analysis:

Geographically the Latin America Cheese Powder Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. The cheese powder market was dominated by Brazil, with the overall market share of over 29%. Brazil was followed by Mexico and Argentina. Mexico is predicted to grow at a rapid pace in the coming few years.

Key Players in the Market:

Major Key Players in the Latin America Cheese Powder Market are

• Lactosan A/S
• Kerry Group Plc
• Kraft Foods Group, Inc
• DairiConcepts, LP
• Land O’Lakes, Inc
• Kanegrade Limited
• Archer Daniels Midland Company