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(MoneyNewsWire.Net, April 04, 2018 ) The Latin America Cheese Powder Market was worth USD 69.92 million in 2016 and is estimated to be growing at a CAGR of 6.86%, to reach USD 97.43 million by 2021. The market is showing great potential in the mentioned forecasting period. 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
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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.
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.
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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. On the basis of geography, the Latin America market is analysed under various regions namely Brazil, Mexico, Argentina and Chile. 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.
There are many players which are dominating the market, some of the key companies include Lactosan A/S, Kerry Group Plc, Kraft Foods Group, Inc., DairiConcepts, LP, Land O’Lakes, Inc., Kanegrade Limited, and Archer Daniels Midland Company.
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