Client’s Goals

Our client, an Italian cheese powder manufacturer, engaged MarketsandMarkets to expand its business globally. Our team offered in-depth intelligence across the revenue mixes of client’s clients and their clients. It helped in identifying lucrative latent opportunities. Our team defined and solved a series of problems that helped the client to strengthen its foothold in the global market. Few of the key problems solved during the engagement were:

• Understanding of the regional insights
• Identification of the major applications of cheese powder in different countries

Our Approach

We leveraged KnowledgeStore, our AI-driven market intelligence platform, to provide a holistic view of the market potential of cheese powder for application areas such as bakery and confectionery, sweet and savory snacks, sauces, dressings, dips and condiments, and ready meals. Our analysts also identified potential countries (such as the US, Canada, Mexico, France, and Germany) that are likely to witness increased demand for cheese powder.

We interviewed potential customers in end-use industries to understand their unmet needs, local and regional demand for various types of cheese powder, and changing food preferences.

Revenue Shifts Identified

Increasing demand for vegan food products will help the cheese manufacturer to increase the consumer base as vegan cheese popularity is increasing steadily. Rising awareness of dairy free cheese is also helping companies to widen its product portfolio.

Interconnections

The increasing preference for vegan diets among consumers along with the high prevalence of lactose intolerance among the population is contributing to the adoption of non-dairy products as well as plant-based cheese. A few start-ups have come up with lab produced milk compounds used to manufacture cheese that are closer to the plant-based options of cheese such as from cashews or other sources. One of the companies has already produced a prototype of mozzarella and ricotta.

Unknowns Identified

Market of spreadable cheese undergoing many developments which is a result of convergence of some of key consumer trends. Consumers are demanding high-end, ethnic and spicy flavors such as ghost peppers, wasabi, peppadew peppers, craft beer, wine, truffles, bacon, and regional or gourmet cheeses. Additionally, the growing trend of healthy and gourmet snacks are compelling manufacturers to invest in Greek style cream cheese products.

Revenue Impact (RI)

Our findings helped the client better understand the regional demand for various types of cheese powder and emerging applications for each, as well as devise its strategy for market penetration in different countries. It allowed the client to identify new revenue pockets, with projected revenue growth of USD 8–10 million in five years. Our cleint services team helped the client to develop a better understanding of major applications of cheese powder in different countries and accordingly align its strategy to increase its global presence.