Global Whipping Cream Powder Market Projected to Exhibit Significant Growth with a CAGR of 8% from 2023 to 2030
The global whipping cream powder market is poised for substantial growth, with predictions estimating a commendable 8% Compound Annual Growth Rate (CAGR) from 2023 to 2030. By the end of the forecast period in 2030, the sales of whipping cream powder are projected to garner revenues amounting to US$1.7 billion, showcasing the dynamic and expanding landscape of this industry segment.
Whipping cream powder, a fundamental ingredient in both bakery and confectionery industries, has been witnessing an increasing demand due to evolving consumer preferences and the burgeoning trend towards convenience foods. The powder is available in dairy and non-dairy variants, meeting a wide range of culinary needs while offering extended shelf-life compared to its liquid counterparts.
Market Dynamics and Growth Drivers
The non-dairy segment of the market is witnessing a surge, driven by a consumer shift towards plant-based and vegan products. These trends are not just shaped by a change in dietary habits but also the steady recovery of the foodservice sector in the post-pandemic era, where whipping cream powder's ease of use and longer shelf-life is highly valued.
Consumer behavior is significantly shifting towards dairy-free options, fostering growth in the plant-based food and beverage sector. Moreover, the emergence and growth of e-commerce platforms have played a pivotal role in escalating the market reach, providing consumers a wider array of choices right at their fingertips.
Europe continues to be a strong player, holding a significant share in the whipping cream powder market. The rich culinary tradition and a well-established dairy industry in the region have spearheaded its lead in the market.
However, the Asia Pacific market is the one to watch, with predictions pointing to the strongest growth in this region by 2030. Factors such as a booming population, increasing urbanization, and changing consumer preferences underline the potential of this market.
The road to 2030 does come with its hurdles. Potential health concerns surrounding the nutritional value of whipping cream powder products may act as a market restraint, steering health-conscious consumers towards alternative products. The industry faces the task of innovating while maintaining a balance between taste and health.
With stalwarts like Kraft Heinz, Wilton Brands LLC, and Dr. Oetker among others leading the charge, the competitive landscape promises innovative solutions and products to cater to a broader consumer base with varied preferences.
The coming years are expected to witness a rise in products that not only meet the culinary requirements but also align with the consumers’ health and nutritional goals, carving a sustainable path forward for the whipping cream powder industry.
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