Market Size –
The cream powder market size has grown strongly in recent years. It will grow from $4.93 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increase in demand for dairy-based products, increase in demand for creamy beverages, and increase in demand for convenience foods.
The cream powder market size is expected to see strong growth in the next few years. It will grow to $7.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to increasing demand for ready-to-eat foods, growing vegan population, and rising demand for baked goods. Major trends in the forecast period include innovation in product offerings, technological advancements, launches of new products and services.
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Scope Of Cream Powder Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cream Powder Market Overview
Market Drivers –
The rising consumption of bakery products is expected to boost the growth of the cream powder market going forward. Bakery products refer to a wide range of items that use wheat flour to produce various final bakery-related products. The demand for bakery products has been on the rise globally, driven by a combination of lifestyle changes, health trends, economic factors, and innovation in the food industry. Cream powder extends shelf life compared to fresh cream, meeting consumer preference for more extended storage. For instance, according to a report published by the American Bakers Association, a US-based bakery-specific national and state trade association, in 2021, sales of baking ingredients and supplies increased by 18.7% and 16.3%, respectively, in 2020. Further, in October 2022, according to stats sourced from Euromonitor International, 2022 published on the Government of Canada’s official website, retail sales of baked goods in the US reached $67.9 billion in 2021 and are expected to reach US$75.8 billion in 2026. Therefore, the rise in demand for bakery products is driving the growth of the cream powder market.
Market Trends –
Major companies operating in the cream powder market are developing instant powder mixes to expand their product offerings and cater to the growing demand for plant-based alternatives. Instant powder mix is a type of dry, soluble powder designed to be quickly mixed with water or another liquid to create a ready-to-consume beverage, food product, or culinary ingredient. For instance, in October 2023, Nestlé S.A., a Switzerland-based food and drink processing conglomerate corporation, launched Nido instant powder made with a blend of milk and plant ingredients in Central and West Africa. Nido Milk & Soya, which blends the double goodness of milk and local soy, is packed with essential nutrients, including protein, fiber, iron, and calcium. This versatile product, created by Nestlé’s regional R&D team in Abidjan, Côte d’Ivoire, can be paired with various cereals, porridges, and beverages. It has recently launched in Nigeria.
The cream powder market covered in this report is segmented –
1) By Type: High Fat Powder, Lipid Powder
2) By Source: Dairy-Based Cream Powder, Plant-Based Cream Powder
3) By Application: Bakery, Soups And Sauces, Dairy Products, Beverages, Confectionaries, Desserts, Other Applications
4) By Distribution Channel: Supermarkets Or Hypermarkets, Online Retail, Specialty Stores, Other Channels
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Regional Insights –
Europe was the largest region in the cream powder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cream powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cream powder market are Nestlé S.A., Unilever PLC, Groupe Lactalis S.A., Yili Group, Royal FrieslandCampina N.V., Fonterra Co-operative Group Limited, Inner Mongolia Mengniu Dairy Limited, Saputo Inc., Kerry Group plc, Dairy Farmers of America, Schreiber Foods Inc., Doehler Group SE, Müller Industries, GROUPE SODIAAL, DMK Deutsches Milchkontor GmbH, Arla Foods Group, NOW Foods, Parag Milk Foods Ltd, Anand Milk Union Limited (AMUL), Bluegrass Dairy, Walton Feed Inc., Pelwatte Dairy Industries Pvt. Limited, Rogers and Company Foods Pty Ltd, Arion Dairy Products B.V.
Table of Contents
1. Executive Summary
2. Cream Powder Market Report Structure
3. Cream Powder Market Trends And Strategies
4. Cream Powder Market – Macro Economic Scenario
5. Cream Powder Market Size And Growth
…..
27. Cream Powder Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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