The global cream powder market size was valued at $4.8 billion in 2021 and is projected to reach $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031. Fresh cream and milk are combined to form a cream powder, which is then pasteurized, and spray-dried, to produce a naturally rich cream powder. Another non-dairy option for people with lactose intolerance is coconut cream powder, which is created from the mature coconut's essence and has a moderate coconut flavor. In the food processing sector, cream powder is typically used to make a variety of items, including ice cream, chocolate, sweets, biscuits, and baked goods. When compared to ultra-heat-treated (UHT) milk and fresh cream, cream powder's distinctive qualities - good dispersibility, solubility, flavor, high-fat content, simplicity of handling, and storage - allow it to be used in a variety of applications.
The COVID-19 pandemic resulted in a negative effect on the cream powder market as the bakery, and HoReCa industries are being shut down. For instance, according to the report of the U.S. Department of Agricultural Services, the COVID-19 pandemic has negatively affected the Chinese bakery sector via disruptions to production and distribution. Both packaged and unpackaged baked goods have suffered, though the unpackaged segment has been hit harder due to shorter shelf life, consumers’ limited access to retail outlets, and increased concerns about food hygiene during the pandemic.
Consumers' preference for out-of-home consumption is shifting, and it is expanding rapidly. The tendency of consumers to "enjoy eating away from home" is anticipated to present particular difficulties for market participants. All occasions when a consumer eats a meal outside the house are considered out-of-home consumption. The market for cream powder is anticipated to expand at a quick rate during the projected period due to changes in consumer eating patterns, which present chances for industry participants to produce the new cream powder. Additionally, the growing desire for natural products among consumers is anticipated to fuel the development of the cream powder market.
The growing prevalence of lactose sensitivity may reduce consumer demand for cream powder. For instance, 60% of the world's population cannot metabolize the lactose found in animal milk, according to a National Health Portal of India article. Since plant-based cream powder is another non-dairy option for consumers who suffer from lactose intolerance, market participants hope that it will help them overcome this limitation on the cream powder market. The lactose intolerant population is anticipated to be drawn to the plant-based cream powder being given by various market participants, which is anticipated to increase demand for the cream powder market.
The rise in the vegan population globally owing to the growing concern for the environment as well as animals is expected to create an opportunity for the growth of the cream powder market in the near future. For instance, according to a survey commissioned by the Vegan Society, the number of vegans in the UK quadrupled between 2014 and 2018. In 2019, there were 6,00,000 vegans, around 1.16% of the population. Veganism has led to a corresponding increase in the amount of money that people are willing to spend on the purchase of vegan products. Such a rise in the vegan population coupled with plant-based cream powder being offered by market players such as coconut cream powder which is another non-dairy solution for lactose intolerant consumers made from the essence of mature coconuts and has a mild coconut flavor is expected to create an opportunity for market growth.
The outbreak of COVID-19 has negatively affected manufacturing activities and disrupted the distribution network of the cream powder market globally. People were forced to stay in their homes to limit the spread of the disease. The government’s stringent rules regarding social distancing and complete lockdowns resulted in huge losses for vendors operating in the market. All the major key players and other sales channels were closed during the lockdown period. However, a V-shaped recovery is expected in the post-COVID-19 period.
The cream powder market is analyzed based on source, type, end-user, sales channel, and region. As per the source, the market is segmented into dairy-based and plant-based. According to type, the market is classified into sweet cream powder and sour cream powder. Depending on the end-user, the market is categorized into the bakery industry, dairy industry, and others. By sales channel, the market is segmented into B2C and B2B sales channels. The sweet cream powder and sour cream powder segments are further bifurcated into less than 30% fat, 30% to 60% fat, and above 60% fat. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key leading players operating in this market include A The Food Source International, Inc., Arion Dairy Products B.V., Bluegrass Ingredients, Inc., Fonterra Co-operative Group Limited, Commercial Creamery Company, Shandong Tianjiao Biotechnology Co., Ltd., County Milk Products, Revala Ltd., Shenzhen Oceanpower Food Equipment Tech Co., Ltd., and WillPowder, LLC.
The COVID-19 pandemic resulted in a negative effect on the cream powder market as the bakery, and HoReCa industries are being shut down. For instance, according to the report of the U.S. Department of Agricultural Services, the COVID-19 pandemic has negatively affected the Chinese bakery sector via disruptions to production and distribution. Both packaged and unpackaged baked goods have suffered, though the unpackaged segment has been hit harder due to shorter shelf life, consumers’ limited access to retail outlets, and increased concerns about food hygiene during the pandemic.
Consumers' preference for out-of-home consumption is shifting, and it is expanding rapidly. The tendency of consumers to "enjoy eating away from home" is anticipated to present particular difficulties for market participants. All occasions when a consumer eats a meal outside the house are considered out-of-home consumption. The market for cream powder is anticipated to expand at a quick rate during the projected period due to changes in consumer eating patterns, which present chances for industry participants to produce the new cream powder. Additionally, the growing desire for natural products among consumers is anticipated to fuel the development of the cream powder market.
The growing prevalence of lactose sensitivity may reduce consumer demand for cream powder. For instance, 60% of the world's population cannot metabolize the lactose found in animal milk, according to a National Health Portal of India article. Since plant-based cream powder is another non-dairy option for consumers who suffer from lactose intolerance, market participants hope that it will help them overcome this limitation on the cream powder market. The lactose intolerant population is anticipated to be drawn to the plant-based cream powder being given by various market participants, which is anticipated to increase demand for the cream powder market.
The rise in the vegan population globally owing to the growing concern for the environment as well as animals is expected to create an opportunity for the growth of the cream powder market in the near future. For instance, according to a survey commissioned by the Vegan Society, the number of vegans in the UK quadrupled between 2014 and 2018. In 2019, there were 6,00,000 vegans, around 1.16% of the population. Veganism has led to a corresponding increase in the amount of money that people are willing to spend on the purchase of vegan products. Such a rise in the vegan population coupled with plant-based cream powder being offered by market players such as coconut cream powder which is another non-dairy solution for lactose intolerant consumers made from the essence of mature coconuts and has a mild coconut flavor is expected to create an opportunity for market growth.
The outbreak of COVID-19 has negatively affected manufacturing activities and disrupted the distribution network of the cream powder market globally. People were forced to stay in their homes to limit the spread of the disease. The government’s stringent rules regarding social distancing and complete lockdowns resulted in huge losses for vendors operating in the market. All the major key players and other sales channels were closed during the lockdown period. However, a V-shaped recovery is expected in the post-COVID-19 period.
The cream powder market is analyzed based on source, type, end-user, sales channel, and region. As per the source, the market is segmented into dairy-based and plant-based. According to type, the market is classified into sweet cream powder and sour cream powder. Depending on the end-user, the market is categorized into the bakery industry, dairy industry, and others. By sales channel, the market is segmented into B2C and B2B sales channels. The sweet cream powder and sour cream powder segments are further bifurcated into less than 30% fat, 30% to 60% fat, and above 60% fat. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key leading players operating in this market include A The Food Source International, Inc., Arion Dairy Products B.V., Bluegrass Ingredients, Inc., Fonterra Co-operative Group Limited, Commercial Creamery Company, Shandong Tianjiao Biotechnology Co., Ltd., County Milk Products, Revala Ltd., Shenzhen Oceanpower Food Equipment Tech Co., Ltd., and WillPowder, LLC.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cream powder market analysis from 2021 to 2031 to identify the prevailing cream powder market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cream powder market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cream powder market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Source
- Dairy-based
- Sub Segment
- Less than 30% Fat
- 30% to 60% fat
- Above 60% fat
- Plant-based
By Type
- Sweet Cream Powder
- Sour Cream Powder
By End User
- Bakery Industry
- Dairy Industry
- Others
By Sales Channel
- B2B
- B2C
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- New Zealand
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- The Food Source International, Inc.
- Arion Dairy Products B.V.
- Bluegrass Ingredients, Inc.
- Fonterra Co-operative Group Limited
- Commercial Creamery Company
- Shandong Tianjiao Biotechnology Co., Ltd.
- County Milk Products
- Revala Ltd.
- Shenzhen Oceanpower Food Equipment Tech Co., Ltd.
- WillPowder, LLC.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CREAM POWDER MARKET, BY SOURCE
CHAPTER 5: CREAM POWDER MARKET, BY TYPE
CHAPTER 6: CREAM POWDER MARKET, BY END USER
CHAPTER 7: CREAM POWDER MARKET, BY SALES CHANNEL
CHAPTER 8: CREAM POWDER MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Cream Powder Market," the cream powder market was valued at $4.8 billion in 2021, and is estimated to reach $8.9 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.The cream powder is prepared from a blend of fresh cream and milk that has been pasteurized and spray-dried to create a naturally rich cream powder. Coconut cream powder is another non-dairy solution for lactose intolerance consumers which is made from the essence of mature coconuts and has a mild coconut flavor. The cream powder is generally used in the food processing industry for preparing various products such as ice creams, chocolate, desserts, biscuits, baked food products, and others. The unique characteristics of cream powder such as good dispersibility, solubility, flavor, high-fat content, ease to handle, and storage as compared to ultra-heat treatment (UHT) milk and fresh cream, make cream powder ideal to use in various applications. The cream powder is also a cost-effective solution compared to fresh cream as it reduces refrigeration, is easy to store as well as has a high shelf life.
The rising bakery and dairy industries are expected to fuel the cream powder market as cream powder is being used in both. Along with this, the rising adoption of baking as a hobby by the global population is also expected to fuel the market. For instance, according to the Australian Institute of Family Studies (AIFS), 46% of the population of Australia were most likely to spend more time baking or doing art and craft. Along with this, the cream powder is a cost-effective solution in comparison to ultra-heat treatment (UHT) milk and fresh cream since it reduces the cost of refrigeration, and it is easy to store as well as has a high shelf life which makes it a popular choice among consumers. Furthermore, it also has various advantages such as good dispersibility, solubility, flavor, and high-fat content. Such rising preference among the global population toward cream powder owing to its unique characteristics is expected to boost the cream powder market size. Along with these factors rising health-conscious consumers and changing consumers’ preference toward dairy alternatives coupled together is expected to boost the market demand.
The rising lactose intolerance can hamper the demand for the cream powder market. For instance, according to an article by the National Health Portal of India, 60% of the world's population is unable to process lactose in animal milk. However, the plant-based cream powder being introduced by market players may help overcome such restraint of the cream powder market since the plant-based cream powder is another non-dairy solution for lactose intolerance consumers. The plant-based cream powder being offered by various market players of the cream powder market is expected to attract the lactose intolerance population toward it which in turn is expected to boost the demand for the cream powder market.
The rise in the vegan population globally owing to the growing concern for the environment as well as animals is expected to create an opportunity for the growth of the cream powder market in the near future. For instance, according to a survey commissioned by the Vegan Society, the number of vegans in the UK quadrupled between 2014 and 2018. In 2019, there were 6,00,000 vegans, around 1.16% of the population. Veganism has led to a corresponding increase in the amount of money that people are willing to spend on the purchase of vegan products. Such a rise in the vegan population coupled with plant-based cream powder being offered by market players such as coconut cream powder which is another non-dairy solution for lactose intolerance consumers which is made from the essence of mature coconuts and has a mild coconut flavor is expected to create an opportunity for market growth.
The cream powder market is analyzed based on source, type, end-user, sales channel, and region. As per the source, the market is segmented into dairy-based and plant-based. According to type, the market is classified into sweet cream powder and sour cream powder. Depending on the end-user, the market is categorized into the bakery industry, dairy industry, and others. By sales channel, the market is segmented into B2C and B2B sales channels. The sweet cream powder and sour cream powder segments are further bifurcated into less than 30% fat, 30% to 60% fat, and above 60% fat. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Insights
- On the basis of source, the dairy-based cream powder segment dominated the cream powder industry in 2021 and is expected to retain its dominance throughout the forecast period.
- On the basis of type, the sweet cream powder segment dominated the cream powder industry in 2021 and is expected to retain its dominance during the forecast period.
- By end-user, the bakery segment led the global cream powder market demand in 2021 and is expected to retain its dominance throughout the forecast period.
- On the basis of sales channels, the B2B segment dominated the global market in 2021 and is expected to retain its dominance throughout the forecast period.
- Region-wise, North America accounted for the highest cream powder market share in 2021 and is expected to grow at a CAGR of 6.1%.
Companies Mentioned
- The Food Source International, Inc.
- Arion Dairy Products B.V.
- Bluegrass Ingredients, Inc.
- Fonterra Co-operative Group Limited
- Commercial Creamery Company
- Shandong Tianjiao Biotechnology Co., Ltd.
- County Milk Products
- Revala Ltd.
- Shenzhen Oceanpower Food Equipment Tech Co., Ltd.
- WillPowder, LLC.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 248 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 4.8 billion |
| Forecasted Market Value ( USD | $ 8.9 billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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