Whipping Cream Powder Market - Global Whipping Cream Powder Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030

The global market for whipping cream powder is on the path to substantial growth, with an anticipated Compound Annual Growth Rate (CAGR) of 8% during the period from 2023 to 2030. By the end of 2030, the sales of whipping cream powder are projected to generate revenues worth US$1.7 billion. This impressive expansion is driven by the increasing demand for convenience foods and the growing prevalence of plant-based and vegan alternatives.

Market Overview

Whipping cream powder, a versatile dairy or non-dairy product, has a multitude of applications, primarily in the bakery and confectionery industries. It can be reconstituted with water to create a creamy texture similar to freshly whipped cream, making it a valuable ingredient for cakes, pastries, desserts, and toppings. As consumer preferences evolve, manufacturers are exploring non-dairy plant-based options to cater to the growing demand for vegan products.

Key Findings

• Revenue Expansion: The whipping cream powder market is poised for substantial revenue growth between 2023 and 2030, driven by factors such as convenience and extended shelf-life.
• Dairy vs. Non-Dairy: While dairy-based whipping cream powder remains in demand, non-dairy alternatives are experiencing the fastest growth, aligning with the surge in plant-based diets.
• Bakery and Confectionery Dominance: In 2022, the bakery and confectionery category held the highest market revenue share, emphasizing the vital role of whipping cream powder in enhancing various sweet creations.
• Europe Leads, Asia Pacific Grows Strong: Europe continues to be the leader in the whipping cream powder market, whereas the Asia Pacific region is expected to witness the highest growth until 2030.

Growth Drivers

• Demand for Convenience Foods: The fast-paced, hectic lifestyles of consumers are driving the demand for convenience foods. Whipping cream powder aligns perfectly with this trend, offering a hassle-free solution for creating creamy textures without liquid cream. Its longer shelf-life and ease of reconstitution make it an attractive option for busy consumers.
• Plant-Based Alternatives: The surge in plant-based diets, driven by health, environmental, and ethical concerns, is boosting the market. Plant-based whipping cream powders cater to consumers who are lactose intolerant, have dairy allergies, or choose vegan or vegetarian diets. These alternatives align with sustainability concerns, as they often have a lower carbon footprint and reduced water usage compared to traditional dairy products.

Challenges

• Health Concerns: Increasing consumer health and nutrition awareness can lead to more informed purchasing decisions. Consumers may opt for lower-fat or healthier alternatives, potentially impacting the demand for traditional whipping cream powder. Competition from alternative products, including those fortified with additional nutrients, can serve as a restraint for market growth.

Overview of Key Segments

• Dairy-based vs. Non-Dairy: Dairy-based whipping cream powder remains popular due to its authentic taste and versatility. It is valued for its role in various culinary creations, including desserts, pastries, sauces, soups, and beverages. Non-dairy alternatives are gaining traction, particularly among those seeking vegan or lactose-free options.
• Bakery and Confectionery Applications: Whipping cream powder is extensively used in bakery and confectionery applications. It enhances the texture, flavor, and presentation of baked goods and sweet treats. It contributes to the indulgence and satisfaction of consumers by creating a luxurious and velvety mouthfeel in various desserts.

Growth Opportunities Across Regions

• Consumption in Europe: Europe's rich culinary traditions, diverse bakery and confectionery culture, and demand for high-quality dairy products have contributed to its leadership in the whipping cream powder market. European consumers appreciate the convenience and versatility of whipping cream powder in their culinary endeavors.
• Profitable Asia Pacific: The Asia Pacific region is emerging as a lucrative market, driven by a growing population, urbanisation, changing consumer preferences, and an expanding foodservice industry. The demand for convenience foods and the adoption of international culinary trends are key factors contributing to market growth.

Competitive Landscape

Leading players in the whipping cream powder market include Kraft Heinz, Wilton Brands LLC, Adams Food Ingredients Ltd, Weikfield, Betty Crocker, AussieBlends, Dr. Oetker, Well & Good, Hoosier Hill Farm, and Swiss Bake Ingredients Pvt. As the market continues to evolve, these key players are expected to play a significant role in shaping its future.