Cream Powder Market Report 2024

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 rise during the historical period was driven by higher demand for dairy-based products, creamy beverages, and convenient 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%. Anticipated growth in the forecast period is fueled by the rising popularity of ready-to-eat foods, a growing vegan demographic, and increased demand for baked goods. Key trends expected during this period include product innovation, technological advancements, and the introduction of new products and services.

The increasing consumption of bakery products is anticipated to drive growth in the cream powder market in the future. Bakery products encompass a wide array of items made from wheat flour to produce diverse final bakery-related goods. The global rise in demand for bakery products is influenced by shifts in lifestyle, health preferences, economic factors, and advancements in the food industry. Cream powder offers an extended shelf life compared to fresh cream, aligning with consumer preferences for longer storage periods. For example, according to a report from the American Bakers Association in 2021, sales of baking ingredients and supplies saw significant increases in 2020. Furthermore, statistics from Euromonitor International, as published on the Government of Canada's official website in October 2022, indicate that retail sales of baked goods in the US surged to $67.9 billion in 2021 and are projected to reach $75.8 billion by 2026. Hence, the growing demand for bakery products is propelling the expansion of the cream powder market.

Leading companies in the cream powder market are introducing instant powder mixes to broaden their product portfolios and meet the rising demand for plant-based alternatives. Instant powder mixes are dry, soluble powders designed to be quickly blended with water or another liquid to create ready-to-consume beverages, food products, or culinary ingredients. For instance, Nestlé S.A., a Swiss multinational, launched Nido instant powder in October 2023 in Central and West Africa. This product, called Nido Milk & Soya, combines milk with local soy, offering essential nutrients such as protein, fiber, iron, and calcium. Developed by Nestlé's regional R&D team in Abidjan, Côte d'Ivoire, this versatile product complements various cereals, porridges, and beverages and has recently debuted in Nigeria.

In April 2024, Greenyard, a Belgian company known for manufacturing fresh, frozen, and prepared fruit and vegetables, acquired Crème de la Crème for an undisclosed sum. This acquisition enables Greenyard to broaden its range of plant-based dairy alternatives and reinforce its presence in the expanding market for dairy-free frozen desserts. Crème de la Crème, based in the US, specializes in innovative plant-based ice cream, frozen snack products, and cream powder, including products such as Creme De La Creme Mica Powder.

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.

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.

The countries covered in the cream powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cream powder is the dried form of cream, produced through spray-drying or freeze-drying to reduce its water content significantly. Made from pasteurized sweet cream, it retains the flavor and richness of liquid cream while offering an extended shelf life and easier storage and transport. To use, it is reconstituted by mixing with water to achieve a creamy consistency akin to fresh cream.

Cream powder is categorized into two main types high fat powder and lipid powder. High fat powder, with a fat content exceeding 40%, includes dairy-based and plant-based variants. These find application in diverse sectors such as bakery, soups, sauces, dairy products, beverages, confectionaries, desserts, and more. Distribution occurs through supermarkets, hypermarkets, online retail, specialty stores, and other channels.

The cream powder market research report is one of a series of new reports that provides cream powder market statistics, including the cream powder industry global market size, regional shares, competitors with cream powder market share, detailed cream powder market segments, market trends, and opportunities, and any further data you may need to thrive in the cream powder industry. These cream powder market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The cream powder market consists of sales of instant cream powder, whipping cream powder and organic cream powders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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