Global Cream Market - 2023-2030

Global Cream Market - 2023-2030

Global Cream Market reached US$ 17.2 billion in 2022 and is expected to reach US$ 25.0 billion by 2030 and grow with a CAGR of 4.8% during the forecast period 2023-2030. The rising health awareness among individuals propels market players to introduce low-fat and vegan fresh creams, driving the growth of the global cream market.

The industry's increasing emphasis on research and development activities spurs new product innovations and enhancements, benefiting the cream market. For instance, in August 2021, Good Culture launched a lactose-free line and a squeezable, classic sour cream pouch. Apart from this, individuals' fast-paced lifestyles and changing dietary patterns catalyze the catalyzing of fast food and ready-to-eat (RTE) products prepared with fresh cream.

Leading players focus on launching unique and innovative product variants to expand their consumer base, representing one of the significant major trends. Other factors, including the increasing expenditure capacities of the consumers, along with the convenient product availability through online retail channels, are anticipated to drive the market toward growth.

Market Dynamics

The Growing Usage of Cream is Estimated to Drive the Cream Market Growth.

The cream is used as an ingredient in many foods, including ice cream, many sauces, soups, stews, puddings, and some custard bases, and is also used for cakes. Whipped cream is served as a topping on ice cream sundaes, milkshakes, lassi, eggnog, sweet pies, strawberries, blueberries or peaches. The cream is also used in Indian curries, such as masala dishes. Manufacturers focus on cream processing, separation, and composition to produce better creams.

Traditionally, the product is widely utilized in the bakery and coffee industry. However, in recent years, the rising application of the product in numerous sectors, such as alcohol and personal care, is anticipated to drive product sales. For instance, in September 2020, Somrus announced the launch of Somrus Coffee Cream Liqueur. This new product is made from coffee and chicory mixed with cream from Wisconsin and quintuple-distilled Caribbean rum.

Innovative Product Development Associated with Cream is Driving the Market Growth.

There is a growing health consciousness in people, and they are now focussing on a healthy diet to improve health and provide a healthy lifestyle. Various product innovations, such as the launch of sugar-free, lactose-free, organic, and vegan whipping creams in novel flavors, such as rose, cinnamon, and mango, favor the market’s growth. For instance, in August 2021, Good Culture launched a lactose-free line and a squeezable, classic sour cream pouch.

The rising health awareness among individuals propels market players to introduce low-fat and vegan fresh creams. Moreover, increasing investments by the key market players in promotional activities to expand their consumer base and reach propel the market growth. Companies compete on different factors, including product offerings, quality, price, functionality, size, packaging, and marketing activities, to gain a competitive advantage in the market.

Increasing Intolerance of Lactose Restrains the Cream Market Growth.

The cream is used in vast products from bread to confectionery. The cream is a dairy product. Dairy cream has lactose as natural sugar in them. Heavy cream is used in savory and sweet dishes, and light cream is the same as coffee creams. Many people can’t digest lactose and are intolerant to them. This has become one of the most common food intolerances. According to the National Center of Biotechnology Information, 65% of the world’s population is lactose intolerant.

Lactose intolerance has become more common overwide. In addition, the increasing lactose intolerance is making people look for dairy alternatives in all fields, including creams. Rates of lactose intolerance vary between regions, from less than 10% in Northern Europe to as high as 95% in parts of Asia and Africa. This is restraining the market growth.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global cream market is segmented based on product, source, application, and region.

In the Global Cream Market, the Fresh Cream Segment Holds the Largest Market Share.

The global cream market has been segmented by product into fresh, table, heavy, whipping, and others. In the cream market analysis report, the fresh cream segment held the largest cream market share of 56.6% in 2022. The most common usage of fresh cream in various cream-based products is responsible for the largest segment share.

Fresh cream is a critical ingredient in food products to enhance flavor and provide a thicker consistency. It is an excellent source of calcium, phosphorus, and vitamin B2 that promotes the development of red blood cells (RBC), boosts the immune system, and maintains overall health. Besides this, it helps strengthen bones and teeth, improves brain functioning, and provides energy. As a result, fresh cream is extensively used in domestic and commercial applications.

Geographical Analysis

The North America Region Held the Largest Share of the Cream Market.

The global cream market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American cream market held the largest market share of 38.6% in 2022 in the cream market analysis. Most people’s choice of cream-based food products is increasing the growth of this region's cream market.

As a result of the increasing popularity of coffee culture and shifting customer preferences, cream consumption has increased in this region. The cream is crucial in coffee preparation and other products since it gives flavor, texture, and creaminess. Consumers increasingly request extra coffee, increasing cream goods and ingredients in this region.

Competitive Landscape

The major global players in the market include Glanbia Plc, Groupe Lactalis, Savencia Fromage & Dairy, Fonterra Co-operative Group, GCMMF, Friesland Campina, DMK Group, Arla Foods, SODIAAL, and Saputo.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

Covid-19 Impact:

The unprecedented COVID-19 pandemic in 2020 profoundly affected the food industry. Covid-19 has considerably impacted the global food supply chain phases involving cream production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food industries as well. The COVID-19 pandemic is upending life, and the food sector is seeing increased trends like cream. The food businesses are launching innovative programs, including non-dairy creams, which are readily available and straightforward to consume.

Why Purchase the Report?
• To visualize the global cream market segmentation based on product, source, application, and region and understand vital commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of cream market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of critical products of all the major market players.

The Global Cream Market report would provide approximately 61 tables, 57 figures and 160 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies