Global Vegan Whipped Cream Market - 2023-2030

Global Vegan Whipped Cream Market - 2023-2030

Global Vegan Whipped Cream Market reached US$ 458.1 million in 2022 and is expected to reach US$ 724.6 million by 2030, growing with a CAGR of 5.9% during the forecast period 2023-2030.

Urbanization and the changing lifestyles of consumers are increasing the adoption of various Western food products by the general population. The incorporation of desserts such as cupcakes, waffles and puddings is now commonly observed globally. The higher the consumption of these products, there is higher the demand for the whipped creams which is used as topping of these products.

The increasing health and environmental concerns related to the use and consumption of animal-based whipping creams are fueling the need for dairy-free whipped cream. The rise in the adoption of veganism leads to an increase in vegan whipped cream use in bakery applications. Manufacturers are offering various soy and nut-based vegan whipped creams in attractive pouch and spray-type packages.

The new product launches by the market players with health claims are increasing the product's popularity in the market. In January 2020, Silk, a plant-based beverage brand, introduced a new product in their company portfolio by launching dairy-free whipped cream into the market. This non-dairy product is of zero sugar and keto friendly. Health-conscious consumers who are attentive to their calorie intake are widely adopting such products, driving market growth.

Dynamics

Increasing Demand for Dairy-Free and Vegan Products

People with dairy allergies are adopting dairy-free products in all categories, including whipped cream. Traditionally whipped creams are made from dairy sources. Lactose intolerance and cow milk allergy are some of the allergy concerns associated with the consumption of dairy whipping cream. According to the National Library of Medicine, approximately 65% of the global population is suffering from lactose intolerance after infancy.

According to the American College of Allergy, Asthma & Immunology, around 2- 3 % of infants and young children have cow milk allergies and is considered to be one of the common food allergies in children. Cow milk allergy in adults is noted to be around 2%. The increasing concerns with the consumption of dairy products are driving the need and demand for dairy-free products.

According to the World Animal Foundation, approximately 88 million vegans are present worldwide, as of 2023 stats. With the rising awareness about animal health and cruelty, there is an immense increase in the vegan population worldwide. People are adopting plant-based options of the whipping cream application, driving the market growth.

Product Launches with a Wide Range of Plant-Based Sources

Manufacturers are offering vegan whipped cream produced from various plant-based sources in order to reach the increasing demand for vegan whipped cream for their application in bakery and dairy products. The launch of new products with plant-based milk is expanding the market growth. For instance, in August 2022, Country Crock, a food brand from Upfield, launched plant-based whipped cream made from lentil milk. The product contains 29 % less fat than that of dairy-based whipped cream.

Manufacturers are involving pea protein in vegan whipping cream to increase the protein content of the product. For instance, in August 2020, Hanan Products Company Inc., a whipped dessert toppings manufacturer, launched Tasty Whip Vegan, a clean-label non-dairy product produced from pea protein and aquafaba. The product claimed to have enhanced taste and volume compared to other non-dairy products.

High Costs and Huge Competition of the Product

The vegan whipping cream market is still in its early establishment changes. Some people are still unaware of the existence of the product in the global market. Manufacturers of the vegan whipping cream market are launching innovative products with the use of various plant-based resources to gain consumers' attention. The ingredients used for the production of vegan whipping creams such as almonds, soy and coconut are more expensive than the dairy ingredients.

The limited availability and high cost of these ingredients may negatively impact the market growth. The ingredient sourcing influences the final price of the product, making it expensive compared to conventional products. Non-allergic people choose animal-based dairy whipping creams due to their rich taste and properties. With the high competition from the dairy-based whipping market, the vegan whipping cream market faces challenges to grow in the global market.

Segment Analysis

The global vegan whipped cream market is segmented based on source, packaging, distribution channel, end-user and region.

Increasing Consumer Preference for HoReCa Food Products

The global market for vegan whipped cream is divided into two categories based on end-users: households and HoReCa. The HoReCa segment has the largest share of the market as these products are widely used in the food service industries. Recently, the HoReCa segment has rapidly expanded due to changes in consumer lifestyles and a higher rate of eating out.

Famous cafes are now offering vegan whipped cream on their menus to cater for the increasing number of people following a vegan diet. For example, in March 2023, Costa Coffee, a British coffeehouse chain, introduced a dairy-free whipped cream as an alternative to dairy whipped cream which is used in the preparation of handmade drinks.

The high demand for these products is leading well-known brands to include them in their offerings in order to maintain their market lead. For instance, in May 2023, Starbucks, an American multinational chain of coffeehouses, announced its plan to launch vegan whipped cream in its coffee shops across the UK in October 2023.

Geographical Penetration

Increasing Vegan Population in North America

North America dominated the global vegan whipped cream market. The region has a high demand for bakery and confectionery products. Desserts, pancakes and other products are increasingly consumed in U.S., Canada and other parts of the region. Whipping being used as an essential part of these products, has increased demand among the food service sectors.

The increasing health and environmental awareness among consumers is increasing the vegan population in this region. According to the World Animal Foundation, 6% of U.S. population is vegan as of 2023. The manufacturers of this region are releasing new and innovative products increasing the market size. Manufacturers are launching vegan whipped creams to meet the demand for the product among vegan consumers.

Competitive Landscape

The major global players in the market include So Delicious Dairy Free, Gay Lea Foods Co-operative Ltd., Conagra Brands, Truwip, Trader Joe's, Schlagfix, Natures Charm, Tropolite, Heng Guan Food Industrial and Califia Farms.

COVID-19 Impact Analysis

The global vegan whipped cream market was moderately affected by the outbreak of the COVID-19 pandemic. As a response to the sudden outbreak of the disease, governments declared lockdowns to contain its spread. Consequently, manufacturing and processing industries had to temporarily shut down, halting the production of products.

The supply chain and distribution channel disruptions led to a shortage of products in convenience stores. Moreover, the HoReCa shutdown has resulted in decreased demand for the product. However, the availability of these products through e-commerce platforms and increased demand for household use have boosted market sales. The market has also benefited from consumers' increased health consciousness and high adoption of vegan diets.

Russia-Ukraine War Impact

Russia and Ukraine war had a negative impact on all industries, including food. The war resulted in supply chain disruptions that negatively affected the market economy. The pause in the sourcing of raw materials and the distribution of final products to other countries due to interrupted import and export transactions severely affected market growth.

By Source
• Soy-Based
• Coconut-Based
• Nut-Based
• Others

By Packaging
• Pouch
• Bottles and Jars
• Others

By Distribution Channel
• Supermarkets and Hypermarkets
• Convenience Stores
• E-Commerce
• Others

By End-User
• Household
• HoReCa

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In February 2023, Alamance Food, a United States-based food production company. introduced Whipt, a dairy-free whipped cream, which is available in oat, almond and coconut flavors. The product is gaining popularity as a gluten-free and vegan substitute for dairy-whipped creams.
• In November 2022, Califia Farms, a leading plant-based beverage brand, announced the launch of dairy-free products in their product lines. The brand is to release dairy-free whipping cream into the market that acts as a substitute for dairy-based heavy whipping cream.
• In March 2020, Upfield’s Flora brand, the largest plant-based consumer product company, added plant-based whipping cream to their product offering, which targeted the food service industry in U.K.

Why Purchase the Report?
• To visualize the global vegan whipped cream market segmentation based on source, packaging, distribution channel, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of vegan whipped cream market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global vegan whipped cream market report would provide approximately 85 tables, 88 figures and 223 Pages.

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