The global imitation whipped cream market size is anticipated to reach US$ 1,502.9 Mn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 4.6% CAGR between 2020 and 2030. According to the report, the rising demand for imitation whipped cream in the food and beverage industry will fuel market growth. The report offers a comprehensive market overview, covering prevailing trends and opportunities. It also highlights key growth drivers and restraints to offer refined forecast on growth opportunities.
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It includes in-depth insights into the imitation whipped cream market. Some of these are:
- The estimated value of the market was at US$ 958.7 Mn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Asia Pacific excluding Japan recorded high growth in the global imitation whipped cream market in the year 2020.
- Imitation whipped cream markets Europe and North America will remain lucrative through the forecast period.
- Conventional imitation whipped cream is expected to remain the dominant segment in terms of the nature of imitation whipped cream.
- Players in the market are likely to focus on research and development to find new sources to make plant-based whipped cream and imitating whipped cream frosting.
“Rising popularity of plant-based ingredients in the food and beverage industry is anticipated to drive the imitation whipped cream market. It is also expected to benefit from increasing preference for coffee and ready to drink beverages among millennial. Changing consumption habits, coupled with focus on health and wellness will steer growth in favour of the market,” said a lead analyst at FMI.
Shifting Consumers’ Preferences towards Plant-Based Dairy Alternatives
The dairy-usage among the consumers has persisted due unavailability of adequate options in dairy-alternatives and the need for nutrients that only dairy can fulfil. But the change of trend has been observed in recent as producers are coming with a wide range of products in dairy alternatives with variations in color, base and type of these products. Dairy products are preferred more traditionally and manufacturers cannot experiment much with them. With millennial and present-day consumers looking for more options in dairy products, imitation whipped cream market may gain impetus. The variety of imitation whipped cream recipe is plenty. It can be used in different food and beverage preparations, which is a key factor enabling growth in the market.
Dip in Demand Likely as Restaurants and Food Chains Remain Shuttered due to COVID-19
The global food industry is significantly affected by the COVID-19 outbreak, which has resulted in temporary closures of restaurants and food chains. Hence, HoReCa running out of businesses, it could be a major setback for imitation whipped cream market. Nonetheless, the market will pick up once operations in food service industry resumes. Until then, lockdown and preventive measures imposed across nations may curb growth prospects for the market.
Who is winning?
Some of the key players operating in the imitation whipped cream s market are Kraft Heinz Company, Rich Products Corporation, Nestlé S.A, Danone, Trader Joe’s Company, Kerry Group, and more tier two players.
Due to the rising popularity of plant-based food, manufacturers of whipped cream are improving their product offerings. Along with this, they are focusing on technical developments in production technology. Besides these, they are adopting strategies such as merger and acquisitions and collaborating with local/ regional producers across the emerging market to expand their global footprint. These companies are mainly focusing on catering to meet the ongoing trend in the millennium.
Get Valuable Insights into Imitation Whipped Cream Market
Future Market Insights, in its new report, presents an unbiased analysis of the global imitation whipped cream market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into the growth witnessed in the market. In terms of Nature, the market can be segmented into organic and conventional. Based on form, the market can be classified into liquid, and powder. Base on product type the market can be classified into soy creamer, almond creamer, oat creamer, hemp creamer, coconut creamer, rice creamer, cashew creamer, coffee creamer, vegetable cooking cream, other product type. Based on end-use market can be classified food and beverage industry, HoReCa/food services, and household/retail. Based on sales channel the market classified as direct and indirect sales channel. Regionally, the market can be segmented into North America, Latin America, Europe, APEJ, Japan, Oceania, Middle East and Africa.
IMITATION WHIPPED CREAM MARKET TAXONOMY
The global imitation whipped cream market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Soy Creamer
- Almond Creamer
- Oat Creamer
- Hemp Creamer
- Coconut Creamer
- Rice Creamer
- Cashew Creamer
- Coffee Creamer
- Vegetable Cooking Cream
- Other Product Types
- HoReCa/Food Service
- Food & Beverage Processing
- Food Premixes
- Soups and Sauces
- Beverage Mixes
- Coffee Mixes
- Tea Mixes
- Bakery Products and Ice Cream
- RTD Beverages
- Infant Food
- Prepared and Packaged Food
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Store
- Departmental Store
- Online Retailers
- Specialty Store
- Other Sales Channel
- North America
- Latin America