By 2022, the market for imitation whipped cream will be valued at USD 1.1 billion, growing at a CAGR of 6.6% between 2022 and 2032. The imitation whipped cream market is anticipated to reach a value of USD 2.08 billion by 2032.
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 forecasts on growth opportunities.
Key Market Dynamics:
- Rising Demand in Food and Beverage Industry: The report highlights the growing demand for imitation whipped cream in the food and beverage industry as a key driver for market growth.
- Preference for Plant-Based Alternatives: Changing consumer preferences, particularly among millennials, towards plant-based ingredients contribute to the market’s expansion.
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Imitation whipped cream is produced using either vegetable oils or plant-based milk and is then spray-dried to achieve change them into a powder form. Imitation whipped cream in the powdered form has the highest economic contribution due to its higher shelf life, which has an impact on the choice of consumers as well as the retailers that sell the product.
Imitation whipped cream is easily storable and does not require any additional efforts. Consisting imitation whipped cream in supermarkets is also easier and more cost-effective as these non-dairy creamers have an extended life. Thus, the value of imitation whipped cream is higher in the global market.
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,” Nandini Roy Choudhury, Client Partner at Future Market Insights
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.
The global imitation whipped cream market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Nature
- Organic
- Conventional
Form
- Powder
- Liquid
Product Type
- Soy Creamer
- Almond Creamer
- Oat Creamer
- Coconut Creamer
- Rice Creamer
- Cashew Creamer
- Coffee Creamer
- Vegetable Cooking Cream
- Other Product Types
End-Use
- HoReCa/Food Service
- Food & Beverage Processing
- Food Premixes
- Soups and Sauces
- Beverage Mixes
- Coffee Mixes
- Tea Mixes
- Bakery Products and Ice Cream
- RTD Beverages
- Others
- Infant Food
- Prepared and Packaged Food
- Household/Retail
Sales Channel
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Store
- Departmental Store
- Online Retailers
- Specialty Store
- Other Sales Channel