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.
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.
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“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.
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IMITATION WHIPPED CREAM MARKET – KEY RESEARCH FINDINGS
- The growth of imitation whipped cream market is majorly driven by millennial generation, owning to their changing preference in and changing eating habits.
- North America dominates share the imitation whipped cream market and expected to maintain its dominance share during the coming years as well over the other regions.
- Asia Pacific is projected to be the fastest growing market driven by rising usage of imitation whipped cream in the food service industry.
- At present, conventional imitation whipped cream accounts for more than one-third of the market share and expected to maintain its dominance during the coming few years.
- Imitation Whipped cream are expected to find immense application in food and beverage industry over the HoReCa and Household sectors.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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