The imitation whipped cream market is set to grow at 4.6% CAGR, reaching US$ 1,502.9 Mn by 2030, driven by plant-based trends.
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.
Imitation whipped cream is produced using either the vegetable oils or the plant-based milk and are then spray-dried to achieve change them into a powder form. Imitation whipped cream in the powdered form have 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 do not require any additional efforts. The storage of imitation whipped cream in supermarkets is also easier and cost-effective as these non-dairy creamers have an extended life. Thus, the value of the imitation whipped cream is higher in the global market.
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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.
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.
Nature
Form
Product Type
End-Use
Sales Channel
Region
To gain more insights into the market with a detailed table of content and figures, click here: https://www.futuremarketinsights.com/toc/rep-gb-419
MITATION WHIPPED CREAM MARKET – KEY RESEARCH FINDINGS
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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The main topic is the growth and trends in the imitation whipped cream market from 2021 to 2030.
The rising demand for plant-based dairy alternatives and non-dairy creamers is driving market growth.
COVID-19 has temporarily impacted the market due to restaurant and food chain closures.
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