Cream Market is segmented By Product (Fresh, Table, Heavy, Whipping, Others), By Source (Non-Dairy, Dairy), By Application (Commercial, Household) By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Global Cream Market reached USD 17.2 billion in 2022 and is expected to reach USD 25.0 billion by 2030 and grow with a CAGR of 4.8% during the forecast period 2024-2031. The leading players are focusing on launching unique and innovative product variants to expand their consumer base, representing significant growth in the global cream market. Furthermore, cream's vast range of applications, from bread to confectionary, drives the market growth.
The inclusion of innovative product development with low trans-fat and organic cream products is increasing the growth potential of the global cream market. Increased product launches with creative ideas such as flavoured, low-calorie, and low-fat creams are also expanding the market.
Key players are now focusing on social media platforms and online distribution channels for their products, online marketing, and branding to attract more customers. For instance, in January 2023, The Bega Group expanded its product offerings and introduced cream cheese products which can be purchased from Woolworths and independent stores in Australia.
Market Summary
| Metrics | Details |
| CAGR | 4.8% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Product, By Source, By Application |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics
The Increasing Demand for Read y-to-Eat Foods Drives the Growth of the Global Cream Market
There is an increased demand for ready-to-eat worldwide. Raised sales of RTE food are mainly due to lucrative offers in combo packs, festive offers, flat discounts, and coupon discounts by retailers. There was a 40% increase in the demand for frozen, packaged and luxury food items. The increase in the working women population and curiosity to adopt Westernised food culture also contribute to the high adoption of ready-to-eat foods.
Further rapid urbanisation and progressively hectic lifestyles left people with little time for food preparation driving the segment’s growth. In 2022, the employment-to-population ratio worldwide was estimated to be approximately 55.8 percent. Using cream in bakeries, confectionery, coffee, and other products, drives the market growth.
Innovative Product Developments of Cream are Driving Cream Market Growth
There is an immense innovation running in the cream market. There is an increasing health consciousness among people. The healthy choice of foods is now in trend. The cream is widely used in many food sectors, from bakeries to confectioners. Heavy cream is used in savoury and sweet dishes, and light cream is the same as coffee. With growing health awareness, manufacturers are also focussing on innovative cream products.
Innovative product development with low trans-fat and organic cream is gaining a more significant response. The flavoured, low-calorie, and low-fat creams are also becoming famous among people with diabetes and obesity. Non-dairy and plant-based cream developments are also driving market growth. For instance, In February 2023, Alamance Foods launched three distinct flavours of dairy-free substitutes for whipped cream, such as oat, almond, and coconut.
The Increasing Health Problems are Restraining the Cream Market Growth
The cream is a dairy product. Most of the cream-based products now available are rich in lactose. With the increased usage of dairy cream in most products, there is also an increase in lactose intolerance worldwide. According to the National Center of Biotechnology Information, 65% of the world’s population is lactose intolerant.
In addition, the cream is loaded up with high-fat and high calories. As there is an increasing risk of diabetes and obesity, people are avoiding food products with cream as they are rich in sugars which ultimately have adverse effects on maintaining a healthy diet. Creams are even rich in saturated fats that harm heart health. All these health issues are hindering market growth.
Market Segmentation Analysis
The global cream market is segmented based on product, source, application, and region.
In the Global Cream Market, the Fresh Cream Segment Holds the Largest Market Share.
The global cream market has been segmented by product into fresh, table, heavy, whipping, and others. The fresh cream segment held the largest cream market share of 38.4% in 2022 in the cream market analysis report. The increased usage of fresh cream in all regions leads to a larger market segment share.
Most manufacturers focus on cream processing, cream separation, and composition to produce to process cream that contains less fat than whipped cream. It can be easily used for thickening coffee and savoury dishes such as gravies and soups and adventure to the recipe. It is rich in calories, fat and acts as an energy booster. It is rich in calcium, phosphorous, and minerals helping the body maintain health and well-being.
Market Geographical Share
The North America Held the Largest Share of the Cream Market.
The global cream market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American cream market held the largest market share of 38.6% in 2022 in the cream market analysis. The increasing usage of cream-based products contributes to the cream market growth in this region.
The fast-paced lifestyles and changing dietary patterns of individuals catalyse the demand for fast food and ready-to-eat products prepared with cream in this region. The traditional cuisine of this region usually includes different food products with rich usage of cream all over. The increased preference for cream-based products in this region is driving the market.
Companies and Competitive Landscape
The major global players in the market include Glanbia Plc, Groupe Lactalis, Savencia Fromage & Dairy, Fonterra Co-operative Group, GCMMF, Friesland Campina, DMK Group, Arla Foods, SODIAAL, and Saputo.
COVID-19 Impact on Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the cream industry. Covid-19 has considerably impacted the global food supply chain phases involving cream production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
The COVID-19 pandemic issue has had an impact on the food industries as well. The COVID-19 pandemic is upending life, and the food sector is seeing increased trends like cream. The food businesses are launching innovative programs, including non-dairy creams, which are readily available and straightforward to consume.
By Product
- Fresh
- Table
- Heavy
- Whipping
- Others
By Source
- Dairy
- N0n-Dairy
By Application
- Commercial
- Household
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- 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 January 2023, Woodlands Dairy, a food and beverage manufacturer, launched a new Ultra Heat Treatment (UHT) whipping cream. The claims that its product is suitable for various applications such as desserts, cakes, milkshakes, pies, waffles, and warm drinks. The product’s launch is to satisfy the growing demand for whipping and internationally.
- In April 2021, Prairie Farms Dairy introduced 18 cream cheese and ice cream products. The products are from 100% natural milk and cream sourced from local farm families. They comprised six cheese flavours in 3.5 Oz right-size cups and 12 ice-cream flavours in pint cartoons in the market.
- In January 2020, Silk, an American brand of dairy-substitute products, launched a dairy-free version of heavy whipping cream made with coconut oil, sunflower oil, faba bean protein and guar gum. The product is vegan, gluten-free, non-GMO Project Verified, and keto-friendly.
- In September 2020, Somrus, Indian Cream Liqueur, announced the launch of Coffee Cream Liqueur. This new product is made from coffee and chicory mixed with natural dairy cream from Wisconsin and quintuple-distilled Caribbean rum.
Why Purchase the Report?
- To visualize the global cream market segmentation based on product, source, application, and region and understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of cream market-level with all segments.
- The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The Global Cream Market report would provide approximately 61 tables, 57 figures and 160 Pages
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
