Dairy Cream Market Overview
The global dairy cream market is a thriving market. Market growth attributes to health benefits associated with the consumption of dairy cream. Besides, growing uses of dairy cream in applications such as bakery confectionery and dairy frozen desserts boost the market growth. The market is expected to emerge as a lucrative space for vendors in developed and developing regions due to the increasing demand for organic products.
Also, the rising popularity of functional drinks and energy drinks substantiate the market demand hugely. Moreover, rising consumer preference for natural food products escalates the market growth to further height. According to Market Research Future (MRFR), the global dairy cream market is expected to reach USD 20,841.3 MN by 2028, registering 3.80% CAGR throughout the forecast period (2021-2028). Growing numbers of health-conscious populaces impact market growth.
Increasing product launches with innovative ideas such as flavored cream, low-calorie low-fat cream, etc, accelerate the growth of the market. Additionally, wide applications of dairy cream ranging from bakery to functional foods increase the market size. Conversely, factors such as the rising veganism, preference for plant-based protein products non-dairy cream, and prevalence of lactose intolerance hamper the growth of the market.
Global Dairy Cream Market - Competitive Landscape
Highly competitive, the dairy cream market overview appears fragmented with the presence of many well-established players. MA, brand reinforcement, and innovation remain key trends for these players to gain a larger competitive share in the market. These industry players focus on strengthening their geographic footprints by expanding their reach and launching innovative products.
They also strive to develop a cost-competitive manufacturing method to reduce the overall product cost and product range with minimized downtime and increased shelf life. The market competition is estimated to intensify with product innovations and extensions.
Manufacturers increasingly try to enhance their products with innovations such as flavored cream, cream enhanced with omega-3 fatty acids, or whole functional cream that help maintain and/or reduce heart disease, cholesterol, and hypertension. These players emphasize more on delivering unique products with differentiation, making products with improved shelf-life.
Major Players:
The global dairy cream key market players include Arla Foods (Denmark), Gujarat Co-operative Milk Marketing Federation Ltd. (India), Land O'Lakes, Inc. (US), Royal FrieslandCampina N.V. (Netherlands), Lactalis Group (France), Agropur (Canada), Dairy Farmers of America, Inc. (the US), Saputo Inc. (Canada), Fonterra Co-operative Group (New Zealand), and Organic Valley (US), among others.
Global Dairy Cream Market - Segment
The dairy cream market report is segmented into three dynamics;
By Type : Thickened, Whipping, Fresh, Sour Cream, and others.
By End-Use: Food Processing (Dairy Frozen Desserts, Bakery Confectionery, Sauces, Dressings Spreads, others.), Food Service, Food Retail, and others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Dairy Cream Market - Geographical Analysis
Europe dominates the global dairy cream market. The region gained around 34.18% share of the overall market in 2021. The larger market share attributes to the increasing consumption of dairy cream in bakery products and changing consumer preferences. Moreover, the presence of industry players such as Arla Foods and Royal FrieslandCampina N.V. positively impacts the growth of the market.
Besides, growing dairy cream applications for food dressing purposes fosters the growth of the regional market hugely. Additionally, growing markets in Germany and the UK support regional market growth. The European dairy cream market size is projected to retain its dominance over the global market throughout the forecast period, registering 3.57% CAGR.
North America accounts for the second-largest dairy cream market share. The market is driven by the rapidly growing hotels/restaurants/cafes (HoReCa) industry in the region. Moreover, the high consumption of dairy cream in functional beverages and the popularity of energy drinks propel market growth. Furthermore, changing consumption patterns influence the high production volume.
Simultaneously, the presence of a large number of production bases, many well-established players, and consumers positively impacts regional market growth. The North American dairy cream market in the region is projected to register a significant CAGR during the assessment period.
The Asia Pacific dairy cream market is promisingly growing. Factors such as the high-level production and popularity of cream in the region contribute to the market growth. The region is experiencing substantial developments over the past few years due to the rapid urbanization and shift in consumption patterns, which, in turn, is boost the market growth. Besides, significantly growing markets in Australia, New Zealand, China, and India drive the growth of the regional market. The APAC dairy cream market is projected to generate a substantial revenue pocket during the review period.
Industry/Innovation/Related News:
July 14, 2020 ----- Superior Dairy Inc. (the US), announced its plans to expand its milk processing and packaging lines at the plant in Canton, entering markets that complement its fluid dairy business. The company invested around USD 25.5 MN in this expansion project would increase its capacity to make cottage cheese, sour cream, and cream products.
Also, the packaging line in caseless containers (plastic jugs) can be shipped without the use of cases or boxes. This investment demonstrates Superior Dairy's focus on innovation and technology that will expand beyond the US and feed the world with the highest quality product.
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