Cream Powder Market Size, Share And Growth Analysis For 2024-2033
Cream Powder Market Size, Trends, And Forecast 2024-2033
Cream Powder Market Size, Trends, And Forecast 2024-2033
LONDON , GREATER LONDON , UK , August 29, 2024 /EINPresswire.com/ -- The cream powder market has shown robust growth in recent years, expanding from $4.93 billion in 2023 to $5.34 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.4%. Despite challenges, the cream powder market is projected to reach $7.39 billion by 2028at a compound annual growth rate (CAGR) of 8.5%, driven by increasing demand for convenience foods, dairy-based products, and creamy beverages.
Rising Demand for Bakery Products Drives Market Growth
The increasing consumption of bakery products is a significant factor propelling the growth of the cream powder market. Bakery products, made from wheat flour, have seen a surge in demand globally due to changing lifestyles, health trends, and innovations in the food industry. Cream powder, with its extended shelf life compared to fresh cream, aligns with consumer preferences for longer storage. For instance, the American Bakers Association reported a 18.7% increase in baking ingredients sales and a 16.3% rise in supplies sales in 2020. Additionally, retail sales of baked goods in the US are projected to reach $75.8 billion by 2026, highlighting the growing market for cream powder.
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Key Players and Market Innovations
Major players in the cream powder market include Nestlé S.A., Unilever PLC, Groupe Lactalis S.A., and Yili Group. These companies are focusing on developing innovative products such as instant powder mixes and plant-based alternatives to meet the evolving consumer demand. For example, Nestlé S.A. launched Nido instant powder in Central and West Africa in October 2023. This product combines milk and plant ingredients, offering essential nutrients like protein and fiber, and can be paired with various cereals and beverages.
Trends Shaping the Future
The cream powder market is experiencing several trends, including advancements in product offerings, technological innovations, and new product launches. Innovations such as high-fat and lipid powder types, along with the introduction of plant-based cream powders, are enhancing market growth. These developments cater to the increasing demand for ready-to-eat foods and vegan options.
Market Segmentation
• By Type: High Fat Powder, Lipid Powder
• By Source: Dairy-Based Cream Powder, Plant-Based Cream Powder
• By Application: Bakery, Soups and Sauces, Dairy Products, Beverages, Confectionaries, Desserts, Other Applications
• By Distribution Channel: Supermarkets or Hypermarkets, Online Retail, Specialty Stores, Other Channels
Geographical Insights: Europe Leads Growth
Europe led the cream powder market in 2023, and Asia-Pacific is expected to be the fastest-growing region during the forecast period. The detailed report provides insights into regional dynamics, market trends, and growth opportunities.
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Cream Powder Global Market Report 2024from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheCream Powder Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on cream powder market size, cream powder market drivers and trends, cream powder market major players, competitors' revenues, cream powder marketpositioning, and cream powder market growth across geographies.The cream powder market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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