Whipping Cream Market Size, Share, Growth, And Industry Analysis, By Type (Dairy Whipping Cream and Non-Dairy Whipping Cream), By Application (Cake, Dessert, Beverage Solution, Bakery-Filling, Soup Base/Sauce and Ice-Cream) And Regional Forecast To 2032

Updated On: 04 November 2024

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WHIPPING CREAM MARKET REPORT OVERVIEW

During the Projected Period of [2024-2032], the Whipping Cream Market Size is anticipated to produce revenue and exponential market expansion at a Remarkable CAGR.

The market of whipping creams is constantly growing due to an increasing demand from the foodservice sector and household consumption. In other words, one may call it a market for all whipping cream that exists. Whether based on milk or non-dairy, it finds application for a host of purposes related to bakeries, confectionery, and desserts. Now there is an increase in demand due to increasing trends in home baking and interests in plant-based and vegan alternatives.

COVID-19 Impact: disruptions in supply chains and volatility of raw material prices delayed production

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has extremely affected the Whipping Cream Market growth, disrupted its supply chains, and changed raw material prices; therefore, causing delays and increases in production cost. Furthermore, increased home cooking and baking on the part of customers during the lockdown also contributed to a higher demand for whipping cream, which benefited more through retail channels where increased demands due to changes returned losses that were experienced from the fall in the demand from food services. Such changes in behavior at the part of the market consumers have been good enough to reflect the new level of resilience and adaptability of the market structure with regard to the ongoing crisis in health.

LATEST TRENDS

"Consumer awareness shifts to plant-based and vegan alternatives"

The current trends in whipping creams are towards more plant-based and vegan alternatives, to lure an emerging customer base that is sensitive towards health and sustainability. In the segment of dairy-alternative products, there is innovation in the form of coconut whipping cream, almond whipping cream, and oat-based dairy-free whipping cream, in step with the lactose-free and allergen-free trend.

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WHIPPING CREAM MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into dairy whipping cream and non-dairy whipping cream.

• Dairy Whipping Cream: This is the original form of cream derived from milk and enjoys a large market demand owing to being rich and creamy in nature, be it in cake or dessert preparation.

• Non-Dairy Whipping Cream: Processed creams, plant-based, and derived from soy, almond or coconut targeting lactose intolerant, vegan consumers, and fitness enthusiasts.

By Application

Based on application the global market can be categorized into cake, dessert, beverage solution, bakery-filling, soup base/sauce and ice-cream.

• Cake: It results in an appendix is and imparts a creamy thick layer over the cake as a replacing to buttercream or icings and thereby provides the cake with more taste and looks.

• Dessert: In many kinds of desserts like mousses and puddings, it is added to render texture and achieve the smooth and textures airy status.

• Beverage Solution: It's put into beverages such as coffee and hot chocolate to give a smooth, airy top at the end.

• Bakery-Filling: This is implemented to give moisture and a better depth of flavor as a filling for pastries and bakery products.

• Soup Base/ Sauce: In preparing soups and sauces, it forms a base used in getting creaminess and uplifts the flavor profile.

• Ice Cream: It imparts smooth and creamy texture, enhancing texture in ice cream formulations.

DRIVING FACTORS

"Rising consumer preference for premium and artisanal products promotes market expansion"

One witnesses an increasing quest by the consumer for high-quality, whip cream, inventive products that can deliver better taste, texture, and quality. That is because one is observing a growing awareness of the growing quality of food and an emerging urge to include epicurean experiences within the home environment. Customers are ready to pay that premium for whipping cream, made of quality ingredients, free of all types of additives or preservatives that taste rich and authentic. The other important trend driving this demand is actually the emergence of food influencers and cooking shows having Caucasian faces, which all call for the use of premium quality ingredients, thereby making consumers desirous of replicating such culinary experience at their homes. The heightened attractiveness of such wares today can be, hence, partly linked to the raised consumer expectations by interest in specialty coffee shops and patisseries translating in the desire for creams that underline food and drink/ eating experience.

"Growth in home baking and cooking trends fuel market growth"

Increasing trends in home baking and cooking are among major factors driving the Whipping Cream Market growth. In recent years, home baking and cooking have taken a radical turn. The pandemic periods of COVID-19 characterized by lockdown and observance of social distancing confined people to their homes. With extra time at their disposal, a lot of consumers got engaged in baking and cooking as a kind of hobby, which increased the demand for ingredients such as whipping cream. Whipping cream fits into that mould of general-purpose ingredients equally at home finding lots of applications in the kitchen from adding richness to soups or sauces, producing fluffier desserts, cakes, and pastries, or making creamy fillings. This has led to retail sales in whipping cream. At the same time, it has created diversity within the products on offer: from whipping cream produced from plants to those low in fat, it can cater to a divergent range of diets. Many factors of this kind contribute to even further market growth of whipping cream, given that manufacturers are constantly innovating new commodities to meet increasing demand and, consequently, new consumers' tastes and preferences.

RESTRAINING FACTORS

"High cost of raw materials restrict market growth"

Volatility in prices and the high pricing of dairy, which is a raw material in whipping cream, restrains the Whipping Cream Market. The cost of milk in itself represents the main ingredient for dairy whipping cream and is highly volatile, being subject to many influencing factors, from climatic change to feed prices and supply chain disruption. These price fluctuations will ultimately translate to high production costs for the manufacturers, who then pass them on to the consumer through high prices at the retail level. Besides, with the presence of value-added ingredients such as almond, soy, or coconut attributed to other non-dairy whipping creams, there are also high raw material costs that have increased with the growth in plant-based alternatives. This can speed up the negative impact and even prevent price-sensitive consumers from evolving, and it may hamper market potentials, since in most of the lowest disposable incomes in some of the areas.

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WHIPPING CREAM MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America leads the market as a result of strong consumer demand for dairy and non dairy cream products"

North America dominates in the whipped cream market share due to high consumer demand for both dairy and non-dairy cream products. Although this region has been a key dominance in the sector due to the prevalence of an established food service sector and an increase in the consumption of bakery items and dessert items, the scope increased due to the increased trend towards home cooking and baking. North America over the years has been witnessing an increased preference for plant-based and organic food which fosters innovation and creates a scope in the section of whipping cream. A dense retail infrastructure and a wide availability of whipping cream products in the region make it even more dominating in the world market.

KEY INDUSTRY PLAYERS

"Market leaders focus on innovation and product diversification in order to meet consumer demands"

Major market players in the whipping cream sector are undergoing active innovation and product differentiation to be able to cater to the changing preferences of consumers. Companies like Rich Products Corporation and Danone North America have been diversifying into newer plant-based and lactose-free whipping creams to temperature the overwhelming consumer demand for vegan and allergen-friendly products. At the same time, the classic dairy brands, Lactalis International and Amul, have focused their product portfolio on organic and premium variants to attract this segment of health-conscious consumers. Moreover, many companies are focusing on investment in sustainable packaging solutions and digital marketing strategies to enhance consumer participation and building their more robust presence in the market. These will allow companies to gain the much-needed advantage over others and, hence, hold a larger market share with a greater intensity of attractiveness to people of varying dietary inclinations and lifestyle changes.

LIST OF MARKET PLAYERS PROFILED

• Lactalis International (France)
• Rich Products Corporation (U.S.)
• Fonterra (New Zealand)
• BASF (Germany)
• Amul (GCMMF) (India)
• Danone North America (former WhiteWave) (U.S.)
• Savencia Fromage＆Dairy (France)
• Farina Food JSC (Vietnam)
• Sun-in (South Korea)
• Fuji Oil Asia Pte. Ltd. (Singapore)
• Uhrenholt (Denmark)
• Tan Nhat Huong (Vietnam)

INDUSTRIAL DEVELOPMENT

September 2023: Rich Products Corporation launches new plant-based whipping cream into the North American market. An innovation with a new-to-world solution in alignment with the growing dairy-free and vegan demand rising on the bakery and confectionery market.

REPORT COVERAGE

This report focuses on the global Whipping Cream Market, target segments such as dairy and non-dairy whipping creams, and the diverse range of applications, which include cakes, desserts, drinks, bakery fillings, soups, and ice cream. To provide an insight into the market trends, driving factors, and restraining elements with a key focus on regional dominance, particularly in North America. Also, the key players and their strategic efforts toward innovation in the line of changes in consumer perception and preference are highlighted in the report.