New insights into the global whipping cream powder market reveal a promising future for producers and stakeholders, with a projected CAGR of 8% spanning from 2023 to 2030. Experts anticipate that by the close of this period, the market will have touched a remarkable US$1.7 billion in sales.
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A key ingredient in a myriad of baked goods and confections, whipping cream powder has witnessed a surge in its popularity. The market comprises of both dairy and non-dairy options, expanding its reach to a diverse array of consumer preferences.
Key Market Influencers
The non-dairy segment, in particular, has observed a pronounced uptick, a trend attributable to the growing inclination towards vegan and plant-based diets. This shift isn't solely based on personal dietary choices but is also influenced by the revival of the foodservice sector post-pandemic. Given its longevity and ease of use, whipping cream powder is becoming a staple in many commercial kitchens.
Moreover, the ascendancy of online retail platforms has further propelled the product into the spotlight, offering a convenient medium for consumers to explore and purchase.
While Europe retains a dominant position in the whipping cream powder arena, thanks to its deep-rooted culinary traditions and robust dairy sector, the Asia Pacific region is emerging as a powerhouse. Demographics, heightened urbanization, and evolving consumer tastes are propelling this rapid ascent, positioning Asia Pacific as a pivotal market segment by 2030.
Like any burgeoning market, the whipping cream powder sector is not without its challenges. Nutrition-conscious consumers voice concerns about the health implications of such products. To truly thrive, the industry must pivot towards a more health-centric approach without compromising on the iconic taste profile whipping cream offers.
Industry Players and Future Outlook
The competitive landscape is led by industry giants such as Kraft Heinz, Wilton Brands LLC, and Dr. Oetker. Their presence promises innovations, ushering in a new era for the whipping cream powder domain. The future likely holds a product range that harmonizes culinary excellence with health-centric priorities.
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