Market Research Future has published a cooked research report on the Global Dairy cream market, 2021–2028. The global dairy cream market is projected to exhibit a CAGR of 3.90% during the forecast period of 2021 to 2028.
Market Research Future has recognized the following companies as the key players in the global dairy cream market: Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF/Amul) (India), Arla Foods (Denmark), Land O'Lakes, Inc. (US), Lactalis Group (France), Royal FrieslandCampina N.V. (Netherlands), Agropur (Canada), Saputo Inc. (Canada), Dairy Farmers of America, Inc. (US), Fonterra Co-operative Group (New Zealand), and Organic Valley (US).
The global dairy cream market is projected to be valued at USD 20,841.3 million by 2028, recording a CAGR of 3.90% during the forecast period. Dairy creams are designed to enhance the flavor of the product. Health benefits associated with the consumption of dairy cream is considered one of the key factors for the rising growth of the global dairy cream market. Additionally, increasing application areas of dairy cream and increasing demand for low-fat dairy cream are driving the market growth. However, the adoption of vegan and plant-based protein products and a rise in incidences of lactose intolerance are hampering the growth of the market. The global dairy cream market is estimated to emerge as a lucrative environment for the vendors in both developed and developing economies due to the increasing demand for organic products.
The global dairy cream market has been segmented based on product type, end use, and region.
Based on product type the global dairy cream market has been segmented into thickened cream & whipping cream, sour cream, fresh cream, and others. The thickened cream & whipping cream segment accounted for the largest market share of 36.63% in 2021. Thickened cream is matured and sawn with lactic ferments. The cream is matured in the tank in order to acidify, thicken, and intensify the taste. The thickened cream has a fat content of 55% to 60% and hence is not recommended for cooking as it tends to separate on heating. It is ideal as a filling in desserts. Whipping cream is obtained by the introduction of air in the cream with an appropriate overrun at low temperatures between 5 °C and 10 °C for a 30% fat cream. The cream is cold stored for usually 24 hours before overrun to get a stable foam. This step is very crucial for obtaining foam with the right texture and stability, as it creates partial fat-crystallization. Whipping cream is usually served with milkshakes, crepes, waffles, pancakes, and cupcakes.
Based on end use, the global dairy cream market has been segmented into food processing, food service, and food retail. The food processing segment accounted for a larger market share of 53.42% in 2021. Food processing segment is further bifurcated as bakery & confectionery, dairy & frozen desserts, sauces, dressings, & spreads, and others. Dairy cream is an essential ingredient used in food processing industries. Dairy cream is used also with some flavoring and decoration ingredients such as cherries and sugar balls in food processing industry.
On the basis of region, the dairy cream market has been categorized as North America, Europe, Asia-Pacific, South America, Middle East, and Africa. As per MRFR analysis, Europe accounted market share of 34.08% of the global market in terms of value in 2021 growing at a CAGR of 3.63% during the forecast period. The UK, Germany, the Netherlands, and France have significant contribution in the growth of the market in Europe. The increasing use of dairy cream in bakery products is driving the growth of the market in Europe. Moreover, the presence of manufacturers such as Arla Foods amba, Lactalis Group, and Royal FrieslandCampina N.V., along with various strategies adopted by these manufacturers, is expected to propel the market during the forecast period. For instance, in May 2019, Lactalis Group acquired Nuova Castelli S.p.A., an Italy-based company specializing in the production and distribution of most of the renowned dairy products in the Italian dairy industry.North America dominates the market with a market share of 31.00% with a CAGR of 3.74% during the forecast period 2022-2028. The US is a key market for dairy cream manufacturers, followed by Canada. The consumption of dairy cream is high in the US due to its preference in soups, sauces, and dressings. Moreover, the high consumption of frozen desserts in North America is boosting the sales of dairy cream. The demand for organic products is rising in North America, influencing manufacturers to launch organic dairy cream. Moreover, owing to the high prevalence of obesity in the region, manufacturers are focusing on launching products with low-fat claims. Asia-Pacific holds a market share of 22.24% of the global dairy cream market in 2021, growing at a CAGR of 4.50% during the forecast period. The growth of the market in this region is driven by the growing food service industry, especially in developing countries such as India, China, Indonesia, and Indonesia. The increasing number of restaurants, bars, and cafés in this region is resulting in a rise in the consumption of dairy cream primarily in dressings, confectionery, dairy products, and desserts. Manufacturers are also focused on establishing their footprint in Asia-Pacific. For instance, Lactalis Group acquired Prabhat Company, India, a leading supplier of dairy ingredients in January 2019. Moreover, increasing consumer awareness is leading to the growth in retail sales of dairy cream. The growth of the organized retail sector in the region is driving the growth of the market, with products being made easily available to consumers. South America holds a market share of 5.21% of the global dairy cream market in 2021, growing at a CAGR of 4.22% during the forecast period. The growth of the dairy cream industry is anticipated to be driven by several factors. One of the significant factors for the rising growth of dairy cream is increasing usage of dairy cream in culinary purposes over the last few years. On the other hand, the consumption of dairy & frozen desserts has increased over the last few years in the South American countries that enforces the demand of dairy cream.Middle East holds a market share of 4.58% of the global dairy cream market in 2021, growing at a CAGR of 4.14% during the forecast period. The growth of the dairy cream is attributed to the increasing usage dairy cream in several food products. The increasing usage of dairy cream in several frozen desserts and bakery & confectionery is anticipated to act one of the major growth drivers in the Middle East region. Moreover, the HORECA industry is growing in the Middle East market especially in the UAE and Saudi Arabia which in turn accelerates demand of dairy cream in the near future. According to MRFR analysis, the foodservice industry in the UAE is valued at approximately 8.14 Bn in 2020 and is expected to gain exponential growth during the years to come. There has been a gradual shift in the food consumption pattern of consumers due to various social and economic changes across the UAE.Africa holds a market share of 2.90% of the global market in 2021, growing at a CAGR of 3.27% during the forecast period. The mounting growth of frozen desserts and bakery & confectionery in several African countries is likely to upsurge the demand of dairy cream during the forecast period. Moreover, the food service industry has witnessed a tremendous growth over the last few years which is anticipated to fuel the growth of dairy cream during the forecast period.
Key Findings of the Study: