Dry cream substitute market is likely to record a strong CAGR 6.8% during the forecast period. The market is currently valued at US$ 2.86 Bn and is likely to reach US$ 5.26 Bn by 2032.
| Attributes | Details |
| CAGR (2022-2032) | 6.8% |
| Value (2022) | US$ 2.86 Bn |
| Value (2032) | US$ 5.26 Bn |
Dry cream is made out of milk & composed of a high butterfat layer, widening the milk products like yogurts, cheese, whipped toppings, and ice cream. It is also used in bakery products such as cakes, bread, and muffins, increasing the sales of dry cream substitutes.
A dry cream substitute is basically made of corn syrup solids, sodium caseinate (As a milk derivative), dipotassium phosphate, silicon oxide, lecithin, artificial flavors, and partially hydrogenated soy oil. They recently introduced products that are being used in small, medium, and large-scale industries at a high rate, enhancing the sales of dry cream substitute.
The number of diseases is increasing are increasing in all age groups. From young generations to old age, individuals are suffering from multiple diseases and disorders such as high blood pressure, diabetes, cholesterol, etc.
Individuals are becoming health-conscious and concentering on exercising and weight management. Individuals are avoiding fat-containing food, which will be the reason for their diseases and obesity.
Nowadays, individuals prefer dry cream substitutes which contain less amount of fats sugar and which are more protein oriented as compared to dry creams. Dry cream substitutes are widely used in biscuits, processed cheeses, bakery mixes, glazes, cakes, confectionery coatings, sauces, yogurts, margarine, cereals, etc., increasing the sales of dry cream substitute.
The dry cream substitute has multiple applications in the food industry, starting from acting as an emulsifier to serving as a food thickening agent.
Dry cream substitute increases the nutritional value and cooking performance of food products. A dry cream substitute is widely used in packed foods, including pasta and pizza. The demand for packed food is increasing rapidly as many individuals live away from their homes for education or employment, increasing the demand for dry cream substitute.
They don’t have time to cook food at home, so they prefer to buy packed food which contains a high number of nutritional values, due to which the demand for dry cream substitute is increasing rapidly.
North America is leading in the dry cream substitute market as the consumption of baked foods, organic condiments, meat is increasing in that region. The improving financial income in the Asia-Pacific is one major reason for the increasing demand for the dry cream substitute. India and China are the major contributors to the increasing growth in sales of dry cream substitute.
Europe holds a major share in the dry cream substitute market. The food & beverage industry is an important asset to Europe economy as it is flourishing industry and companies are introducing innovative food applications frequently. Therefore, increasing the food & beverage industry in Europe is a major reason to increase the demand for a dry cream substitute in that region.
The key players of the Dry cream substitute market are focusing on better taste, new flavors and quality. The competitors also focus on factors like approvals, consumer review and awareness about veganism that drive the demand for Dry cream substitute business. This drives the sales of Dry cream substitute.
Key players in dry cream substitute market include Conagra Foods, Dairy Farmers of America, Marron Foods, Quality Ingredients Corp and MRE Foods.
| Report Attribute | Details |
| Growth Rate | CAGR of 6.8% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 - 2020 |
| Forecast period | 2022 - 2032 |
| Quantitative units | Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments covered | Form, End use, Distribution Channel. |
| Regional scope | North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa |
| Key companies profiled | Conagra Foods, Dairy Farmers of America, Marron Foods, Quality Ingredients Corp and MRE Foods |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
North America is the biggest market for the dry cream substitute market and is expected to hold a big portion of the market in the forecast period due to the rising awareness around the vegan products, alternative cream options in this region.
Key competitors holding substantial dry cream substitute market share are Conagra Foods, Dairy Farmers of America, Marron Foods, Quality Ingredients Corp and MRE Foods
Demand for Dry cream substitute is likely to rise with the factors like health benefits related to dry cream substitute, healthy fat intake and veganism. This increases the demand for dry cream substitute.
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Dry Cream Substitute Market
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