Cream substitute Market: Market Outlook
The luscious taste of coffee or a creamy texture soup is the gift of added cream. Be it pasta or a cake, the cream just makes everything taste better. Apart from giving flavours to food it also is better at making consumer susceptible to heart disease owing to its high-fat content. Creams are made up of high-fat of fresh milk and sugar. This might not be suitable for everyone due to rising lactose intolerance level in the consumers. Hence, cream substitutes are in demand.
Cream substitutes are available in dairy and non-dairy forms. These cream substitutes are made up of using different combinations of soy milk, cornstarch, butter, yogourt, olive oil, artificial flavours, full-fat coconut cream, cashew cream, evaporated milk and others. These cream substitutes are gaining attention from all the health-conscious consumers. These cream substitutes work as good as normal cream with better nutritional value.
Cream substitute Market: Market Dynamics
The Food industry consumption driving the Cream substitute market
The cream substitutes can be used as an emulsifier in the food industry for the food thickening. In the packaged food, these cream substitutes are widely used from the last few years. The cream which was indispensable in the bakery and confectionery goods is now replaced by cream substitutes to add the nutritional content of the products. This demand from the food industry is fueling the demand for the cream substitutes market.
Increase in demand for cream substitutes due to increased consumption by individuals
Many consumers are suffering from diseases like heart problems, high blood pressure, diabetes, and others due to unhealthy eating habits. The irregular food intake and fats containing packaged goods are leading to obesity. These consumers are now showing interest in the cream substitutes. The sales of cream substitutes have increased by the consumers who want to manage their weight without compromising on the taste.
Cream substitute Market: Segmentation
On the basis of source type, the global cream substitutes market has been segmented as
On the basis of application, the global cream substitutes market has been segmented as
On the basis of the product form, the global cream substitutes market has been segmented as
On the basis of End-users, the global cream substitutes market has been segmented as
On the basis of Distribution Channel, the global cream substitutes market has been segmented as
On the basis of Region, the global cream substitutes market has been segmented as
Cream substitute Market: Key Players
The cream substitutes are new to the food industry. Their demand is rising with time. Conagra Foods, Dairy Farmers Of America, Marron Foods, Quality Ingredients Corp., MRE Foods, are few major players in the cream substitutes market.
Cream substitute Market: Opportunities
The competition is fierce even though cream substitute market is relatively new. The manufacturers are coming up with innovative types of cream substitutes. They are trying to add the functional benefits of the cream substitutes. New entrants can try associating with already existing players in the food industry—and can make the cream substitutes as per their requirement. This industry will exhibit a strong CAGR in the forecasted period.
Cream substitute Market: Regional outlook
The increasing health consciousness is changing consumers’ eating habits. North America has shown a great interest in the cream substitutes. Europeans are also not ready to sacrifice on their flavours or taste of cream and in result demanding for more cream substitutes. The European and American markets will witness a great demand in the upcoming future.
In the Asian markets, India and China have shown an inclination towards cream substitutes. The diet consciousness and weight managements are becoming the vitals reasons for the sales of cream substitutes.
The Middle East and African markets will exhibit an increase in sales in the near future. Overall, the cream substitute market will rise in the forecasted period owing to its health benefits and the qualities of the food products.
COVID-19 Impact on Global Cream substitute market
The cream substitute production is relatively a complex process. During the outbreak of this global pandemic, the manufacturing plants were severely hampered. The suppliers could not cater to the demand. Shortly, this impact will be neutralized and the cream substitute market will show a good response from the market.