Non-dairy whipping agents are liquid formulations or spray dried powders, which when mixed with water or milk, followed by whipping, form whipped cream with a desirable texture and taste. Used in multiple verticals of the food industry such as confectionary, bakery, desserts, etc., a non-dairy whipping agent is an ingredient of high importance in the food industry. Non-dairy whipping agents are more often preferred over their dairy counterparts, owing to their cost feasibility. Non-dairy whipping agents are also highly modifiable, as they are not dependent on the dairy cream content in them for their function. Non-dairy whipping agents are also available that are derived from sources of preference, or can be tailor-made for a specific application such as for food processing or for decoration purposes.
Liquid Form of Non-dairy Whipping Agents Expected to Dominate the Market over the Forecast Period
In terms of volume, the liquid form of the non-dairy whipping agents market clearly leads the way. This is due to multiple factors such as ease of availability, ease of use and storage, and availability of non-dairy whipping agents through retail sales for a wider consumer base to reach. The powder form of non-dairy whipping agents is not highly utilized as of now, but is expected to reach a marginally higher CAGR than the liquid form of non-dairy whipping agents over the forecast period. The bakery industry is expected to remain a large influence on the non-dairy whipping agents market, largely due to multiple applications of non-dairy whipping agents in bakery products. This influence of bakery products in the non-dairy whipping agents market can be attributed to Europe and North America, primarily, and secondly APAC. APAC presents itself with multiple opportunities for the growth of the non-dairy whipping agents market, since the region has multiple developing countries that have acquired a taste for Western food, and are home to a fast-moving bakery industry.
The Dairy-free Movement is Positively Influencing the Non-dairy Whipping Agents Market
The increasing demand for non-dairy whipping agents from developing countries can be observed to stem from the dairy-free movement that is gaining traction in Western culture, where consumers are shifting from dairy-based products to dairy substitutes across all food types. Manufacturers have also jumped in on this opportunity, and have been offering multiple dairy-free whipping agent alternatives based on soybean proteins, sunflower proteins, and vegetable oils instead of milk fats to attain the much sought-after dairy-free label. On the other hand, for developing regions, the cost feasible nature of non-dairy whipping agents is the appealing factor. For mass production of confectionary or processed bakery products, the cost feasibility of non-dairy whipping agents is the primary parameter for manufacturers. Even so, whipped cream manufacturers are introducing non-dairy counterparts of whipped cream products in developing regions as well; a major example of which is Rich Gravis introducing its non-dairy whipped cream in the Indian market recently to conform the requirements of the modern Indian consumers. Multiple other market players have also introduced coconut-based and palm oil-based non-dairy whipping agents into the market.
Restraints for the non-dairy whipping agents market are present in particular types of non-dairy whipping agents, such as the one derived from palm oil. Worldwide, excessive deforestation due to increasing palm oil demand is leading to an environmental crisis, which is not sustainable in the long run. This can raise environmental concerns and can present itself as a probable restraint for the non-dairy whipping agents market.
Opportunities in the Global Non-dairy Whipping Agents Market
In terms of value, the global non-dairy whipping agents market is expected to exhibit an incremental opportunity of US$ 593.7 Mn by 2026 end over 2017. By form, the powder segment is anticipated to register a healthy CAGR of 4.1 % in the non-dairy whipping agent market. The European region, while being the largest consumer for non-dairy whipping agents, is also expected to experience slow growth over the forecast period. This slow growth in the demand for non-dairy whipping agents is evidently due to an already matured market. APAC and Latin America hold higher promise for growth in the non-dairy whipping agents market, owing to the presence of a thriving bakery industry and multiple rapidly developing countries
Factors Driving the Non-dairy Whipping Agents Market
Developing countries have exhibited a pattern of increase in GDP recently. In proportion, the food industry in developing countries is thriving. One of the most notable of them is the bakery industry, which is the largest consumer of non-dairy whipping agents. The bakery industry often utilizes non-dairy whipping cream to provide bakery products with a smooth, fluffy, and desirable texture that appeals to consumers. The increasing demand for aerated food products is also shaping up as one of the most influential factors for non-dairy whipping agents. Studies have shown that, the consumption of aerated food increases the satiation level of the food product. This can be easily obtained by the incorporation of a non-dairy whipping agent in a food product. This has been a beneficial parameter for business owners in the bakery industry and home cooks, as well as retail consumers, and has contributed to the increased sales of non-dairy whipping agents.
Analysis of the Global Non-dairy Whipping Agents Market by Region
Region wise, the market in Europe is projected to dominate the global non-dairy whipping agents market through to 2026. Following Europe, North America is one of the most prominent markets non-dairy whipping agents. This is majorly attributed to the U.S., as the country holds more than ¾ of the market for non-dairy whipping agents in North America. The Middle East and Africa holds the lowest share in the global non-dairy whipping agents market, and presents moderate opportunities for growth, since the prevalence of leisure food products and desserts is mainly present in Gulf countries and partly in South Africa, while the rest of the countries in MEA hold a minuscule share of the market in terms of volume and value in the non-dairy whipping agents market.
The non-dairy whipping agents market report gives data for the estimated year 2018, and the forecast year 2026, in terms of both, value (US$) and volume (MT). The report consists of the forecast factors that affect and influence the non-dairy whipping agents market, macroeconomic factors, and market outlook of the non-dairy whipping agents market. The report also includes the drivers, trends, and restraints of the non-dairy whipping agents market. The key aspect of the report includes a detailed competitive landscape analysis, value chain analysis, strategic overview, and key players in the non-dairy whipping agents market. This gives a comprehensive overview of the non-dairy whipping agents market to the report users. The report consists of a market structure, and gives a detailed comparison between multinational players, local players, and regional players in the non-dairy whipping agents market. The study provides the market attractiveness analysis by form, application, end use, and region.
The report analyses the market share of the non-dairy whipping agents on the basis of application, end use, form, and region. A section of the report highlights the region-wise demand for non-dairy whipping agents. It provides a market outlook for 2018–2026, and sets the forecast within the context of the non-dairy whipping agent’s ecosystem, including new technological developments as well as product offerings in the global non-dairy whipping agents market. This study discusses the key regional trends contributing to the growth of the non-dairy whipping agents market, globally, as well as analyses the degree at which the drivers are influencing the non-dairy whipping agents market, globally. Key regions assessed in this report include North America, Latin America, Europe, APAC, and the Middle East & Africa.
Research Steps for Market Crackdown
The data analysis for global non-dairy whipping agents market is estimated in terms of value and volume consumption. To arrive at the volume consumption of non-dairy whipping agents, production of bakery, confectionery, and desserts was identified and inclusion rate of non-dairy whipping agents was benchmarked through various secondary sources. In addition to, the per capita consumption is also tracked and further their import-export in the global market is tracked for understanding consumption in key countries. Furthermore, Persistence Market Research estimated volume data on consumption of non-dairy whipping agents for several countries by understanding the demand and supply of non-dairy whipping agents. It includes production, growth, volume and value sales, transition, pricing, per capita consumption of bakery products, confectionery, and desserts, consumer preference for dairy and non-dairy products verticals is scrutinized.
PMR then determined the volume consumption of non-dairy whipping agents across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Forecasting is done on an internal proprietary model using different macro-economic, industry-based demand driving factors impacting the market, and its forecast trends, by identifying and allocating a weighted score to the forecast factors that influence the demand for non-dairy whipping agents. These factors were the representative of an entire value chain of the non-dairy whipping agents market, as well as the macro-economic indicators such as production, food ingredients, inclusion of emulsifiers, texturizers, and other ingredients have been taken into consideration to arrive at the volume consumption of non-dairy whipping agents in respective countries.
The weighted average selling price for form of non-dairy whipping agents was considered to estimate the market size for top non-dairy whipping agent consuming countries. These prices were captured in their respective countries, and then converted into US$ to offer forecasts in one consistent currency standard.
Given the characteristics of the non-dairy whipping agents market, PMR triangulated the data based on the supply side, demand side, and dynamics of the global non-dairy whipping agents market. To develop the global non-dairy whipping agents market forecast, PMR analyzed various factors to understand their respective impact on the target market. However, quantifying the non-dairy whipping agents market across the abovementioned segments is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
It is imperative to note that, in an ever-fluctuating economy, we not only provide forecasts in terms of CAGR but also analyze on the basis of key parameters such as year-on-year (Y-o-Y) growth, to understand the predictability of the non-dairy whipping agents market and identify the right opportunities.
Another key feature of this report is the analysis of the global non-dairy whipping agents market and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global non-dairy whipping agents market.
To understand key segments in terms of their growth and performance in the global non-dairy whipping agents market, Persistence Market Research has also presented a market attractiveness index. The resulting index should help providers identify existing opportunities in the global non-dairy whipping agents market.
The report covers an in-depth analysis of all components of the value chain in the global non-dairy whipping agents market. In the final section of the report on the global non-dairy whipping agents market, a competitive landscape is included to provide a dashboard view of global non-dairy whipping agent manufacturers.
Many primary and secondary sources were conducted during the course of the study. Secondary sources include publications, annual reports_bk_01_01_2020 of companies, Factiva, and Hoovers. Detailed company profiles of non-dairy whipping agent producers are included in the scope of the study to evaluate their short-term and long-term strategies, recent developments in the non-dairy whipping agents market space, and product portfolio of non-dairy whipping agent manufacturers. Some of the key players analysed in the non-dairy whipping agents market are BASF SE, Wacker Chemie AG, Kerry Group PLC, Royal FrieslandCampina N.V. (Kievit), Molkerei MEGGLE Wasserburg GmbH & Co. KG, Rich Graviss Products Pvt. Ltd., Mokate Sp. Z.o.o., DP Supply B.V., Palsgaard A/S, Ingredion Incorporated, Corbion N.V., Lasenor Emul, S.L., Fine Organic Industries Limited, Ashland Global Holdings Inc., SKM Egg Products Company, FBC Industries, Inc., Gelita AG, and Conagra, among other non-dairy whipping agent manufacturers.