The coffee culture is increasing across South Asia and East Asia, which are traditionally tea-drinking regions. This has increased the demand for instant mixes that offer a gourmet coffee taste and appearance, even in a sachet. Thus, manufacturers are trying their best to provide a luxury, out-of-the-home experience through their instant coffee mixes that are manufactured with the help of plant-based creamers. Instant-mix has become a popular product in the global market, and manufacturers are trying to leverage this to increase their consumer base. Various processed food manufacturers also use plant-based creamers as an ingredient in their final products, which are very popular in the Asia and MEA regions that have seen a rise in disposable incomes in recent years. The plant-based creamer market is expected to experience very high growth in these regions in the coming years. The market in Europe will also have a major share, as it is already a major producer of plant-based creamers.
The global plant-based creamer market has witnessed substantial growth over the past few years, and this growth is anticipated to continue in the foreseeable future. The market is estimated to rise at a moderate growth rate of 4% during the forecast period 2020-2030.
Strong worldwide distresses about the coronavirus pandemic has largely but negatively influenced the global operations of the food & beverage industry, and the mindset of consumers. The food & beverage products manufacturing and supply chain has been widely disrupted. Additionally, the foodservice industry, including the HoReCa sector, has been largely affected. Many countries have declared lockdowns to counter the spread of COVID-19, which has resulted in foodservice outlets, hotels, restaurants, and food retail chains being completely closed. As such, the demand for plant-based creamers has reduced across the globe. The plant-based creamer market will only see a recovery from this impact in the first and second quarters of 2021
Key Takeaways from Plant-based Creamer Market Study
- Increasing inclination of consumers toward a plant-based diet, along with the popularity of veganism in many countries, is boosting the demand for plant-based creamers in the global market.
- Organic products are free from chemicals, and thus, they are considered as ideal products for health-conscious consumers. This increasing demand for organic plant-based creamer products is also propelling demand.
- Clean label, gluten-free, non-GMO plant-based creamers are gaining popularity among consumers across the globe.
- North America and Europe collectively account for more than 60% share in the global plant-based creamer market, owing to the increasing vegan and vegetarian population, along with increasingly health-conscious consumers.
“Plant-based creamers are mainly used in processed food, foodservice, housed applications, and beverage preparations. Key players in the global plant-based creamer market could increase their profits by positioning this as a premium and healthy food ingredient for premium consumers. The COVID-19 pandemic has already impacted the premium products market due to supply chain and production disruptions. Thus, manufacturers need to restructure their business strategies to increase their revenue,” says a PMR analyst.
Global Plant-based Creamer Market: Competitive Landscape
Manufacturers in the global plant-based creamer industry are focused on providing custom cream products to the food manufacturing, foodservice, and household sectors. Also, manufacturers are creating appealing, attractive tastes and textures for their plant-based creamer products, and are focusing on providing real and delicious taste. Thus, the popularity of plant-based creamers is increasing among consumers across the globe.
Explore More Valuable Insights on Plant-based Creamer Market
Persistence Market Research, in its new report, offers an impartial analysis of the global plant-based creamer market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the plant-based creamer market based on form (powder, liquid), nature (organic, conventional), type, (regular, light, fat-free), source (soy milk, almond milk, coconut milk, vegetable oil, others), end use (food & beverage industry, foodservice industry, retail/household), and distribution channel (business to business, business to consumer), across seven regions.
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