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Whipping Cream Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global whipping cream products market was valued at USD 9.7 billion in 2022 and is expected to expand at a CAGR of 4.1% from 2023 to 2030. Growing demand for whipping cream products, especially in developing countries, is driven by rising disposable income and expanding middle-class population. In addition, product innovations and the increasing demand for desserts such as cakes and pastries are expected to drive the demand for whipping cream products during the forecast period.
The rising trend of cafes, bakeries, and confectioneries is expected to propel the market growth. The availability of a variety of whipping cream products with different flavors such as vanilla, strawberry, and chocolate is gaining popularity and driving the market growth. Furthermore, the introduction of whipped cream aerosols is expected to fuel the demand for whipping cream products, as they are convenient to use and reduce the time for preparation.
The increasing preference for organic and natural whipping cream products is driving the market growth. The demand for organic and natural products is driven by the growing health consciousness among customers. Manufacturers are introducing organic and natural products to meet the rising demand. For instance, in January 2021, Pacific Foods announced the launch of organic and natural whipping cream products to meet the rising demand for organic and natural products.
The rising number of foodservice channels such as restaurants and hotels is expected to boost the market growth. Whipping cream products are widely used in restaurants and hotels to enhance the flavor and texture of food items. Furthermore, the rising number of foodservice channels is expected to create a significant opportunity for the market in the coming years.
The increasing demand for whipping cream products in the hospitality industry is expected to propel the market growth. The hospitality industry is widely using whipping cream products in different food items to enhance their flavor and texture. Additionally, the rising disposable income of consumers is expected to drive the demand for whipping cream products in the hospitality industry.
Product Insights
The whipped cream segment held the largest market share of around 40% in 2019. This is primarily due to the increasing popularity of whipped cream in desserts and bakery items, such as cakes, pastries, and pies. Furthermore, the growing demand for frozen desserts, such as ice creams, cones, and others, is propelling the growth of the segment. According to a report published by Mordor Intelligence in 2019, the global ice cream market was estimated to be valued at USD 66.8 billion in 2018, and is expected to reach USD 92.4 billion by 2024, at a CAGR of 6.05%.
The spray cream segment is anticipated to expand at the fastest CAGR of 8.1% over the forecast period. Growing consumption of spray cream, due to its ease of use and convenience, is driving the market revenue. Moreover, the increasing demand for spray cream in various food applications, such as desserts, pastries, cakes, and others, is augmenting the demand for spray cream. According to an article published by the National Retail Federation (NRF) in May 2020, the demand for ready-to-eat desserts and frozen food products has increased significantly due to the COVID-19 pandemic.
Distribution Channel Insights
The supermarkets and hypermarkets segment held the largest share of the global Whipping Cream Products market in 2022. This is attributed to the availability of a wide range of products in supermarkets and hypermarkets. In addition, the presence of large supermarkets and hypermarkets with a large product portfolio and competitive prices is driving the segment growth. Moreover, the increasing preference for buying Whipping Cream Products from supermarkets and hypermarkets due to the availability of attractive discounts and offers is further contributing to the segment growth.
The specialty stores segment is expected to expand at the highest CAGR during the forecast period. The growth of the segment is attributed to the rising trend of buying Whipping Cream Products from specialty stores, as they offer a wide variety of products and provide more personalized services than supermarkets and hypermarkets. In addition, customers are more likely to buy Whipping Cream Products from specialty stores due to the availability of premium and high-end products. Moreover, the increasing trend of online shopping is also driving the growth of the segment.
Type Insights
The conventional segment held the largest revenue share of 79.5% in the year 2022. The increasing availability of dairy-based products in the market is driving the growth of the conventional segment. The easy availability of traditional dairy products such as whipping cream, butter, and cheese in supermarkets and hypermarkets is driving the growth of the conventional segment. For instance, manufacturers such as Nestle, Arla Foods, and Amul are offering a wide range of products under the conventional segment.
The organic segment is anticipated to expand at the highest CAGR of 10.7% over the forecast period. The rising demand for organic and natural products across the globe is driving the segment’s growth. The rising awareness about health and wellness is driving the demand for organic whipping cream products. Furthermore, the increasing disposable income of consumers in developing countries is also driving the demand for organic products. For instance, in January 2022, Nestle launched an organic whipping cream under its brand ‘Nestle Organic’ in the United Kingdom.
Regional Insights
Europe led the global market in terms of revenue contribution in 2021 and is expected to dominate the market throughout the forecast period. This is mainly due to the increased demand for whipping cream in countries such as France, Germany, and the U.K., along with its extensive use in the bakery industry. Moreover, the presence of several manufacturers in the region is expected to further drive the market growth.
The Asia Pacific region is expected to witness the fastest growth during the forecast period. This is mainly attributed to the increasing demand for whipping cream in countries such as China, India, and Japan, along with its extensive use in the food industry. Moreover, the presence of several manufacturers in the region is expected to further drive the market growth. For instance, in March 2022, Amul India launched its new product, Amul Whipping Cream, to cater to the increasing demand for bakery products in the region.
Financial Projections
In this part of the whipping cream products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a whipping cream products business comes from the sales of the products, either at retail stores or directly to consumers. You should also consider other sources of income such as sponsorship, advertising, and partnerships.
Projecting Expenses
In this section, all the regular expenses related to keeping the whipping cream products business running will be described. The list of operating expenses includes materials and supplies, wages, advertising, insurance policies, utilities, rent, and others.
Key companies & market share insights
Some of the key companies operating in the whipping cream market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In May 2022, Nestle SA launched a new range of low-fat whipping cream products.
– In July 2022, Amul launched its range of whipping cream products with no added preservatives.
– In August 2022, Rich Products Corporation launched a range of whipping cream products with no added sugar.
Some of the prominent players in the whipping cream market include:
– Nestle SA
– Amul
– Rich Products Corporation
– Dean Foods
– General Mills
– Unilever
– Kraft Heinz Company
– Land O’Lakes, Inc.
– Dairy Farmers of America
– Dairy Crest Group
Global Whipping Cream Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global [whipping cream] products market based on product type, distribution channel, application, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Heavy Whipping Cream
– Light Whipping Cream
– Non-Dairy Creamers
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Convenience Stores
– Online
– Others
3. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Bakery
– Dairy
– Frozen Desserts
– Others
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Drivers of the Whipping Cream Products Market?
[A]: The major drivers of the whipping cream products market are increasing consumer demand for convenience, increasing health consciousness, and the increasing popularity of global cuisines. The rising awareness of global cuisines and the availability of whipping cream products in different flavors are expected to drive the market growth. Additionally, the increasing demand for vegan whipping cream products is expected to offer opportunities for market growth.
[Q]: What are the Key Trends in the Whipping Cream Products Market?
[A]: The key trends observed in the whipping cream products market are increasing demand for organic and natural products, growing demand for plant-based whipping cream products, and increasing focus on product innovation and packaging. Manufacturers are innovating and launching new products to cater to the changing preferences of consumers.
[Q]: Who are the Leading Players in the Whipping Cream Products Market?
[A]: Some of the leading players in the whipping cream products market are General Mills, Inc., Arla Foods, Inc., Nestle S.A., Unilever, Danone S.A., Saputo, Inc., Amul, Dairy Farmers of America, Inc., and Land O’Lakes, Inc.
[Q]: What is the Potential of Emerging Markets?
[A]: The emerging markets such as India and China are expected to offer significant potential for the growth of the whipping cream products market. The increasing disposable incomes and changing food habits in these countries are expected to boost the market growth.
[Q]: What is the Outlook for the Whipping Cream Products Market?
[A]: The market for whipping cream products is expected to witness significant growth during the forecast period, owing to the increasing demand for convenience, health consciousness, and global cuisines. Growing awareness of global cuisines and the availability of whipping cream products in different flavors are expected to drive the market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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