Cream Powder Market Overview
Cream Powder Market Size was estimated at 14.76 (USD Billion) in 2022. The Cream Powder Market Industry is expected to grow from 15.32(USD Billion) in 2023 to 21.4 (USD Billion) by 2032. The Cream Powder Market CAGR (growth rate) is expected to be around 3.79% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Cream Powder Market Trends Highlighted
The Cream Powder Market has been experiencing significant advances due to the growing need for convenience food products, an increase in disposable income, and urbanization. However, the increase in health awareness among consumers has spurred the acceptance of cream powder as a healthier option than more traditional dairy products. In addition to that, the growth of the food and beverage service industry is creating additional market avenues for cream powder producers.
The recent developments in the cream powder industry include the rising demand for plant-based cream powder, especially due to the increasing number of lacto-vegetarians and the ever-rising lactose-intolerant population. With the help of new technologies, cream powders with better taste, texture, and solubility have been produced, which has increased their use in more different dishes. Moreover, there are shifts towards more sustainable packaging solutions. This means that many companies are moving towards more green & recyclable materials for packaging.
Cream Powder Market Drivers
Rising Demand for Convenience Foods
One of the top drivers of the Cream Powder Market Industry is the increasing popularity of convenience foods. Cream powder is used in different types of meals, including soups, sauces, desserts, and beverages. Being able to reuse it within several years, cream powder is easily applicable, which makes it a convenient choice for many people who have no time to spend on long-time food preparation. Moreover, the increased availability of cream powder in various packaging, such as single-serve sachets and prespecified quantities, makes the choice even simpler.
Moreover, the industry's audience continuously grows. “The segment was driven by an increasing number of working women, rising disposable incomes of people, and changing lifestyles of the people in developing countries.” With the increasing usage of those products that attract the population due to their convenience, the industry is expected to keep driving.
Increasing Health Consciousness
The growing health consciousness among consumers is another key driver of the Cream Powder Market Industry. Cream powder is perceived as a healthier alternative to traditional dairy products, as it contains less fat and calories. It is also a good source of calcium, protein, and vitamins. The increasing prevalence of lactose intolerance and milk allergies is also driving the demand for cream powder, as it is a lactose-free and hypoallergenic alternative to dairy products.
The growing popularity of plant-based diets is also contributing to the demand for cream powder, as it can be used as a vegan or vegetarian alternative to dairy cream. The increasing availability of cream powder in a variety of flavors and formats is also meeting the diverse needs of health-conscious consumers, which is further driving the growth of the Cream Powder Market Industry.
Expansion of the Food Service Industry
The expansion of the Food Service Industry is the next big driver of the Cream Powder Market Industry. Cream powder is utilized in several food service industry outlets to make soups, sauces, desserts, and beverages. Therefore, the rising number of restaurants, cafes, and other places that serve food is driving the demand for cream powder worldwide. As the popularity and demand for delivering and takeout services are rising rapidly, the need for cream powder is also increasing as it is a convenient and shelf-stable ingredient that complements a wide range of food items.
This driver factor is also responsible for the continued growth of the Cream Powder Market Industry.
Cream Powder Market Segment Insights
Cream Powder Market Product Type Insights
Kinds of Products The Cream Powder Market has two types of products in it. Wet cream powders and dry cream powders. Wet cream powders are produced by spray-drying a cream emulsion. Dry cream powders are produced by freeze-drying a cream emulsion. Wet cream powders are more frequently used in the food and beverage market because they are more easily dispersed and stirred in liquids. Dry cream powders are more frequently used in the pharmaceutical market because they are more stable and have a higher shelf life. In 2023, the market size for wet cream powders was the largest among the two types of cream powders present.
The revenue that the Wet cream powders segment generated was 10.2 billion dollars in 2023. The CAGR at which the market size for dry cream powders will increase is faster than that for wet cream powders. The CAGR for the dry cream powders is 4.2%, and the revenue that will be generated by 2032 is 5.6 billion. The increasing demand for cream powders in the pharmaceutical market is driving the growth of this product. Key Players The key players in the Cream Powder Market are as follows Fonterra Lactalis Nestlé Unilever Arla Foods.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Cream Powder Market Application Insights
The Cream Powder Market is divided by Application into Personal Care, Food and Beverage, Cosmetics, Pharmaceuticals, and Industrial. The Personal Care segment is the largest and is expected to grow at a CAGR of 3.8% from 2024 to 2032. The Food and Beverage segment is the second largest and is expected to grow at a CAGR of 3.6% during the same period. The Cosmetics segment is the third largest and is expected to grow at a CAGR of 3.5% from 2024 to 2032. The Pharmaceuticals and Industrial segments are the smallest and are expected to grow at a CAGR of 3.2% and 3.1%, respectively, from 2024 to 2032.
The growth of the Cream Powder Market is mainly spurred by the rising appeal for natural and organic personal care products, the surging trend for cosmetics, and the escalating preference for convenience foods.
Cream Powder Market Form Insights
Loose Powders and Compact Powders are two prominent forms of cream powders. Loose Powders are finely milled powders that provide a lightweight, natural finish. They are ideal for setting makeup or for touch-ups throughout the day. Compact Powders, on the other hand, are pressed powders that offer higher coverage and a more matte finish. The Form segment is a key factor driving the growth of the market. Loose Powders held the largest market share in 2023, accounting for over 60% of the revenue. Compact Powders are expected to witness a higher growth rate during the forecast period due to their increasing popularity among consumers who prefer a more matte and long-lasting finish.
Cream Powder Market Distribution Channel Insights
The distribution channel segment plays a crucial role in shaping the Cream Powder Market landscape. The market is segmented into online and offline channels, each exhibiting distinct characteristics and growth patterns. Online sales channels have witnessed a surge in popularity in recent years, registering a significant market share. The convenience, wide product selection, and competitive pricing offered by e-commerce platforms have attracted a growing consumer base. In 2024, the Cream Powder Market through online channels is projected to reach a valuation of USD 5.23 billion, expanding at a CAGR of 4.5%.
Offline distribution channels, including supermarkets, hypermarkets, and pharmacies, continue to hold a dominant position in the Cream Powder Market. The physical presence of these channels allows consumers to examine products, receive personalized assistance, and make informed purchases. In 2024, the offline segment is estimated to account for a market value of USD 7.86 billion, exhibiting a stable growth rate.
Cream Powder Market Regional Insights
The regional segmentation of the Cream Powder Market offers valuable insights into the market's growth dynamics and opportunities. North America holds a significant market share, driven by high consumer demand for processed and packaged food products. Europe follows closely, with a large and mature market for cream powder in various applications such as bakery and confectionery products. Asia Pacific is expected to witness substantial growth in the coming years, owing to rising disposable income and increasing urbanization. South America and the Middle East and Africa (MEA) are emerging markets with growing demand for cream powder in both household and industrial applications.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Cream Powder Market Key Players And Competitive Insights
Major players in the Cream Powder Market industry are constantly investing in research and development to improve their product offerings and gain a competitive advantage. Leading Cream Powder Market players are focusing on expanding their distribution channels and increasing their presence in emerging markets. Cream Powder Market development is being driven by the growing demand for convenience foods and the rising popularity of plant-based diets. The Cream Powder Market Competitive Landscape is expected to remain competitive in the coming years, with key players focusing on product innovation, strategic partnerships, and geographical expansion.
Arla Foods is a leading company in the Cream Powder Market. The company offers a wide range of cream powder products, including skimmed milk powder, whole milk powder, and buttermilk powder. Arla Foods has a strong presence and its products are sold in over 100 countries. The company is committed to sustainability and is working to reduce its environmental footprint. Arla Foods is investing in new technologies to improve the efficiency of its production processes and reduce waste.
Danone is a leading competitor company in the Cream Powder Market. The company offers a wide range of dairy products, including cream powder, infant formula, and cheese. Danone has a strong presence and its products are sold in over 120 countries. The company is committed to innovation and is constantly developing new products to meet the needs of its customers. Danone is also focusing on expanding its distribution channels and increasing its presence in emerging markets.
Key Companies in the Cream Powder Market Include
FrieslandCampina
Danone
Arla Foods
Fonterra
Archer Daniels Midland Company
Meiji
Morigana
Unilever
Cargill
Wilmar International
Bunge
Lactalis Group
Amul
Nestlé
Louis Dreyfus Company
Cream Powder Market Industry Developments
The cream powder market is anticipated to grow steadily over the forecast period, driven by increasing demand for convenience foods and rising disposable income. The market is witnessing the emergence of new flavors and formulations, catering to evolving consumer preferences. Key industry players are focusing on product innovation and strategic partnerships to gain a competitive edge. Growing health consciousness is expected to propel the demand for low-fat and sugar-free cream powders. Moreover, the expansion of the foodservice industry, particularly in developing regions, is likely to contribute to market growth. Recent industry developments include the launch of plant-based cream powders, targeting the growing vegan and flexitarian population.
Cream Powder Market Segmentation Insights
Cream Powder Market Product Type Outlook
Wet Cream Powders
Dry Cream Powders
Cream Powder Market Application Outlook
Personal Care
Food and Beverage
Cosmetics
Pharmaceuticals
Industrial
Cream Powder Market Form Outlook
Loose Powders
Compact Powders
Cream Powder Market Distribution Channel Outlook
Online
Offline (Supermarkets, Hypermarkets, Pharmacies)
Cream Powder Market Regional Outlook
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 14.76(USD Billion) |
| Market Size 2023 | 15.32(USD Billion) |
| Market Size 2032 | 21.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.79% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | FrieslandCampina, Danone, Arla Foods, Fonterra, Archer Daniels Midland Company, Meiji, Morigana, Unilever, Cargill, Wilmar International, Bunge, Lactalis Group, Amul, Nestlé, Louis Dreyfus Company |
| Segments Covered | Product Type, Application, Form, Distribution Channel, Regional |
| Key Market Opportunities | Plant-based cream powders Dairy alternatives Sports nutrition Coffee and beverage applications Infant formula |
| Key Market Dynamics | Rising demand for technological advancements, health-conscious consumers, increasing disposable income, e-commerce growth |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Cream Powder Market is expected to be valued at 15.32 billion USD in 2023.
The Cream Powder Market is expected to be valued at 21.4 billion USD in 2032.
The Cream Powder Market is expected to grow at a CAGR of 3.79% from 2024 to 2032.
The North America region is expected to hold the largest share of the Cream Powder Market in 2023.
The cosmetics segment is expected to hold the largest share of the Cream Powder Market in 2023.
Some of the key competitors in the Cream Powder Market include L'Oréal, Estée Lauder, Procter & Gamble, Shiseido, and Unilever.
Some of the key trends driving the growth of the Cream Powder Market include the increasing popularity of natural and organic cosmetics, the growing demand for long-lasting makeup products, and the rising disposable income in emerging markets.
Some of the challenges facing the Cream Powder Market include the intense competition, the regulatory hurdles, and the fluctuating prices of raw materials.
Technology is expected to have a significant impact on the Cream Powder Market, with the emergence of new product innovations, the development of more efficient manufacturing processes, and the adoption of digital marketing channels.
Some of the opportunities for growth in the Cream Powder Market include the expansion into new markets, the development of new products, and the adoption of sustainable practices.
Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
