Press release
The Global Non-Dairy Toppings Market Is Expanding At A Healthy CAGR Of Close To 8% Through 2031
As consumers turn toward veganism and plant-based goods, the non-dairy toppings market is expected to retain a strong growth rate over the assessment period, 2018-2028. Consumer knowledge of the health benefits of non-dairy toppings is steadily rising, which is helping to drive sales of non-dairy toppings around the world.Non-dairy toppings, such as non-dairy whipping creams, non-dairy pouring creams, and non-dairy spooning creams, have grown in popularity among customers and manufacturers in recent years due to a number of advantages, including lower fat content, lower costs, and better stability. These tools are popular among bakers and caterers due to their ease of usage.
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Key Segments of Non-Dairy Toppings Market
Base Ingredient
• Soy Milk
• Vegetable Oil
• Almond Milk
• Coconut Milk
• Others
Form
• Liquid
• Powder
• Frozen
Application
• Bakery
• Confectionery
• Processed Fruits
• Frozen Desserts
• Beverage
• Others
Type
• Whipped Cream
• Pouring Cream
• Spooning
• Others
Distribution Channel
• Direct
• Indirect
o Modern Stores
o Specialty Food Stores
o E-Commerce
o Others
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Competitive Environment
Due to the presence of various regional competitors in the sector, the worldwide non-dairy toppings market is somewhat fragmented and competitive. To consolidate their market positions, major manufacturers are focusing on product releases to bolster their portfolios, as well as strategic collaborations and acquisitions.
Rich Products Corp., for example, announced the acquisition of a controlling interest in Rich Graviss Product Pvt. Ltd. in April 2020. The agreement is intended to help the corporation grow its foothold within India's high-potential market.
Conagra Brands has introduced two new non-dairy Reddi-wip whipped toppings: almond and coconut. Each serving of these goods contains only 10 calories and is devoid of artificial flavours and preservatives.
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What are the Prospects of Non-Dairy Topping Sales in the U.S?
North America is a key market for non-dairy topping products, and is projected to account for more than 20% of the global market share through the end of the forecast period. The United States holds the lead over Canada with a valuation of over US$ 182 million in 2020.
According to a study by the Cornell University, more than 10% of the overall American population suffers from lactose intolerance. This factor will also support the adoption of non-dairy toppings in the United States of America through the forecast period.
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