Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR

The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031.

The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growth in 2021. Looking ahead, the Asia-Pacific region is expected to exhibit the fastest compound annual growth rate (CAGR) until 2031.

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The factors such as the increasing bakery industry and HoReCa will drive the demand for the cream powder market. The rising vegan population coupled with the introduction of plant-based cream is expected to propel the demand for the cream powder market.

The fresh cream and milk are blended to create cream powder, which is then pasteurized and spray-dried to make a naturally rich cream powder. Another non-dairy option for people with lactose intolerance is coconut cream powder, which is created from the mature coconut's essence and has a moderate coconut flavor. In the food processing sector, cream powder is typically used to make a variety of items, including ice cream, chocolate, sweets, biscuits, baked goods, and others. When compared to ultra-heat-treated (UHT) milk and fresh cream, cream powder's distinctive qualities-good dispersibility, solubility, flavor, high-fat content, simplicity of handling, and storage-allow it to be used in a variety of applications.

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The report offers a detailed segmentation of the global cream powder market based on Source, Type, End User, Sales Channel, and Region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

By region, Europe held the major share in 2021, garnering more than one-third of the global cream powder market revenue and is projected to maintain the lion's share by 2031. However, the Asia-Pacific region would showcase the fastest CAGR of 7.1% throughout the forecast period. The other provinces studied through the report include North America and LAMEA.

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The key market players analyzed in the global cream powder market report include County Milk Products, Willpowder, LLC., Shenzhen Oceanpower Food Equipment Tech Co., Ltd., Commercial Creamery Company, Revala Ltd., Fonterra Co-operative Group Limited, Arion Dairy Products B.V., Shandong Tianjiao Biotechnology Co., Ltd., Food Source International, Inc., and Bluegrass Ingredients, Inc.

These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.

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