According to a new report published by Allied Market Research, titled, “Cream Powder Market," The cream powder market was valued at $4.8 billion in 2021, and is estimated to reach $8.9 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

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.

The COVID-19 pandemic resulted in a negative effect on the cream powder market size as the bakery, and HoReCa industries are being shut down. For instance, according to the report of the U.S. Department of Agricultural Services, the COVID-19 pandemic has negatively affected the Chinese bakery sector via disruptions to production and distribution. Both packaged and unpackaged baked goods have suffered, though the unpackaged segment has been hit harder due to shorter shelf life, consumers’ limited access to retail outlets, and increased concerns about food hygiene during the pandemic. Cake sales have been hit especially hard by the disappearance of large celebrations during quarantine and social distancing measures.

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The cream powder market is analyzed based on source, type, end-user, sales channel, and region. As per the source, the market is segmented into dairy-based and plant-based. According to type, the market is classified into sweet cream powder and sour cream powder. By end-user, the market is categorized into the bakery industry, dairy industry, and others. Depending on the sales channel, the market is segmented into B2C and B2B sales channels.The sweet cream powder and sour cream powder segments are further bifurcated into less than 30% fat, 30% to 60% fat, and above 60% fat. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of source, the cream powder market is further segmented into dairy-based and plant-based. Powders constitute a major cream powder market share. The dairy-based cream powder market dominated the market in 2021 and is expected to maintain its dominance during the forecast period owing to its health advantages and lower price compared to the other option. The growing vegan and lactose-intolerant population is the reason owing to which the plant-based segment is expected to grow at a higher CAGR. For instance, according to the report of the National Library of Medicine, U.S. the number of consumers who are reducing their intake of food from animal origin is increasing globally due to many reasons and this involves a growing market of plant-based products to its usage in the cure of diseases and, according to an article by the National Health Portal of India, 60% of the world's population is unable to process lactose in animal milk. Such a rising vegan population and lactose intolerant people are expected to boost the cream powder market growth for the segment.

Key findings of the study

On the basis of source, the dairy-based cream powder segment dominated the cream powder industry in 2021 and is expected to retain its dominance throughout the forecast period.

On the basis of type, the sweet cream powder segment dominated the cream powder industry in 2021 and is expected to retain its dominance during the forecast period.

By end-user, the bakery segment led the global cream powder market demand in 2021 and is expected to retain its dominance throughout the forecast period.

On the basis of sales channels, the B2B segment dominated the global market in 2021 and is expected to retain its dominance throughout the forecast period.

Region-wise, Europe accounted for the highest cream powder market share in 2021 and is expected to grow at a CAGR of 5.9%.