Sour Cream Market Outlook
Market Research Future (MRFR) asserts that the global sour cream market is slated to register a healthy CAGR of 8.9 % during the appraisal period (2021-2028) owing to the inclination toward dairy products. Sour cream is referred to as a dairy-based product that is made by the fermentation of pasteurized cream which is rich in fat content. Fermentation of the pasteurized cream comprises souring by the lactic acid-producing bacteria which produces a substance of thick consistency, termed sour milk. It is extensively used in topping and food condiments and is added to several food preparations.
Market Potential and Pitfalls
The global sour cream market is growing at breakneck speed throughout the appraisal period owing to the augmenting demand for dairy products. Sour cream has become a staple item in most kitchens due to its extensive usage in salad dressing, bakeries, and dips. Such factors are predicted to trigger the demand for sour cream across the globe. With manufacturers constantly focusing on producing quality products, besides strong marketing approaches, the market is estimated to flourish across the globe. As the rising demand for fat-free sour cream is gaining acceptance, especially among health-conscious consumers, it is extensively incorporated as a substitute for Greek yogurt, cheese, and other items. This is further anticipated to stimulate market growth throughout the appraisal period.
Sour cream is available in a variety of forms in order to cater to the demands of the consumers. For instance, the introduction of sour cream for consumers with lactose intolerance is predicted to boost the market across the world. Moreover, new packaging formats and innovative flavors are further contributing to the growth of the market.
On the contrary, strict government mandates imposed on sour cream in several economies are likely to restrain its growth in the coming years. Moreover, lactose-free costs are high and have unpleasant taste nodes. Such factors are considered to impede market growth in the coming years.
Competitive Dashboard Analysis
The prominent players operating the global sour cream market comprise Saputo Inc. (Canada), Daisy Brand LLC (U.S.), Organic Valley (U.S.), Uelzena Ingredients (Germany), Kraft Heinz Company (U.S.), Laiterie Chalifoux Inc. (Canada), Dean Foods (U.S.), Meggle (Bosnia and Herzegovina), HP Hood LLC (U.S.), and Cabot Creamery Cooperative Inc. (U.S.).
Global Sour Cream Market: Segmental Analysis
The global sour cream market has been segmented on the basis of packaging type, category, and distribution channel.
By mode of category, the global sour cream market has been segmented into conventional and organic. Among these, the organic segment is anticipated to occupy the maximum share in the global market due to natural methods of cream formation. They are gaining prominence over the past few years as they are healthier than the conventional ones due to the presence of omega-three fatty acids, antioxidants, CLA, and vitamin content.
By mode of packaging type, the global ice cream market has been segmented into tubs/cups, bottles, squeezers, and others. Among these, the bottles segment is likely to generate maximum revenue in the coming years as they are easy to carry and are also cost-effective.
By mode of distribution channel, the global sour cream market has been segmented into store-based and non-store-based. Among these, the store-based distribution channel is likely to occupy a major share due to the strong vendor networks of the manufacturers. On the other hand, a non-store-based distribution channel is likely to have a significant contribution in the coming years due to the strong developments by the e-commerce platforms.
Regional Insights
Geographically, the sour cream market span across regions namely, Europe, North America, Asia-Pacific, and Rest-of-the-World (RoW).
Considering the global scenario, the European region is considered to occupy the maximum share in the global market. The growth is credited to the inclination towards baked and dairy products. Sour cream has originated in Eastern Europe which further encourages the consumption of sour cream in this region.
The North American region is estimated to contribute a decent share due to the high dependency on dairy products in the preparation of food and baked items. The sour cream substitute market in Canada is a healthy economy in this region due to the preference of the consumers for low-calorie food intake.
The Asia Pacific region is likely to expand at the fastest growth rate and is likely to retain its growth in the coming years. The growth is credited to the rising population inclined towards consuming healthy food items. With key players strengthening the distribution system, which is contributing to an increased consumer base, the market is growing at a steady pace.
Industry Market News
February 21, 2019: Known for flax milk-based milk and yogurts, Good Karma has recently launched a plant-based sour cream, onion dips, and French dips to defend the plant-milk labels.
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