Cream Powder Market to Register $8.9 Billion by 2031 : Allied Market Research

According to the report published by Allied Market Research, the global cream powder market 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 report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Covid-19 Scenario:

• The cream powder industry experienced a downturn due to the COVID-19 pandemic’s impact on the bakery and HoReCa (Hotel/Restaurant/Café) sectors. The U.S. Department of Agricultural Services’ report highlighted the negative effects of the pandemic on the Chinese bakery industry, including disruptions to production and distribution, affecting the sales of both packaged and unpackaged baked goods. However, the unpackaged market was hit particularly hard due to increased concerns about food safety, shorter shelf life, and limited access to retail establishments.
• As the world is gradually returning to normal, the demand for cream powder is on the rise, leading to a fast recovery of the market.

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 source, the dairy-based segment contributed to more than four-fifths of the global cream powder market revenue and is projected to maintain its dominance by 2031. On the other hand, the plant-based segment would display the fastest CAGR of 7.7% throughout the forecast period.

By type, the sweet cream powder segment held the largest share in 2021, garnering around two-thirds of the global cream powder market revenue and is expected to dominate by 2031. The sour cream powder segment would cite the fastest CAGR of 6.9% throughout the forecast period.

By end user, the bakery industry segment accounted for the highest share in 2021, generating more than half of the global cream powder market revenue and is projected to rule the roost by 2031. However, the others segment would showcase the fastest CAGR of 7.2% during the forecast period. Also, the dairy industry segment is analyzed in the report.

By sales channel, the B2B segment contributed to more than two-thirds of the global cream powder market revenue and is anticipated to retain its dominance by 2031. The B2C segment, on the other hand, would portray the fastest CAGR of 6.7% throughout the forecast period.

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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.

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.

Source From:- https://www.globenewswire.com/en/news-release/2023/03/15/2627837/0/en/Cream-Powder-Market-to-Register-8-9-Billion-by-2031-Allied-Market-Research.html

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.