Global sour cream powder market is expected to accumulate a market value of USD 1.68 Billion in 2022 and is expected to register a CAGR of 2% by garnering a market value of USD 2.05 Billion during the 2022 to 2032 forecast period. Growth of the market can be attributed to the usage of sour cream powder in different recipes, especially in Europe and North America.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 1.65 Million |
| Expected Market Value (2022) | USD 1.68 Billion |
| Anticipated Forecast Value (2032) | USD 2.05 Billion |
| Projected Growth Rate (2022 to 2032) | 2% CAGR |
The sour cream powder is dehydrated sour cream with a fat content between 30 and 60%. The sour cream powder when mixed with an appropriate amount of water, formulates into sour cream. This can be used for various food applications.
The sour cream powder is produced on a commercial basis by spray drying the sour cream to form the powder. Sour cream is obtained by fermenting regular cream with bacterial culture to make the cream sour and also thicken the cream.
The lactic acid bacteria used for this process is either introduced deliberately or naturally. The fat content of the sour cream powder is high to give it a thicker consistency, but there is the availability of low-fat sour cream powder in the market for the health-conscious consumers.
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The benefit of the sour cream powder is that it can be stored for years, unlike the sour cream which has to be consumed within a short duration of time. Also after opening the packet of the sour cream powder, it can be stored in air-tight containers inside a refrigerator.
The sour cream powder is being used in various food processing industries such as dairy, bakery, snack seasonings, sauces and dips and many more. The easy storage and distribution have shifted the consumers from buying sour cream to sour cream powder. The sour cream powder is also being used in the food service industry. The lack of unusual taste or odor makes the sour cream powder more appealing especially for the food service industry to incorporate into dishes.
There have been recent developments in the sour cream powder, and various flavors are being launched into the market. There is ongoing research on manufacturing sour cream powder which is lactose-free for lactose intolerant and vegan consumers.
Production of the sour cream powder instead of sour cream is a good alternative for production cost optimization. The sour cream powder requires extra processing but the overall packaging, storage, and logistics prices are less than the production of the latter.
The sour cream powder being solid, the storage and logistics charges are very less and so is the import charges. Also, packaging of the sour cream powder can be done in an innovative way, which can improve the product conservation and can increase the market value of the product.
The increasing lactose intolerant population in different regions across the globe is derailing the progress of the sour cream powder market. Although manufacturers of sour cream powders are launching vegan powders, the commercialization of the same is becoming a hurdle for the progress of the sour cream powder market.
Mexico and the USA are two countries largely contributing towards the growth of the sour cream powder market in North America. People in North America prefer using sour cream powder for preparing condiments or to form a dipping sauce. Moreover, the strong presence of sour cream powder manufacturers is bolstering the demand for the same in the region.
Thus, North America is expected to register a CAGR of 3% for the sour cream powder market in the assessment period 2022 to 2032.
Europe is the hotspot for sour cream powder market. This is owing to the large availability of milk and cream in the region. Countries like Germany, UK and Russia have shown a growing inclination towards investing in sour cream powder. Moreover, sour cream powder has become an essential ingredient in most recipes in the country. the launch of vegan sour cream powders along with the easy availability of the same is positively influencing the market for sour cream powder.
Thus, owing to the aforementioned factors, Europe is expected to register a CAGR of 5% for sour cream powder in the forecast period 2022 to 2032.
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Some of the leading players operating in the global sour cream powder market include Commercial Creamery Company, The Food Source International Inc., Bluegrass Dairy and Food Inc., Dr. Otto SuwelackNachf. GmbH & Co., Tsukuba Dairy Products Co., Ltd, Varesco Group, Barry Family Farm, Vermont Creamery, Rogers and Company Foods, Thrive Life LLC, Walton Feed Inc. Attributed to the presence of such a high number of participants, the market is highly competitive.
| Report Attribute | Details |
|---|---|
| Market Value in 2022 | USD 1.68 Billion |
| Market Value in 2032 | USD 2.05 Billion |
| Growth Rate | CAGR of 2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, End Use, Packaging, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; MEA |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Commercial Creamery Company; The Food Source International Inc.; Bluegrass Dairy and Food Inc.; Dr. Otto SuwelackNachf. GmbH & Co.; Tsukuba Dairy Products Co., Ltd; Varesco Group; Barry Family Farm; Rogers and Company Foods; Thrive Life LLC; Walton Feed Inc. |
| Customization | Available Upon Request |
FMI projects the global sour cream powder market to expand at a 2% value CAGR by 2032
Europe is expected to be the most opportunistic sour cream powder market, expanding at a 5% CAGR
Commercial Creamery Company, The Food Source International Inc., Bluegrass Dairy and Food Inc., Dr. Otto SuwelackNachf. GmbH & Co., Tsukuba Dairy Products Co., Ltd, Varesco Group, Vermont Creamery, Barry Family Farm, Rogers and Company Foods, Thrive Life LLC, Walton Feed Incare some prominent sour cream powder manufacturers.
| Market Value for 2024 | USD 1.24 billion |
|---|---|
| Market Value for 2034 | USD 2.15 billion |
| Forecast CAGR for 2024 to 2034 | 5.60% |
| Market Size (2023) | USD 474.7 million |
|---|---|
| Market Revenue Forecast (2033) | USD 741.7 million |
| Market CAGR (2023 to 2033) | 4.6% |
| Market Value (2023) | USD 1,011.0 million |
|---|---|
| Market Expected Value (2033) | USD 1,745.8 million |
| Market Projected CAGR (2023 to 2033) | 5.6% |
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