The global imitation whipped cream market size is set to grow at a considerable pace owing to the growing availability of vegan whipped cream offerings, shares Fortune Business Insights in its report, titled “Imitation Whipped Cream Market Size, Share & Industry Analysis, By Fat Content (Fat Content < 23%, Fat Content > 23%), By End-user (Bakery Sector [Cakes & Pastries, Doughnuts, Others] Dairy Sector, Foodservice, Households) and Regional Forecast, 2023-2030”. The adoption of veganism is a game-changing trend currently experienced by the food & beverage industry. In the UK, for instance, the Vegan Society estimates that the number of vegans nearly quadrupled between 2014 and 2023. As a result, several companies and retailers in the food industry are now innovating differentiated products, especially desserts, to cater to the expanding vegan population. For example, the popular American grocery store chain, Trader Joe’s, recently launched non-dairy whipped cream topping made from real coconut cream. Similarly, the German food company, Tofutown, has gained prominence with its soy-free Rice Whip and Soyatoo, popular vegan whipped cream options. The widening availability of these products in stores worldwide will augment the growth of this market in the near future.
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Highlights of the Report:
- Thorough evaluation of the market drivers, trends, and restraints;
- Exhaustive examination of the top market players and their strategies;
- In-depth study of the market segments; and
- Granular analysis of the regional dynamics and opportunities in the market.
Rising Incidence of Chronic Diseases to Aid Market Growth
One of the leading factors propelling the imitation whipped cream market growth is the increasing prevalence of chronic diseases such as diabetes. The International Diabetes Federation estimates that there are around 463 million diabetics in the world presently and this number will swell to 700 million by 2045. Overconsumption of fatty foods such as cakes that are laden with artificial sugars has been one of the most prominent reasons for the growing incidence of diabetes worldwide. As a result, consumers are actively searching for alternatives to these types of foods and imitation whipped creams have speedily emerged as a viable solution. These creams are beaten till become light and fluffy and innovations in them have led to the creation of creams that are non-dairy, being made from coconut or almond milk and having natural nutrients such as vegetable fats. A 2017 study published by the National Institutes of Health revealed that high-fat dairy intake lowered the risk of type 2 diabetes by 63%. Such evidence along with the proven benefits of natural ingredients will together aid the growth of this market in the forthcoming years.
Increasing Prevalence of Lactose Intolerance to Feed Market Growth in North America
North America is slated to dominate the imitation whipped cream market share in the foreseeable future owing to the rising prevalence of lactose intolerance in the region, which is stoking the demand for non-dairy food and beverage items. Further, spreading awareness about the health benefits of low-fat diets is also contributing to the regional market growth.
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The market in Europe is expected to enjoy lucrative prospects on account of the growing adoption of veganism in the region. In addition to this, there is a general shift towards consumption of healthy, organic foods, especially desserts, which favors the market in Europe. In Asia Pacific, rising disposable incomes, increasing presence of global food companies, and climbing demand for niche and premium food products such as imitation whipped cream will fuel market growth.
Release of Innovative Offerings to Animate Competitive Spirits of Key Players
The increasing demand for non-dairy, vegan whipped cream products is encouraging key players in this market to innovate and launch novel offerings for consumers. Besides this strategy, companies are also strategically investing in research and development activities, partnering with other entities, and expanding their regional and international presence.
- September 2023: Starbucks announced that the company will be introducing vegan whipped cream at its outlets across the UK in October 2023. The new offering will be launched in time with the upcoming Pumpkin Spiced Latte season, which will now be available in a vegan variant.
- January 2023: Silk, a leading plant-based beverage brand in the US, released a unique plant-based heavy whipping cream, the first of its kind, called “NEW Silk Dairy Free Heavy Whipping Cream Alternative”. The cream can be used for enhancing desserts, soups, sauces, and many other preparations.
List of Key Players Covered in the Imitation Whipped Cream Market Report:
- Nature’s Charm
- Palsgaard A/S
- Conagra Brands, Inc.
- Regal Cream Products Pty Ltd.
- WhiteWave Foods Company
- Danone S.A.
- South Bakels Pty Ltd.
- DuPont de Nemours, Inc.
- The Kraft Heinz Company
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