Procured from milk, fresh cream is a dairy product that has various functional properties such as enhancing the flavour, providing a rich consistency and helps in emulsification. It is used on its own as well as a base within numerous cuisines across the world. Moreover, fresh cream can also be accompanied with fruits, yoghurts, sauces, curries, cheese, ice creams, etc. A new research report by IMARC Group, titled “Global Fresh Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market reached a volume of around 3.5 Million Metric Tons in 2017. The report further anticipates the market to cross a volume of 4 Million Metric Tons by 2023, at a projected CAGR of more than 2% over the forecast period.
Market Drivers/Constraints:
- One of the primary factors which is driving the demand for fresh cream is thriving food and beverage industry. Owing to its rich texture and creaminess, fresh cream is used worldwide in various cuisines such as custards, pastas, ice-cream, shakes, sauces, sandwiches, etc.
- As a result of surging disposable incomes, hectic lifestyles, changing dietary patterns and rising health consciousness among the consumers, there has been a shift towards convenient and healthy food products such as fresh cream. This acts as another factor which is adding to the growth of the global fresh cream market.
- In addition to this, manufacturers have been consistently focusing on unique marketing strategies and coming up with new and different forms, and textures in order to widen their consumer base.
- However, the market also faces some of the challenges such as the soaring population of vegans and lactose intolerant which poses a major threat to the market growth.
Regional Insights:
On a geographical front, Asia, Europe, Middle East and Africa, North America and South America. Currently, Europe represents the largest consumer of fresh cream accounting for the majority of the total market share.
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Competitive Landscape:
The market is highly fragmented with the presence of both small and large manufacturers who compete in terms of prices and quality. There is an intense competition in the market which makes it difficult for small players to survive. Some of the leading players operating in the market are:
- Nestlé
- Danone
- Sodiaal
- Lactalis Group
- Fonterra
- Amul
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Mayonnaise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
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