The global sour cream market size is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the ever-expanding applications across several industrial domains.
Sour cream is a dairy-based product that is made by fermenting ordinary cream, which is fat-rich and contains lactic acid bacteria. The bacterial culture is added to the cream to thicken it and give it a sour taste. Sour cream is extensively used as a condiment and topping in a variety of cuisines, as well as in baking, pastries, the dairy industry, and other industrial purposes. Sour cream is heavy in lipids and calories, and commercially manufactured sour cream contains thickening agents like rennet, gelatin, and guar gum, among other things. It is frequently used as a necessary alternative for other goods such as cheese, Greek yoghurt, and other items.
Organic sour creams are in high demand because they include more omega-three fatty acids, CLA (Conjugated Linoleic Acid), antioxidants, and vitamins than ordinary sour creams. CLA is a naturally occurring fatty acid that has gained prominence as a component of weight-loss products. Heluva Good! has released a sour cream Beer-Battered Onion Ring dip with fried delicious yellow onions, beer, and sour cream.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for fat-free sour cream among health-conscious customers is anticipated to push the market expansion during the forecast period.
- The rapid growth of the sour cream market for lactose-intolerant consumers is a key factor driving the market growth in the coming years.
- Growing cholesterol problems among consumers are expected to boost the market growth during the forecast period.
- The presence of stringent government regulations in various countries is expected to impede market expansion.
- R&D investment and technological advancements in flavor and packaging formats are projected to offer immense opportunities for the market players.
Market Segment Insights
The organic sour cream segment is projected to hold a large market share
In terms of types, the global sour cream market is segmented into organic sour cream and conventional sour cream. The organic sour cream segment is expected to constitute a key share of the market during the forecast period owing to clean label and natural trend. On the other hand, the conventional sour cream segment is anticipated to expand at a rapid pace during the forecast period.
The bakery products segment is anticipated to register at rapid CAGR
On the basis of applications, the global sour cream market is divided into bakery products, salad dressing, dips, snacks, sauces, ice cream, and others. The bakery products segment is expected to represent a key share of the market in the coming years due to increased applicability across numerous industrial fields. On the other hand, the salad dressing, dips, snacks, sauces segments are anticipated to expand at a rapid pace in the coming years.
Europe is expected to dominate the market
On the basis of regions, the global sour cream market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Europe is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to increasing occurrences of lactose intolerance and the availability of dairy substitutes. Furthermore, the rapid uptake of dairy substitutes in Europe has transformed consumer preferences, and dairy-free sour cream is being used in industrial applications. On the other hand, the market of North America is expected to exhibit a rapid growth rate in the coming years due to heavy reliance on dairy products in culinary preparations and baked goods. In addition, because of the rising population that is primarily predisposed to adopting global eating patterns, the Asia-Pacific region is expected to be the fastest expanding market for sour cream.
Compititive Landscape
Key players competing in the global sour cream market include Laiterie Chalifoux, Organic Valley, Cabot Creamery, WhiteWave Services, Uelzena Ingredients, Daisy Brand, and Meggle.
Some of these players are investing heavily in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.