Sour Cream Powder Market

Sour Cream Powder Market Overview:

The global sour cream powder market size reached US$ 1,067.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,726.9 Million by 2032, exhibiting a growth rate (CAGR) of 5.49% during 2024-2032. The need for sustainability among individuals, rising prevalence of obesity driven by changing food habits, and burgeoning foodservice sector worldwide are some of the major factors supporting the market growth.

Sour Cream Powder Market Analysis:

• Major Market Drivers: The focus of foodservice establishments to diversify their menu options is catalyzing the demand for sour cream powder. This represents one of the major factors propelling the sour cream powder market growth.
• Key Market Trends: Sustainability is the new trend among individuals because of the rising awareness about harmful impact of carbon emissions. This trend is fulfilled by key players through offering sour cream powder prepared through sustainable sources.
• Geographical Trends: North America leads the market because of the rising demand for Mexican cuisines in the region. However, the rising consumption of RTE food products is making Europe an emerging market.
• Competitive Landscape: Some of the major market players in the sour cream powder industry include Bluegrass Ingredients, Inc., Commercial Creamery Company, Dairy Farmers of America, Inc., Hoosier Hill Farm LLC, Rogers & Company Foods Pty Ltd, The Food Source International Inc., Thrive Life LLC, Tsukuba Dairy Products Co., Ltd. (Shoei Foods Corporation), Varesco Group, among many others.
• Challenges and Opportunities: While the market faces challenges, such as the growing demand for fresh sour cream, it also encounters opportunities in the rising consumption of convenient food products across the globe.
   

Sour Cream Powder Market Trends:

Rising focus on sustainability

According to the World Economic Forum’s report 2023, 65% of people (approximately) are spending on a healthier and more sustainable life. Sustainably sourced ingredients are used by top companies to prepare sour cream powder. Their preference for farms that follow organic farming, pasture-raised dairy, and fair-trade certifications is further encouraging sustainability. Environment-friendly variants of sour cream powder are another key strategy of sour cream powder companies to attract buyers following sustainable living. As people are paying attention to sustainable packaging solutions, manufactures are using recyclable or biodegradable packaging material to enhance consumer loyalty.

Growing prevalence of obesity

The World Health Organization’s (report claims that 890 million people were living with obesity in 2022. The rising prevalence of obesity is catalyzing the sour cream powder demand due to its availability in low fat or fat free varieties. Its capability in maintaining weight and healthy lifestyle by reducing overall fat intake of individuals makes it a staple in several dishes. Vitamins, minerals, and probiotics in sour cream powder also assists in leading healthy life and preventing obesity among the masses.

Thriving foodservice industry

As per the IMARC Group’s report, the global foodservice market reached US$ 2,989.5 Billion in 2023 and is expected to reach US$ 4,046.1 Billion by 2032. The extended shelf life of sour cream powder makes it important for foodservice establishments like catering services, cafes, and restaurants. Its consistent quality and flavor are essential for making several dishes like dips, sauces, and baked goods, ensuring diversity in menu. The non-reliance of sour cream powder on refrigeration eliminates the need for storage facilities as compared to traditional sour cream.

Sour Cream Powder Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, end use, and distribution channel.

Breakup by Type:

• Low-fat
• Regular
   

Regular accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes low-fat and regular. According to the report, regular represents the largest segment.

According to the IMARC Group’s report, the global ready to eat (RTE) food market reached US$ 181.5 Billion in 2023. RTE food products are responsible for the rising demand for regular sour cream powder. Its utilization in preparing various RTE products like French fries, potato wedges, and sandwiches due to its convenience and versatility is offering a favorable outlook for the market. As RTE food products require ingredients with extended shelf life to maintain their freshness, the demand for sour cream powder is increasing around the world.

Breakup by End Use:

• Foodservice
• Food Industry
• Household/Retail
   

Foodservice holds the largest share of the industry

A detailed breakup and analysis of the market based on the end use have also been provided in the report. This includes foodservice, food industry, and household/retail. According to the report, foodservice accounts for the majority of the market share.

The convenience offered by sour cream powder to foodservice establishments makes it important in this sector. Cafes and restaurants are leveraging its versatility to offer numerous dishes to cater to evolving needs of people and add to sour cream powder market recent developments. As people are preferring RTE food products, foodservice establishments are introducing flavorful dips made using sour cream powder. Baked goods prepared from sour cream powder are also gaining traction among consumers and giving opportunities to these establishments to capitalize on this.

Breakup by Distribution Channel:

• Direct/B2B
• Indirect/B2C
  • Hypermarkets and Supermarkets
  • Specialty Stores 
  • Modern Grocery Stores
  • Online Stores 
  • Others
     

Direct/B2B represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes direct/B2B and indirect/B2C (hypermarkets and supermarkets, specialty stores, modern grocery stores, online stores and others). According to the report, direct/B2B represents the largest segment.

Companies working in the market make bulk purchases, which is only possible through direct/B2B transactions. Direct/B2B companies eliminate intermediaries, thereby reducing costs for both buyers and sellers. Moreover, direct/B2B companies are depending on sour cream powder market recent opportunities like advanced technologies to increase their reach and tap into emerging market of sour cream powder. Its example was presented in 2023 when Flipkart launched ‘Flipkart Commerce Cloud’ providing retail technology solutions for retailers around the world.

Breakup By Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest sour cream powder market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America dominates regional market for sour cream powder.

Sour cream powder is a staple in North American cuisines, which can be viewed as a substantial reason for the market growth. Its employment in numerous dishes, ranging from American food products to Mexican cuisines is directly impacting its demand in the region. In addition, vegan and plant-based diets continue to play a significant role in the market, as people are realizing the health benefits of these food products. As a result, the Only Plant Based launched vegan sour cream, mayo, & dressings in the USA in 2021.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the sour cream powder industry include Bluegrass Ingredients, Inc., Commercial Creamery Company, Dairy Farmers of America, Inc., Hoosier Hill Farm LLC, Rogers & Company Foods Pty Ltd, The Food Source International Inc., Thrive Life LLC, Tsukuba Dairy Products Co., Ltd. (Shoei Foods Corporation), Varesco Group, etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• Key players are focusing on research and development (R&D) activities to enhance the taste and qualities of sour cream powder. They are also using e-commerce platforms to expand their reach and attract new consumer base, thereby increasing the sour cream powder revenue. Besides this, partnerships with retailers, distributors, and wholesalers are helping them increase the accessibility of sour cream powder for buyers. Top companies are also capitalizing on the evolving taste of people worldwide by introducing variants of sour cream. For example, Vermont Creamery introduced its first cultured sour cream and fulfill its aim to deliver a rich and velvety sour cream experience.

Sour Cream Powder Market News:

• April 2024: Prairie Farms Dairy launched new lactose free dairy products, such as milk, cottage cheese, and sour cream, to cater to lactose intolerant consumers.

Sour Cream Powder Market Report Scope:

Key Questions Answered in This Report:

• How has the global sour cream powder market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global market?
• What is the impact of each driver, restraint, and opportunity on the global market?
• What are the key regional markets?
• Which countries represent the most attractive sour cream market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the market?
• What is the breakup of the market based on the end use?
• Which is the most attractive end use in the market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global sour cream powder market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the sour cream powder market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global sour cream powder market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the sour cream powder industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.