Sour Cream market is anticipated to touch USD 2.55 billion by 2030, growing at a CAGR 4.72% during the forecast period (2023 - 2030).
The global sour cream market is mainly driven by the growing demand for dairy products and bakery products, according to the latest research report from Market Research Future (MRFR). The global sour cream market is mainly driven by the growing utilization of sour cream in dips, toppings, and dressings in the global food and beverage industry.
Segmentation:
The global sour cream market has been segmented based on category, packaging type, and distribution channel.
Based on category, the sour cream market has been segmented into organic and conventional. The demand for organic sour cream is likely to increase steadily over the forecast period.
The market has been segmented by packaging material into bottles, tubs/cups, squeezers, and others.
By distribution channel, the sour cream market is segmented into store based and non-store based. Store based distribution is likely to hold the dominant share in the global sour cream market over the forecast period due to the widespread presence of modern supermarkets or hypermarkets in emerging regions such as Asia Pacific. The growing presence of local as well as international retailers in Asia Pacific is likely to be a major driver for the sour cream market, as the Asia Pacific market has a high volume.
Competitive Analysis:
Leading key sour cream market players are Saputo Inc., Kraft Heinz Company, HP Hood LLC, Dean Foods, Meggle, Daisy Brand LLC, Uelzena Ingredients, Cabot Creamery Cooperative Inc., Organic Valley, and Laiterie Chalifoux Inc.
Regional Analysis:
Europe holds the top spot in the global sour cream market and is likely to remain the top revenue generator over the forecast period due to the growing demand for sour creams in dips and other products. Sour cream has become a widely used dairy product in Europe due to the growing consumption of bakery products in Europe as well as the growing popularity of salads. Sour cream is widely used as a salad dressing in Europe, leading to a growing demand from the sour cream market over the forecast period. The increasing demand for baked goods is also likely to be a major driver for the sour cream market in Europe, as sour cream is widely used as an ingredient in dips and toppings on bakery products such as scones and puffs. The increasing popularity of baked foods is thus likely to be a major driver for the global sour cream market over the forecast period.
North America is also likely to hold a considerable share in the global sour cream market over the forecast period due to the growing consumption of baked foods in the region. The increasing demand for bakery products such as sweetbread and cakes is likely to act as a powerful driver for the sour cream market in North America over the forecast period. The increasing demand for dairy products in North America is also likely to remain a major driver for the sour cream market over the forecast period. Increasing demand for sour cream in North America is mainly driven by the growing awareness of the health benefits of sour cream, especially in comparison to other popular condiments such as ketchup and mustard sauce.
Asia Pacific is likely to remain a major regional market for the global sour cream market over the forecast period due to the growing cross-cultural exchange in the food and beverages industry, leading to a growing demand for Western foods such as sour cream. While dairy products hold longstanding traditions in Asia Pacific, sour cream is a Western invention. Growing awareness about the availability of Western foods in Asia Pacific countries such as China, India, Japan, and South Korea is likely to be a major driver for the global sour cream market over the forecast period. The increasing demand for salads in Asia Pacific is also likely to drive the demand from the sour cream market, as sour cream is widely used as a topping and dressing on salads.
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