Today, market analysis experts announce that the global whipping cream powder market is on track to see a substantial growth from 2023 to 2030, expanding at a Compound Annual Growth Rate (CAGR) of 8%. By the end of this period, it is forecasted that the industry will garner a remarkable revenue of USD 1.7 billion. Read Full Insights: Market Overview Whipping cream powder, a key ingredient used extensively in bakeries and confectioneries, has been witnessing a surge in demand fueled by changing consumer preferences and the rising popularity of dairy-free options. The evolving market is characterized by a strong inclination towards plant-based alternatives and the convenience offered by whipping cream powder in terms of storage and preparation, which aligns seamlessly with the fast-paced lifestyles of today's consumers. Key Findings The recent market analysis reveals promising growth, with non-dairy products witnessing the fastest growth, and bakery and confectionery applications retaining a significant market share. While Europe continues to spearhead the market, holding the highest market share as of 2022, the Asia Pacific region is anticipated to experience the strongest growth through 2030. Growth Drivers The notable growth drivers in this sector include: Increasing demand for convenience foods: Whipping cream powder offers a hassle-free solution, catering to busy lifestyles and demands for easy storage and preparation. Rising prevalence of plant-based F&B alternatives: The market is leveraging the soaring demand for vegan and dairy-free options, opening avenues for plant-based whipping cream powders that are in harmony with the sustainable and health-conscious choices of modern consumers. Challenges Ahead Despite the promising landscape, the market faces challenges in terms of potential health concerns with high-calorie and high-fat content and competition from alternatives. The industry is spurred to innovate, offering products with lower fat content and additional nutrients to meet the discerning needs of health-conscious consumers. Segment Overview Dairy-Based Whipping Cream Powder: Continues to be popular due to its authentic taste and texture, finding extensive applications in a variety of culinary creations. Bakery and Confectionery Applications: This sector leads in market revenue, thanks to the versatile usage of whipping cream powder in enhancing the flavor and texture of a range of products. Regional Insights Europe: The region stands strong with a rich culinary tradition and high-quality dairy production, promising a steadfast growth in the coming years. Asia Pacific: Emerging as a profitable market, witnessing a surge in demand owing to changing consumer preferences and increasing disposable incomes. Competitive Landscape The competitive landscape is marked by the presence of leaders such as Kraft Heinz, Wilton Brands LLC, and Adams Food Ingredients Ltd, among others, who are fostering innovation and steering the market towards a promising future. Our Trending Reports: Milk Calcium Market Star Anise Market Fairfield Market Research London, UK UK +44 (0)20 30025888 USA (Toll-free) +1 (844) 3829746