The sour cream market is projected to grow at a CAGR of 6.29% to reach US$1,279.809 million by 2027, from US$835.095 million in 2020.
There has been a rise in the number of individuals that are suffering from different problems relating to the intestines, gut, and esophagus, which are broadly referred to as gastrointestinal problems. This is since a majority of individuals are leading sedentary lifestyles and eating unhealthy food most of the time, such as takeout food, junk food, and other unnecessary fat and carbohydrates.
However, the awareness regarding the importance of good gut health to facilitate proper digestion and lead a healthy lifestyle is dawning upon individuals. This encourages them to consume healthy food, including dairy products such as yogurt, and sour cream, among others, as these are loaded with good bacteria, which help in boosting the digestion process and ultimately, the overall health. Therefore, these factors are leading to an increase in the demand for sour cream and are bolstering the market’s growth over the forecast period.
The usage of sour cream in snacks, desserts, and bakery products is gaining traction and popularity
Sour cream is an increasingly popular condiment, that is used in Mexican cuisine as a spread in tortillas, enchiladas, quesadillas, and tacos or as a dip with nachos, salads, and other snacks.
In addition, it is also used in different types of desserts and bakery products as an ingredient of toppings, such as it being used as a layer in cheesecake, which is an increasingly popular bakery and dessert item consumed in the European and North American region. Thus, these factors are leading to increased demand for sour cream and contributing to the market growth.
The rising prevalence of lactose intolerance among individuals globally in different regions is hampering the market’s growth.
There is a rising prevalence of lactose intolerance among the individuals in the population in different regions globally, which is causing them to avoid consuming products with dairy content, including sour cream. According to the National Institutes of Health (NIH), lactose intolerance is a result of a lactose deficiency and is among the most common diseases that affect individuals. Lactose intolerance affects individuals from different regions differently. For example, around 75%-95% of the individuals, who are of African American and Asian descent, suffer from lactose intolerance, whereas Northern Europeans have a lower rate of 18%-26% lactose intolerance. This is restraining the market from reaching its full potential.
Product Offerings by Major Market Players in the Sour Cream Market Space
The offering of better and more advanced varieties of sour cream with enhanced properties such as quality and flavour among others, by existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.
Some of the examples of product offerings are as follows:
The North American region is expected to hold a considerable share over the forecast period owing to the increasing use of Mexican Food
The North American region is expected to hold a noteworthy market share over the forecast period owing to the fact that there are market players involved in catering to the demands of the consumers by launching different varieties in order to satisfy the demands of vegan consumers as well as other consumers. In addition, several investments are being made in order to accelerate the growth of the food and beverage industry. Moreover, the rising usage of Mexican cuisine to enhance the flavor profile and cater to the changing tastes of individuals, and the increasing popularity of Mexican food in different regions such as Europe and the Asia Pacific.
|Market size value in 2020||US$835.095 million|
|Market size value in 2027||US$1,279.809 million|
|Growth Rate||CAGR of 6.29% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Organic Valley, H.J. Heinz Company Brands LLC, Fonterra Co-operative Group, Daisy Brand LLC, Dairy Farmers of America, HP HOOD LLC, Green Valley Creamery, PRAIRIE FARMS DAIRY, GCMMF, Flanders Dairy Products|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the sour cream market size by 2027?
A1. The sour cream market is projected to reach a total market size of US$1,279.809 million in 2027.
Q2. What is the size of the global sour cream market?
A2. Sour Cream Market was valued at US$835.095 million in 2020.
Q3. What are the growth prospects for the sour cream market?
A3. The sour cream market is projected to grow at a CAGR of 6.29% over the forecast period.
Q4. How is the global sour cream market segmented?
A4. The sour cream market has been segmented by product type, distribution channel, and geography.
Q5. Which region holds the largest market share in the sour cream market?
A5. The North American region is expected to hold a noteworthy share in the sour cream market.
H.J. Heinz Company Brands LLC
Fonterra Co-operative Group
Daisy Brand LLC
Dairy Farmers of America
HP HOOD LLC
Green Valley Creamery
PRAIRIE FARMS DAIRY
Flanders Dairy Products
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