Global Sour Cream Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product Type (Conventional, Organic), By Distribution Channel (Online, Offline (Supermarkets/Hypermarkets, Grocery Stores, Others)), And By Geography - Forecasts From 2022 To 2027
- Published : Oct 2022
- Report Code : KSI061613615
- Pages : 132
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 because 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, 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 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 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 examples of product offerings are as follows:
- In August 2021, Good Culture introduced four new items, including a squeezable bag of traditional sour cream and its first-ever lactose-free line. The brand's delicious, straightforward, and cultured sour cream is already available on the market, but it is also available in sour cream pouches and tubs that are lactose-free.
- Recently, in March 2020, Kite Hill, which is one of the companies that is involved in the manufacturing of plant-based dairy alternatives, based in San Francisco, announced the launch of their new product called the “Kite Hill Sour Cream Alternative. This product has been made completely using plant-based ingredients under this new lineup of products, which includes other plant-based dairy products also. The sour cream alternative that is provided by the company is able to offer a rich taste with a creamy texture and is made using California almonds.
- In February 2019, Prairie Farms Dairy, which is among the leading companies involved in the provision of a variety of dairy products, announced that it had expanded its existing product lineup with the launch of its product. They are squeezable pouches of their sour cream, which have been launched so that consumers find it easier to use it as a topping in a controlled amount. The product is available in a 12 oz. pouch and the package can be easily opened and closed.
- Good Pharma, a well-known company for its line of flaxseed-based milk and yogurt products, announced in November 2019 that they have entered the sour cream market with the launch of their new product called "Plant-based Our Cream." The product is available to consumers in a 16oz tub and will retail for $3.99. In addition, the product is made using a traditional culturing process and contains a combination of different ingredients, unlike only cultured cream, which is present in the majority of the sour cream products in the market.
- "In March 2019, Good Culture LLC, an Irvine, California-based company that manufactures and distributes cottage cheese products, announced that they had entered the sour cream market with the launch of their new product, "Good Culture Sour Cream”. The product is made available in 16-ounce containers and contains less sugar. Simple ingredients and have a high protein content.
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.
Global Sour Cream Market Scope:
|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|
- By Product Type
- By Distribution Channel
- Grocery Stores
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Sour Cream Market Analysis, by Product Type
6. Global Sour Cream Market Analysis, by Distribution Channel
6.3.2. Grocery Stores
7. Global Sour Cream Market Analysis, by Geography
7.2. North America
7.2.1. United States
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. United Arab Emirates
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Organic Valley
9.2. H.J. Heinz Company Brands LLC
9.3. Fonterra Co-operative Group
9.4. Daisy Brand LLC
9.5. Dairy Farmers of America
9.6. HP Hood LLC
9.7. Green Valley Creamery
9.8. PRAIRIE FARMS DAIRY
9.10. Flanders Dairy Products
H.J. Heinz Company Brands LLC
Fonterra Co-operative Group
Dairy Farmers of America
HP HOOD LLC
Green Valley Creamery
PRAIRIE FARMS DAIRY
Flanders Dairy Products
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