The sour cream market is projected to grow at a CAGR of 6.24% to reach US$1,133.417 million by 2025, from US$788.246 million in 2019.
There has been a rise in the number of individuals that are suffering from different problems relating to the intestines, gut, esophagus stomach, which are broadly referred to as gastrointestinal problems. This is due to the fact that a majority of the individuals are leading a sedentary lifestyle 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 in order to facilitate proper digestion and lead a healthy lifestyle is dawning upon the individuals. This is encouraging them to consume healthy food including dairy products such as yogurt, 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 growth over the forecast period.
Usage of the 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 the Tortillas, Enchiladas, Quesadillas, or Tacos or as a dip with Nachos, Salads and other snacks.
In addition, it is also used in different types of desserts and baker products as an ingredient of toppings such as it used as a layer in Cheesecake, which is an increasingly famous 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 in hampering the market growth.
There is a rising prevalence of lactose intolerance among the individuals in the population in different regions globally and 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 common diseases that affect individuals. Lactose intolerance affects individuals from different regions differently. For example, around 75%-95% of the individuals, which are of African American and Asian descent, suffer from lactose intolerance, whereas the Northern European have a lower rate of 18%-26% lactose intolerance. This is restraining the market to reach its complete potential.
Product Offerings by Major Market Players in the Sour Cream Market Space
The offering of better and advanced varieties of sour cream with enhanced properties such as quality and flavor 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 to hold a considerable share over the forecast period owing to increasing use in Mexican Food
The North American region is expected to hold a noteworthy market share over the forecast period owing to the fact there are market players involved in catering to the demands of the consumers by launching different varieties in order to satisfy the demand 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 in Mexican cuisine to enhance the flavor profile and cater to changing tastes of the individuals, and the increasing popularity of Mexican food in different regions such as Europe and Asia Pacific.