The global dry cream market will reach $1.7 billion by 2031

Published 2024년 9월 11일

Tridge summary

A market research report by Market Research Intellect forecasts a steady growth in the dry cream market, with an expected increase in revenue from $957.1 million in 2023 to $1.7 billion by 2031 at a 7.5% annual rate. This expansion is primarily driven by the product's longer shelf life, which is particularly beneficial in regions with limited refrigeration, and its widespread use in various sectors such as food and beverage production, cosmetics, and pharmaceuticals. Urbanization and changing consumer preferences, especially in developing countries, also contribute to the market's growth. However, the market faces challenges like raw material price instability, regulatory compliance, competition from plant-based alternatives, and health concerns over the product's high fat content. Despite these challenges, the market is expected to grow due to the increasing use of dry cream in functional foods and nutraceuticals, innovative product formulations and packaging, and demand from the Asia-Pacific region and Latin America.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In 2023, the dry cream market was valued at $957.1 million, and by 2031, analysts predict that the market capacity will almost double to $1.7 billion. Thus, the average annual growth will be 7.5% from 2024 to 2031, according to a report by Market Research Intellect. The dry cream market is growing rapidly due to growing demand from a number of sectors, including food and beverage production, cosmetics and pharmaceuticals. Market growth is due to an increase in the share of semi-finished products, the main ingredient of which is dry cream. Dry cream is especially in demand in regions with a hot climate and a shortage of refrigeration chambers, since dry cream has a longer shelf life than the fresh product. In addition, the increase in the market share of dry cream is influenced by such global processes as urbanization and changing lifestyles: consumption of this product is growing in developing countries located in Latin America and the Asia-Pacific region. New business ...
Source: Milknews

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