Global Sour Cream Market - Segmented by Distribution Channel and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global Sour cream market was valued at USD 1.6 billion in 2017 and is expected to register a faster growth rate during 2018-2023. The global Sour cream volume sale is expected to witness a CAGR of 1.7%, during the forecast period. Europe consumed about 304 million Kg of Sour Cream in 2017 with Germany the largest market.
The leading countries for sour cream consumption are US, Germany, Poland, France, and UK, which is followed by eastern and central European countries. North America is expected to grow at a faster pace due to high demand of cultured dairy products. Sour cream contains beneficial bacteria, which supports digestive health thus rising in demand. Increased demand for low fat sour cream, convenient packaging format, consumption of toppings, growing demand for organic whipped cream, and low fat cream has fueled the Sour Cream market growth.
Innovative Packaging Led the Way
Sour cream is mostly consumed as toppings on snacks, baked potatoes, and bakery products. Flexible packaging allows consumer to pour cream easily. Recently Daisy launched new flexible pack of sour cream, which has received various award for its innovative technology and revolutionary design. The packaging has inverted pouch shape with dispensing solution.
Consumers are demanding various flavors, such as spicy, roasted, exotic combinations in sour cream. Brands, such as Heluva Good! Launched sour cream Beer-Battered Onion Ring dip, which is made with fried sweet yellow onions, lager, and sour cream. Sour cream are mostly consumed with snacks as dip, toppings or mixed with other ingredients to use as a spread. Savory and spice are the most preferred flavor by consumers as it combines perfect with salty snacks.
North America Driving sales
Sour cream is a traditional product originated in Europe, which penetrated its demand worldwide mainly in North America. US is the largest consumer of sour cream after Germany and France with a volume consumption surpassed 40 million Kg in 2016. Canada sour cream market size is expected to reach around three-fourth of US by 2023, witnessing a fastest volume CAGR of 4.9%.
The sour cream consumption pattern varies from country to country. In US, it is put on hot dishes with Chives where texture over taste is of high concern for the product. In other countries, such as France and Mexico it is eaten with dessert and savory snacks, where flavor and mouth feel is of great importance. Designing product based on the application offer potential sour cream opportunity to companies.
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