A recent study shows that the liquid non-dairy toppings are increasingly being produced from almond milk, peanuts, hazelnuts, walnut, tiger nut, cashews, coconut, spelt, hemp, pea, and quinoa, and that supermarkets and hypermarkets are showing interest in setting aside aisle space for such products.
The report states that the market is likely to witness significant increase in growth post 2021, to reach an estimated US$ 2.3 Bn valuation by the end of 2031. Asia Pacific excluding Japan, led by China, will remain a major contributor to growth in the future.
Non-dairy toppings such as non-dairy whipping creams, non-dairy pouring creams, and non-dairy spooning creams have become increasingly popular among consumers and manufacturers, owing to a number of benefits, including lower fat content, lower costs, and superior stability. Ease of use has made these products popular among bakers and caterers.
- The global non-dairy toppings market was hit hard by the COVID-19 pandemic, with growth going south bound at -7.1% in 2020. However, 2021 will see the return of normal growth at around 7.5%.
- Western Europe currently accounts for more than 25% in the non-dairy toppings market, but is expected to reflect steady decline in market share through 2031. Asia Pacific excluding Japan is expected to portray a higher growth rate of over 11% during the forecast period.
- The U.S. is set to hold over 15% of global market share.
- Germany holds a leading share of over 20% in Western Europe, while China and India are lucrative markets in APEJ.
- Based on base ingredient, demand for vegetable oil accounts for a higher share in the market, and is expected to display a healthy growth rate through the forecast period.
- In terms of product, whipped cream accounts for a higher share in the non-dairy toppings market, and is expected to portray strong growth during the forecast period.
- Demand for non-dairy toppings in bakery applications is expected to be the highest in comparison to other end uses, and is expected to double by 2031.
- More than 40% application of non-dairy toppings will be in bakery products.
- Modern stores to account for the most sales of non-dairy toppings across the world.
365 Whole Foods launched its low-calorie, low-fat plant based whipped topping in October 2020. Soy protein, pea protein, and cane sugar are prominent ingredients in this product offering.
Hanan Products Company Inc. launched its Tasty Whip Vegan topping in April 2020. Available in chocolate and vanilla flavors, the product is made from pea protein and aquafaba, and is priced at US$ 52 for a gallon-case.
Other leaders in the non-dairy toppings market include Rich Products Corporation, Puratos, Conagra Brands, Friesland Campina Kievit, Pinnacle Foods Inc., So. Delicious Inc., Schlagfix, Dawn Food Products Inc., and Goodrich Carbohydrates Ltd.