Global Sour Cream Substitutes Market: Overview
Sour cream is a type of fermented dairy product, rich in fat. Sour cream is usually used as a topping on food products, such as salad dressing, baked product, fruits or vegetables etc. The creamy ingredient is a perfect choice for dips by most of the consumers. Sour cream is high in calories as well as in fats, which can be easily substituted by its substitutes such as cottage cheese, greek yoghurt, soy, avocados etc. Health conscience consumers or the consumers with health issues are major buyers of the sour cream substitutes. Greek yoghurt as a substitute for sour cream is most widely used in the market with variety of types such as whole milk greek yoghurt, whole milk plain yoghurt, non-fat plain yoghurt. Besides, the greek yoghurt has also contributed in increasing the dairy products consumption owing to its popularity and health benefits such as low fat and sugar. In countries such as Canada, U.K, Austria etc. the trend of consuming lower fat foods, helps the sour cream substitute market to grow.
Global Sour Cream Substitutes Market: Drivers and Restraints
The sour cream substitutes outperform the sour cream in terms of nutritional benefits. The global sour cream market is primarily driven by the growing demand for low-fat dairy products. The strong changing dynamics of the global dairy industry such as intake of extended shelf life dairy products, adoption of a healthier lifestyle, organic & probiotic foods etc. helps the global sour cream substitute market to expand further. Further, the fastest growing fast food centres are among the top consumers for sour cream substitutes and also one of the key parameters for growth statistics of the global sour cream substitutes market. The regulations such as Food Safety Modernization Act (FSMA), Farm Bill/Act, Safe Quality Food (SQF), etc. boots the global sour cream substitute market.
Global Sour Cream Substitutes Market: Segmentation
On the basis of substitute type, sour cream substitutes market can be segmented as follows:-
- Cottage Cheese
- Greek Yoghurt
- Coconut Milk
On the basis of the distribution channel, sour cream substitutes market can be segmented as follows:-
- Grocery stores
- Convenience stores
Global Sour Cream Substitutes Market: Region wise Outlook
The global sour cream substitutes market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). North America holds a major share in the global sour cream substitute market, owing to the increasing demand for probiotics food. The sour cream substitute market in Canada is quite healthy owing to the consumer preference for low-calorie food intake. Followed by North America, is Japan where dairy farming is an important agricultural production and also people are more inclined in using low-fat diet. The sour cream market in APEJ is expected to grow at healthy CAGR during the forecast period with factors such as growing retail sector, penetration of online selling of food items, demographic trends etc. are expected to contribute towards the growth in the region.
Global Sour Cream Substitutes Market: Key Players
- Some of the key players identified in the global sour cream substitutes market include:
- Danone Groupe SA
- NESTLÉ SA
- Ultima Foods Inc.
- General Mills
- Vermont Shepherd
- Cowgirl Creamery Corporation
- Chobani Inc.
- Yakult Honsha Co. Ltd
- Kraft Foods Group, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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- Latin America
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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