The Latin America, Middle East and Africa Whipping Cream Powder Market would witness market growth of 10.0% CAGR during the forecast period (2023-2030).
The population is growing significantly as the out-of-home consumption habit changes. Manufacturers face particular difficulties as a result of consumers' propensity to "enjoy food away from home." All moments when a consumer appreciates a good outside the home are considered out-of-home consumption. This has propelled a substantial expansion of food outlets in many nations, leading to the growth of the food and beverages industry.
Additionally, due to its connection to tourism and increased potential impact on a variety of culinary goods, desserts, and sweets, the HoReCa sector is expanding, which is also boosting demand for whipped cream powder. The increasing migration of tourists to any region aids in the strengthening of the regional industries. The demand for whipped cream powder is also being fueled by the creation of low-fat as well as fat-free products as customers become more health-conscious and search for healthier eating options. Overall, a number of reasons are driving up demand for whipping cream powder, and those trends are likely to continue in the future.
In Latin America, the hotel sector has grown significantly over the previous five years, and this trend seems certain to continue in 2018. While Latin America's diversity and natural resources are some of the region's tourism growth, governments have consistently worked to advance the industry, which is mostly responsible for the region's advancement. The development of regulations has also benefited tourism. For instance, Colombia successfully attracted significant investment to the hotel sector after establishing tax incentives and bringing about regional stability. International hotel companies have boosted their presence in the region and made significant investments in their Latin American hotel pipelines, including Hilton, Marriott, and Hyatt. Hence, the regional market will grow favorably throughout the forecast period because of the aforementioned elements.
The Brazil market dominated the LAMEA Whipping Cream Powder Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $33.5 Million by 2030. The Argentina market is experiencing a CAGR of 10.6% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 9.7% during (2023 - 2030).
Based on Source, the market is segmented into Dairy, and Non-Dairy. Based on Application, the market is segmented into Bakery & Confectionery, Ice-cream & Frozen Desserts, Beverages, and Others. Based on Type, the market is segmented into Sweetened, and Unsweetened. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Whipping Cream Powder Market is Projected to reach USD 1.5 Billion by 2030, at a CAGR of 7.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Kraft Heinz Company, The Food Source International, Inc, weikfield foods pvt. Ltd., General Mills, Inc. (Betty Crocker), AussieBlends LLC, Dr. August Oetker KG, Yaffa's Kitchen Pty Ltd, Hoosier Hill Farm LLC (Saco Foods), Royal FrieslandCampina N.V. and Swiss Bake Ingredients Pvt. Ltd.
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