Frozen Dessert Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Frozen Yogurt, Ice Cream, Frozen Cakes, Others), By Category (Conventional, Sugar-Free), By Distribution Channel (Supermarkets/Hypermarkets Convenience Stores, Online, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Jul 2022
- Report Code : KSI061611609
- Pages : 114
The frozen dessert market is evaluated at US$106.946 billion for the year 2020 and is projected to grow at a CAGR of 4.64% to reach the market size of US$146.943 billion by the year 2027.
Frozen desserts, such as ice pops, shaved ice, sorbet, and ice cones, are made of milk solids or vegetable oils and are primarily based on flavoured water. Because of the range of flavours available in the frozen desserts market, they are most widely consumed as frozen yogurts, frozen cakes, and ice creams. Furthermore, consumers have a preference for ice cream after meals, which explains why ice cream sales are significantly larger than those of other frozen desserts. On a worldwide scale, climate change is an issue that is anticipated to drive up demand for frozen sweets like ice cream and frozen yogurt. On a hot day, demand for ice cream is expected to increase, whereas demand for ice cream drops if the weather is unfavourable. Customers believe that they eat ice cream to cool down their body temperature in hot weather, fuelling the market's growth.
Brave Robot stated its plans to expand its retail reach to 5,000 locations in February 2021. This expansion will see the brand's frozen ice cream pints sold in popular grocery stores like Kroger, Harris Teeter, Stop & Shop, Albertsons/Safeway, and natural grocers like Harmons, Fresh Thyme, and many more. Yogurtland's first oat milk-based vegan frozen yogurt flavour was introduced in 2021 shortly after the debut of its Plant-Based Salted Chocolate Soufflé flavoured frozen yogurt in January 2020. Dairy Day Plus, a product line of ice creams with immunity-boosting components, was introduced in 2020 by Dairy Day.
Changing consumer preferences
The frozen dessert market is expected to grow with rising demand for a healthier lifestyle and shifting consumer preferences towards low-fat dairy-based frozen desserts. This is largely due to the increased knowledge of health and wellness that has resulted from the simple availability of a wealth of health-related content on digital platforms. As a result, individuals are avoiding foods that are rich in fat or harmful to their health. The vendors in the frozen desserts market are offering a variety of low-fat and gluten-free products, which are attracting a large number of customers and driving up the frozen desserts industry revenue. Consumer preferences are shifting away from traditional dairy-based ice cream and toward luxury brands, paving the way for multinational enterprises to enter the global frozen dessert sector. Lactose-free frozen ice cream is one of the developing trends in the ice cream market that is predicted to gain popularity in the future. Food allergies and intolerances are on the rise, which is driving the market. Unilever is a major player in the Indian ice cream and frozen dessert business, with brands such as Kwality Walls, Magnum, and Cornetto catering to a variety of pricing points. According to the World Health Organization, more than 400 million people worldwide have diabetes, with that number expected to rise to more than 600 million in the next two decades. The frozen dessert sector is under great pressure from an increasing number of diabetes patients to manufacture sugar-free and low-calorie items acceptable for this segment of the market. The market's expansion is being hampered by the rising prevalence of diabetes in people. The sale of ice cream has surged in China, as the country's customers regard it as a snack, which is one of the key reasons for the product's rising popularity. Darjeeling tea, yuzu, matcha, maize, black sesame, barbecue sauce, pickled plum, goat cheese, and mocha ice cream have all made an appearance on the market, laying the groundwork for new flavours, particularly in the soft-serve style.
The Asia Pacific is expected to grow at a rapid pace
Geographically, the Asia Pacific accounts for a significant share in the frozen desserts market followed by North America. The North American market is attributable to the presence of numerous manufacturers and the rising disposable income of the people in the US region, whereas Europe is expected to rise in the anticipated period due to rising consumer preferences for low-calorie foods. The Asia-Pacific is expected to dominate the market and is the fastest-growing region. A vast population, a large young generation, rising disposable incomes, and changing dining patterns all promote the frozen desserts business in this region. Magnum and Cornetto have risen to the top of the rankings in the area, particularly in China, while premium products such as frozen ice cream and cakes are seeing a boost in retail sales in India and Japan. China ranks first in worldwide ice cream consumption followed by the US.
COVID-19 impaired the frozen desserts market in the short term due to the closure of restaurants, retail establishments, street sellers, and ice cream parlours but it had a positive impact on the frozen foods and desserts market in long term. The COVID-19 outbreak has sparked significant worry among consumers, prompting lockdowns and temporary store closures to stop the virus's spread. Hence, consumers began stockpiling pantry staples such as frozen treats with a longer shelf life as a result of this panic shopping. According to the American Frozen Food Institute's report, the dollar value of frozen food sales increased by 21 percent in 2020, while unit sales increased by 13.3 percent. According to IDFA, ice cream makers in the United States produced just over 1 billion gallons of ice cream in 2020, up 6% from 2019. Sales of frozen novelty items such as fudgesicles and ice cream bars increased by 24% from March to May 2021, compared to the same period in 2019. The market is expected to grow in the projected period.
Frozen Dessert Market Scope:
|Market Size Value in 2020||US$106.946 billion|
|Market Size Value in 2027||US$146.943 billion|
|Growth Rate||CAGR of 4.64% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, Category, Distribution Channel, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||General Mills Inc., Unilever PLC, Nestlé S.A., Fonterra Co-operative Group, Kellogg Company, Danone SA, Conagra Brands, Inc., International Dairy Queen Inc., London Dairy Co. Ltd, Yasso Inc.|
|Customization Scope||Free report customization with purchase|
- By Type
- Frozen Yogurt
- Ice Cream
- Frozen Cakes
- By Category
- By Distribution Channel
- Convenience Stores
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the frozen dessert market?
A1. The frozen dessert market is projected to grow at a CAGR of 4.64% during the forecast period.
Q2. What will be the frozen dessert market size by 2027?
A2. The global frozen dessert market is projected to reach a market size of US$146.943 billion by 2027.
Q3. What is the size of the global frozen dessert market?
A3. Frozen Dessert Market was valued at US$106.946 billion in 2020.
Q4. Which region holds the maximum market share in the frozen dessert market?
A4. Geographically, the Asia Pacific accounts for a significant share in the frozen desserts market followed by North America.
Q5. What factors are anticipated to drive the frozen dessert market growth?
A5. The frozen dessert market is expected to grow with rising demand for a healthier lifestyle and shifting consumer preferences towards low-fat dairy-based frozen desserts.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Frozen Dessert Market Analysis, by Type
5.2. Frozen Yogurt
5.3. Ice Cream
5.4. Frozen Cakes
6. Frozen Dessert Market Analysis, by Category
7. Frozen Dessert Market Analysis, by Distribution Channel
7.3. Convenience Stores
8. Frozen Dessert Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. General Mills Inc.
10.2. Unilever PLC
10.3. Nestlé S.A.
10.4. Fonterra Co-operative Group
10.5. Kellogg Company
10.6. Danone SA
10.7. Conagra Brands, Inc.
10.8. Dairy Queen
10.9. London Dairy Co. Ltd
10.10. Yasso Inc.
Fonterra Co-operative Group
Conagra Brands, Inc.
International Dairy Queen Inc.
London Dairy Co. Ltd
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