Globally consumers are experiencing substantial changes in their respective lifestyles, a few of them are the natural process that is brought about by external factors like that of the global pandemic of COVID 19. To this end, it is relevant to note the increasing number of people are spending time indoors as telecommuting to work emerges as the new normal. The broad range of ice cream offerings is providing much sought-after comfort to the consumers. On the flavor front, albeit traditional flavors like chocolate and vanilla are still among the consumer favorites, today’s consumers are more open to experimentations paving the way for a new range of flavors for an unprecedented sensorial experience.
Japan Leads in New Product Development
Comprising mayonnaise to matcha as well as soybean to seaweed, Japan has emerged as the leading innovator in global ice cream innovation concomitantly occupying the highest share in ice cream launches. Propelled by the need to make year-round ice cream consumption available exciting formats and quirky flavors are facilitating Japanese ice cream to lead the food innovation drive of the nations and simultaneously providing a considerable amount of inspiration for launches across the world. Additionally, the rising cognizance of the uniqueness of the Japanese cuisine is another key determinant that is offering companies a means to incorporate traditional Japanese flavors Viz. yuzu and hojicha. Coupled with unconventional ice cream cones and the postponing of the Tokyo 2020 Olympics Japan has emerged as a global platform for food and beverage innovation that can appeal to global consumers.
Ice cream consumption in Japan was earlier limited to only the months of the summer season, however, this changed when LOTTE (KRX: 004990) endeavored to bridge the gap withing Japan’s Ice cream industry which it had noticed during the 1980s and brought about a path-breaking innovation resulting in winter product called Yukimi Daifuku- mochi ice cream. This new product development comprised the establishment of a new recipe that incorporated for mochi, different packaging (transitioning from blue to red emphasizing the warmth that it wanted to convey) ultimately opening up the Japanese market to the entire year and a wide variety of flavor in which this product is made commercially available. Blazing the trail in the Japanese ice cream market is EZAKI GLICO CO., LTD (TYO: 2206) that had commenced its ice cream business in 1953. Fats forward to the present, the official souvenir sweet of Tokyo that is manufactured and sold by GRAPESTONE Co, Ltd Tokyo Banana has announced the launch of the brand’s first-ever soft-serve ice cream in July 2020.
The Growing Adoption of Vegan Diets Is Expected to Drive the Non-Dairy Ice Cream Segment Augmenting Global Ice Cream Market Growth
Consumers across the globe are conscientiously preferring plant-based consumption which has also transcended to the ice cream space. This has incentivized the players in the global ice cream market to transition from the traditional offerings to more indulgent options to gain a competitive advantage. In this regard, it is important to note that the global ingredients manufacturers are also contributing to this development effectuating a promising outlook for the vegan ice cream market, with a plethora of options. This has also empowered companies to showcase that vegan options can also offer a range of luxury flavor offerings rendering it a preimmunized version of indulgence. Besides in continuance of the [popularity of oat-based drinks, dairy-free ice creams are expected to incorporate oats as well. A few instances are being provided to communicate the contextual relevance of the aforesaid in present times.
November 2020 - Partnership
A 150-year-old family-owned Cincinnati-based company called Graeter’s Ice Cream which has never launched an alternative to its dairy ice cream since it was established in 1870 had reportedly partnered with, a San Francisco-based startup producing animal-free milk proteins via microbial fermentation called Perfect Day to launch “Perfect Indulgence”, a range of frozen desserts using the latter’s animal-free dairy proteins. The product would be marked as animal-free, lactose-free, and vegan.
July 2020 – Ingredient Solution launch
A range of ingredient solutions for plant-based food and beverages solution called Danisco PlanitTM was launched by DuPont Nutrition & Biosciences [DuPont (NYSE: DD)] which is constantly engaged in the development of ingredient solutions for plant-based food and beverages, among others that comprise ice cream, among others. The product was developed with the rationale to aid food producers with the ability to cater to the increasing demand for healthier, and more sustainable foods and beverages that are devoid of dairy among others.
Ice Cream and Other Edible Ice* (Exports)
In Millions of US$
*whether or not containing cocoa
Source: International Trade Centre
By Type, the Segment of Artisanal Ice Cream Is Anticipated to Be Favorable for Bringing About a Healthy Global Ice Cream Market Growth
Among the cornucopia of ice cream products which are a staple in any departmental stores as well as other offline distribution channels, then there has been a surge in the number of creative, independent ice cream shops around the globe. With a profusion o low-calorie options made available to consumers. Companies are incorporating new features that are augmenting the paradigm shift in ice cream consumption which has been already set in motion by the commercially available plant-based and functional options. For instance, in October 2018, it was reported that the premium ice cream brand calledCulture Republick™ the first with probiotics was launched by Unilever (LSE: ULVR, NYSE: UL). The range of ice cream initial was reported to constitute Chocolate & Cherry, Cold Brew & Chocolate Chip, Lemon & Graham, Matcha & Fudge, Milk & Honey, Pistachio & Caramel, and Turmeric Chai & Cinnamon. Additionally, it was also communicated that Each pint tub comprises 11-12 grams of fiber, 16-18 grams of protein, 3 billion live active cultures, 400 - 500 calories, and zero artificial sweeteners. Further in December 2020, it was reported that artisan ice cream chain Salt & Straw would be unveiling a range called Vegandulence commemorating vegan ice cream indulgence. In January 2021, Perth, Australia Denada which offers all-natural sugar-free ice cream bridging the gap in the ice cream market experienced massive success catering to the keto community as well as general consumers.