The global frozen dessert market size is expected to reach around US$ 120 billion by 2026 growing at noteworthy CAGR around 5.8 % throughout the forecast period 2019 to 2026.
Frozen desserts are usually eaten as sweets like frozen ice cream and frozen yoghurt. The majority of these products, such as milk and cream, are made from milk. There are several variables depending on the ability of a distributing channel to frozen desserts: the concentration of suppliers, the penetration of food processing and the extent and preferential treatment of retail chains.
The report provides analysis of global Frozen Dessert market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Growing demand for frozen dessert products worldwide is a significant reason for the market growth as customer tastes and public awareness alter. In addition to the addition of the implementation in the dessert section of multiple products that meet the decisions of the large group of customers, increased disposable incomes drive the market.
In particular, frozen desserts consist of milk, vegetable fats, and a combination of aromas and dry fruits. The development of the dessert industry is boosting the trend to consume frozen dessert after dinner as an efficient digestive product. Another factor in worldwide demand for frozen desserts, such as ice cream and frozen yogurt, is climate change. The demand for ice creams alone is estimated to be up to 50% on warm days, and to fall by 20% in poor weather. Customers think that they are eating ice cream just to cool the temperature of their body in hot weather and thus boost market growth.
The development of this market is hampered by increasing health issues among individuals. Most customers prefer healthier options for low-calorie, vegan alternatives and dairy-free products, thus influencing market growth. According to the WHO, over 400 million individuals in the globe live with diabetes, which in the next 2 decades will rise to over 600 million. The increased number of patients suffering from diabetic diabetes placed severe pressure on the sector to create sugar-free products for the customers involved.
Due to the growing popularity of frozen dessert on the market, several businesses are also expanding their product portfolio in this sector. For example, with the addition of frozen desserts in India, Coca-Cola, a carbonated drink giant has extended its company. The firm also announced its commitment to invest 11,000 crore in the development, deliveration and marketing of a range of fruit-based products and desserts in the agriculture-focused ecosystem and food processing facilities.
Distribution Channel Outlook
In 2018 the market share was biggest for the supermarket / hypermarket segment. During the forecast period, the segment is anticipated to be the fastest growing with the acquisition of frozen desserts and everyday foodstuffs, due to a continuously rising demand for desserts in daily meals.
The increased trend in the procurement of products from specialist stores has led to the opening for frozen dessert products of various cafés and bakeries. Recent developments have forced them to adapt their menus to nutrient desserts that have further improved their products. In addition, several internet distribution partners are providing innovative alternatives to deliver frozen desserts as fresh as their source points at their corresponding places. The internet purchase of frozen desserts has thus increased.
By product, the market is divided as ice cream, confectionary & candies, and frozen yogurt. Ice cream is one of the most important goods in this industry and in 2018 it accounted for over 55% of the biggest market share. As the popularity among generations grows, the demand for ice cream increases at a big level.
Flavors, shape, fatty content and texture and flavor are other variables which fuel the development of ice creams. Free sugar ice creams are back enormous popularity with designed ones because of their beneficial health effects. While ice cream customers are interested in the taste and nutrition, cost, brand and atmosphere play a key role in this market. According to a study, 36% of Brazilians are reported to purchase cheaper, and therefore prefer a personal label of ice cream.
Frozen yogurt, due to several health advantages connected with the product, is predisposed to the fastest development over the forecast period. This is a frozen dessert prepared with yogurt or with other dairy and non-dairy products. In many cases, frozen yogurt competes with ice cream and is considered a safer alternative. The customers are obliged to move from ice cream to frozen yogurt, making it the fastest increasing product.
Due to the increasing demand for ice creams in the area, North America was the biggest national market in 2018. In 2018, the U.S. accounted for more than 90% of the market in North America. Changing lifestyles and a growing awareness of health boost the development of this industry.
Frozen yogurt has over 400 brands and is the most famous product for customers. It offers a variety of flavors. In light of this, a number of initiatives have been launched by the United States Department of Agriculture (USDA) to encourage consumption of yogurt and associated products throughout the region. Low fat yogurt is a big calcium source and is more and more promoted by the health and nutritional organisation.
Asia Pacific should arise in the forecast period as the fastest increasing regional industry. The increasing population in this region, changes in lifestyle, higher available incomes and changing circumstances of the climate are some of the main drivers of the economy.
Global Frozen Dessert Market, By Product
Global Frozen Dessert Market, By Distribution Channel
Global Frozen Dessert Market, By Geography
The market research study on “Frozen Dessert Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Frozen Dessert market segments with market dynamics and their impact. The report also covers basic technology development policies.
It offers an assessment of the recent industry trends in each segment from 2015 to 2026, with income development at worldwide, national and regional levels. For the purposes of this research, ARC has divided into a product, distribution channel and region the worldwide frozen dessert market report:
Key Players & Strategies
General Mills, Nestle, Unilever, Van's Foods and Kellogg Company are among the leading players in this industry. Handles, China Mengniu Dairy, Bassetts Ice Cream, and Dairy Queen are also prominent players. High to mild entry obstacles are expected to reinforce high competition between significant producers as a consequence of different brands and fast product innovation.
Increased demand for organic goods because of health advantages such as low fat and low sugar levels is boosting competition amongst multiple business players. Innovativeness and the new product development are crucial for maintaining the consumer interest, because of a comparatively fragmented competitive landscape. As a consequence, at the end of the review era, several fresh products are continually being introduced by the main players. In the explosion of craftsmanning ice creams in the industry, for example, US-based low-calorie Halo Top brands played a main part in affecting the market growth of giants like Unilever and General Mills.