Author: Acumen Research and Consulting

Frozen Dessert Market, valued at USD 110.8 Billion in 2022, is projected to surpass USD 191.6 Billion by 2032, indicating a robust CAGR of 5.7%

The frozen dessert business has expanded significantly in recent years as a result of changing consumer preferences, rising disposable income, and a growing need for quick but delicious sweets. A market research highlights many critical trends that are driving this increase. For starters, there is a noticeable move towards healthier frozen dessert alternatives, with customers looking for items manufactured with natural ingredients that are low in sugar and devoid of artificial chemicals. This tendency is consistent with the wider health and wellness movement, which influences eating choices.

In addition, there is a growing desire for creative flavors and distinctive product offers that appeal to a wide range of customer interests and preferences. Artisanal and premium frozen desserts are becoming increasingly popular among discriminating customers ready to pay a premium for high-quality, handmade goods. Furthermore, convenience is a key driver of market development, with customers preferring single-serve amounts, portable forms, and on-the-go packing. The industry is also seeing significant competition from plant-based alternatives, owing to the growing popularity of vegan and dairy-free diets. Manufacturers are reacting by increasing their product offerings to include non-dairy alternatives produced from components such as almond, coconut, and soy.

Frozen Dessert Market Statistics

• The global frozen dessert market is expected to grow at a CAGR of 5.7% between 2023 and 2032, from USD 110.8 billion in 2022
• In 2022, North America will account for 40% of the market
• Asia Pacific is expected to grow at a CAGR of 6.5%
• Ice cream sector dominates with a 49% market share by 2022
• The supermarket/hypermarket distribution channel sector generates significant revenue for the frozen dessert industry
• Expansion in developing markets with rising disposable incomes is a notable trend in the market

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Frozen Dessert Market Dynamics

Increasing Consumer Demand for Healthier Dessert Options Fuels the Frozen Dessert Market Value

Consumer demand for healthier dessert choices is a major factor affecting the dynamics of the frozen dessert business. This trend is largely driven by a rising knowledge of the relationship between diet and health, with consumers becoming increasingly concerned about the nutritional value of the foods they consume, particularly sweets. One major factor driving this demand is the growing worry about lifestyle-related health conditions including obesity, diabetes, and heart disease. As a result, customers are actively looking for frozen dessert choices with lower sugar content, fewer calories, and better fat profiles. They are seeking for options that would help them to satisfy their sweet desires without jeopardizing their nutritional objectives or general health.

Furthermore, there is a larger cultural trend towards health and clean eating, with consumers valuing natural ingredients, clear labels, and openness in food manufacturing methods. They are increasingly drawn to frozen sweets created with nutritious, natural ingredients such as fruits, nuts, and plant-based alternatives. Manufacturers are reacting to this demand by reformulating their goods to suit healthy standards, including superfoods, removing artificial additives, and providing portion control alternatives. They are also spending in marketing efforts to promote their goods' health advantages, using words like "low-sugar," "low-calorie," and "natural" to appeal to health-conscious consumers.

Rising Demand for Premium and Artisanal Frozen Desserts Offers Significant Frozen Dessert Market Opportunity

The growing demand for premium and artisanal frozen desserts creates a significant potential in the frozen dessert industry, driven by altering consumer tastes for decadent, high-quality goods with distinctive flavors and experiences. Premium frozen desserts are becoming increasingly popular as a kind of cheap luxury, with consumers prepared to pay a premium for items that provide superior flavor, texture, and sensory experience. This need is driven by a desire for indulgence and a readiness to pamper oneself with higher-end items, especially on special occasions or as a form of self-care.

Artisanal frozen sweets, in particular, are gaining popularity owing to their handmade nature and emphasis on quality ingredients and skill. Consumers are drawn to the authenticity and originality of handcrafted items, and they value the attention to detail and personalization that goes into their creation. This trend is part of a larger push to support local producers and small-batch production, as customers demand authenticity and transparency in their food purchases.

Furthermore, premium and artisanal frozen desserts frequently have a broader choice of unique flavors and ingredient combinations, appealing to adventurous palates and food connoisseurs looking for new taste sensations. This provides a chance for producers to differentiate their products in a crowded market, enticing discriminating consumers eager to try new and unique flavor profiles.

Frozen Dessert Market Segmentation

The global market for frozen dessert has been segmented into product, category, and distribution channel and region.

• Product segment is bifurcated into frozen yogurt, ice cream, confectionary & candies, and others
• Category segment is sub-segmented into conventional, and sugar-free
• Distribution channel sub-segmented into supermarket/hypermarket, cafe & bakery shops, convenience stores, online, and others
• The frozen dessert market is geographically split into Europe, North America, Latin America, APAC, and the Middle East and Africa

Frozen Dessert Market Regional Outlook

The frozen dessert industry demonstrates diverse trends and dynamics across areas, affected by cultural preferences, economic situations, and consumer lifestyles. The market in North America is characterized by a strong demand for premium and artisanal frozen desserts, which is driven by an indulgent culture and a desire for high-quality, creative goods. The region is also seeing a large increase in healthier dessert alternatives, indicating customer concerns about health and fitness. In Europe, there is a rising preference for natural and organic frozen desserts, with customers placing a premium on items manufactured with nutritious ingredients and free of artificial additives. Artisanal and regionally produced choices are also gaining popularity, as customers seek original and distinct flavor sensations. The frozen dessert industry in Asia-Pacific is growing due to increased urbanization, rising disposable incomes, and changing consumer lifestyles. There is an increasing desire for Western-style sweets as well as traditional Asian frozen delicacies that have been updated to meet current preferences. Furthermore, there is a growing desire in healthier dessert options, particularly among urban, health-conscious customers.

Frozen Dessert Market Players

Frozen dessert companies profiled in the report include Meiji Holdings Co. Ltd, Bulla Dairy Foods, Dairy Farmers of America, Yasso Inc., MondelÄ“z International, Inc., General Mills Inc., Unilever PLC, Nestlé S.A., Fonterra Co-operative Group Limited, Dunkin' Brands Group Inc., Inner Mongolia Yili Industrial Group Co. Ltd.

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