Ice Cream Market to Garner USD 122,045.10 Million Revenue by 2030 at 4.8% CAGR - Report by Market Research Future (MRFR)
Ice Cream Market Size and trends Research Report: Information by Type (Bars, Buckets/Tubs, Floats, and Others), Claim (Lactose-Free, Low-Fat, Low-Calorie, and Others), Distribution Channel (Store-Based and Non-Store-Based), and Region - Forecast till 2030
New York, US, Aug. 05, 2022 (GLOBE NEWSWIRE) -- *Market Overview*
According to a Comprehensive Research Report by Market Research Future (MRFR), “Ice Cream Market *Information by Type, Claim, Distribution Channel, and Region- Forecast till 2030*”, the market is estimated to acquire a size of over USD 122,045.10 Million by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 4.8% during the review timeframe.
*Market Scope:*
There are two ways to sweeten ice cream: using natural sugar or artificial sweeteners. Customers can choose between hard, soft, light, low-fat and other types of frozen desserts from the many companies in the market that offer them. Ice cream consumption peaks throughout the summer months, and there's no denying that.
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*Report Scope:*
*Report Attribute* *Details*
2030 Market Size USD 122,045.10 Million
CAGR 4.8% (2022–2030)
Base Year 2021
Forecast Period 2022-2030
Historical Data 2020
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered by Type, Claim, Distribution Channel, and Region
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers increasing demand for frozen desserts
increasing global economy and population
*Competitive Dynamics:*
The overall expansion of the market is supported by a large number of small and medium-sized businesses operating in a variety of nations. New tastes and forms are being introduced by the makers in an effort to boost sales in developed regions like North America and Western Europe. In today's market, people are more interested in ice creams with natural ingredients, reduced calorie content, and health claims, so manufacturers are focusing on goods with these characteristics.
· Unilever (UK)
· General Mills, Inc. (US)
· Blue Bell Creameries (US)
· Nestlé (Switzerland)
· Lotte Confectionery Co., Ltd (South Korea)
· Mars, Inc. (US)
· Amul (India)
· Amy’s Ice Cream (US)
*Market Dynamics:*
*Market Drivers:*
The increasing popularity of ice cream, the rising demand for frozen desserts, and the growing global economy and population are all contributing to the global ice cream market's expansion. Lactose-free ice cream is gaining popularity, which opens up new growth potential for the ice cream industry.
Rising desire for new flavors, varieties, and impulse ice creams like cones, sandwiches, or pops is predicted to drive the market's growth in developing countries. As consumers become more concerned about their health, demand for premium ice creams is projected to rise in the coming years. To keep up with the ever-changing preferences of consumers, manufacturers are broadening their product offerings by incorporating functional ingredients, organic, herbal, and exotic flavors.
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*Market Restraints:*
The new regulations issued by the governing organizations regarding the manufacturing, labeling, and ingredients of ice cream products could have an impact on the global ice cream market. There are also issues about ice cream's effect on health that limit its growth.
*COVID-19 Analysis:*
Since ice cream isn't considered a need, the COVID-19 pandemic had a big impact on global ice cream consumption patterns. Ice cream eating was reduced over the world due to the fear of developing a cold. Ice cream was a comfort meal for some people during lockdowns. A large number of consumers purchased frozen products from online sellers and local general stores, which were able to accommodate a large amount of stock along with other necessities like groceries and pharmacies. The world's ice cream supply chain has been thrown for a loop because of social segregation laws and country-wide shutdowns or lockdowns. As a result, sales of ice cream were negatively impacted.
*Market Segmentation:*
*By Type:*
Bars and buckets or tubs are two popular ice cream packaging options that are becoming increasingly popular all throughout the country. Demand for bars & pops will be fueled by a variety of causes, including an increase in product innovation and an increase in the number of consumers looking for easy-to-use products.
*By Claim:*
The low-calorie and lactose-free food markets are predicted to increase rapidly during the time period under study. Health concerns and lactose intolerance has led to an increase in demand for these products.
*By Distribution Channel:*
The retail segment is predicted to increase at the fastest rate during the time period under consideration.
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*Regional Analysis:*
During the time period under consideration, the Asia Pacific region contributed the most to the global market in terms of revenue. More and more young people are purchasing goods and services in the area. To meet the rising demand for high-quality goods, major manufacturers have begun releasing new products. Dairy-free and vegan products are likely to see an increase in demand due to the growing trend toward healthier options. An increase in the number of people who are lactose intolerant will likely lead to an increase in the demand for vegan ice cream. The market for ice cream products is expected to rise as a result of rising disposable income, the introduction of new flavors by producers, and an increase in the consumption of ice cream as a snack.
There will be a large CAGR in North America throughout this time period. People in North America are more health-conscious than ever before, and this has led to a shift in their purchasing habits toward organic and natural foods. The majority of people in the area preferred healthier alternatives to common desserts and ice creams like candy and desserts. Vegan products are predicted to rise in popularity in North America as a result of these trends. For the region's enormous consumer base, manufacturers have been releasing a wide variety of products.
Ice cream from the European region is most popular in Sweden and the United Kingdom because of rising regional demand. The ice cream market is predicted to be greatly impacted by product innovation, economic growth, an increase in disposable income, and retail market expansion. Product innovation will broaden the range of options available to customers and help them meet their increasingly diverse needs, while economic development will keep their purchasing power rising.
A rising demand for ice creams from younger demographics and the growing middle class is predicted to fuel LAMEA's growth throughout the projection period. LAMEA ice cream market share was dominated by Brazil, which had the largest market share in the region. Countries like South Africa and Saudi Arabia, which have a lengthy summer, are projected to see an increase in ice cream sales in LAMEA.
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