Ice Cream Global Market Report 2023
Major players in the ice cream market are Nestle S.A., Unilever Group Plc., General Mills Inc., Blue Bell Creameries LP, Cold Stone Creamery Inc., American Dairy Queen Corporation, Danone S.A., Lotte Confectionery Co.
New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ice Cream Global Market Report 2023" - https://www.reportlinker.com/p06463971/?utm_source=GNW
Ltd., Inspire Brands Inc., Dairy Farmers of America Inc., Turkey Hill Dairy LP, Wells Enterprises Inc., NadaMoo! R&D Room LLC, Mars Inc., and Wells Dairy Inc.
The global ice cream market is expected to grow from $119.34 billion in 2022 to $131.60 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ice cream market is expected to reach $186.82 billion in 2027 at a CAGR of 9.2%.
The ice cream market consists of sales of gelato, frozen yogurt, sorbet, soft serve, mochi, sherbert, rolled ice cream.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Ice cream is a frozen delicacy made from milk, cream, sugar, and occasionally additional components. It usually combines stabilisers, such as gluten, which aids in the consistency of the mixture, in addition to sugar or sugar substitutes, which are typically added to give the sweet flavour.
Asia-Pacific was the largest region in the ice cream market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in ice cream report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of ice cream are impulse ice cream, take-home ice cream, and artisanal ice cream.Impulse ice creams are liquid-based frozen snacks on a stick.
The various flavors involved are chocolate, fruit and others which are packed in cups, cones, sticks, bricks, tubs and others. It is available in dairy and non-dairy categories for sale in hypermarkets or supermarkets, ice cream parlors, online retailers, others.
Increasing consumer expenditure on fast food is expected to propel the growth of the ice cream market going forward.Consumer expenditure on fast food is the total amount of money spent by individuals and families on fast food items.
Fast food and ice cream are both considered indulgent and handy meal alternatives that cater to similar customer tastes.Fast food restaurants frequently provide ice cream as a dessert option, making it easy for customers to include it in their purchases.
Additionally, the growing café culture among millennials has boosted consumer spending on fast food. For instance, in September 2022, according to a report published by the US Bureau of Labor Statistics, a US-based agency that measures labor market activity, working conditions, and price changes in the economy, in the United States, the average expenditure on food away from home in 2020 was $2375, rising to $3030 in 2021, reflecting a 27.6% rise. Therefore, the increasing consumer expenditure on fast food will drive the fast food market.
Product innovations are a key trend gaining popularity in the ice cream market.Major companies operating in the ice cream market are focused on developing innovative products to strengthen their position in the market.
For instance, in January 2022, Magnum, a Denmark-based Belgian brand of ice cream, launched a mini-sized multi-pack of vegan ice creams in addition to a new and enhanced recipe for its vegan line of ice cream that is available in two popular vegan flavors: magnum vegan classic and magnum vegan almond.The new line provides all the richness and pleasure of a vegan magnum, the quality and flavor of which has earned the PETA Vegan food award.
The smooth ice cream is created from pea protein and flavored with high-quality Madagascan vanilla, providing a wonderful combination to the tastebuds with an exquisite creamy sensation without the use of dairy components.
In September 2021, Nomad Foods Ltd., a UK-based frozen foods firm acquired Fortenova Group’s frozen food division for approximately $ 649.37 million (€615 million). This purchase is projected to increase the combined businesses’ ability to produce value for years to come, based on a solid foundation of market-leading brands, operational excellence, and a strategic emphasis on frozen food. Fortenova Group is a Croatia-based company that offers a broad range of frozen food products including fish, fruits, vegetables, ready meals, pastry, and ice cream.
The countries covered in the ice cream market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ice cream market research report is one of a series of new reports that provides ice cream market statistics, including the ice cream industry global market size, regional shares, competitors with ice cream market share, detailed ice cream market segments, market trends, and opportunities, and any further data you may need to thrive in the ice cream industry. This ice cream market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06463971/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001