Ice cream is dairy product, which is sweetened with either natural sugar or artificial sweeteners. Various ice creams are provided by the companies present in the market, including hard ice cream, soft ice cream, light ice cream, low-fat ice cream, and others. Summer is an undisputed season for the consumption of ice cream and related products. The growth of the ice cream industry is driven by availability of various flavored ice creams. As a result, the ice cream consumers pay a premium price for these products, which in turn increases the revenue of the market.
Rise in disposable income is the major key factor driving the market. In addition, growth in demand for new variations of ice creams fuels the market growth. Moreover, increase in consumption of take-home ice cream products boosts the growth of the global ice cream market. However, ice cream being a seasonal product is a major restraint of the market. In addition, health concerns associated with the ice cream products impedes the market growth. Moreover, the market for ice cream products is highly consolidated, thereby restraining its growth. Rise in demand for innovative products and development of lactose-free ice cream provide growth opportunity for market expansion.
The exclusive COVID 19 impact analysis provides an analysis of micro and macro-economic factors on the Ice creams market. Also, complete analysis of changes on healthcare expenditure, economic and international policies on supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
The study analyzed the global Ice creams market based on type, category, flavor, product type, distribution channel, and geography.
Impulse ice cream, take-home ice cream, and artisanal ice cream are the types of the ice creams. The impulse segment held the largest share of the market. Impulse ice creams are bought for immediate consumption. These include cups, cones, ice-lollies, sandwiches, ice cream bars, and sticks. The impulse segment has outgrown the take-home segment and is expected to dominate the market during the forecast period. Ice cream is likely to remain an impulse purchase as manufacturers in the developing regions have failed to lure consumers with their bulk products.
Dairy and non-dairy are the category of the market. Non-dairy segment held a lion’s share in the market. Rising incidences of lactose intolerance and other milk-related allergies will foster product demand. Comprehensive product variations through materials including coconut, almond & soy milk will positively influence the industry growth. Innovative flavor offerings mainly including blended flavors has enhanced product development. Increasing consumer spending on take home and impulse products will further boost the non-dairy ice cream market demand.
Various flavours of the market include chocolate, fruit, vanilla etc. The vanilla segment is likely to account largest market share. This flavour is enriched with vitamins and minerals that provide several benefits including skin and, hairs health, uniramous nutria benefits, hence are extensively accepted flavours globally. Positive consumer outlook towards the consumption of pure and organic flavour products has encouraged the manufacturers to use pure vanilla flavors, thereby fuelling the segment growth.
Cup, stick, cone, bricks, and tub are the product type of the market. The cup ice cream generates highest revenue of the market, owing to the majority of consumers prefer purchasing ice cream cups.
Supermarket/hypermarket, convenience stores, and specialist stores are the distribution channel of the market. Supermarkets/hypermarkets represent the most popular distribution channel as they offer a wide collection of ice cream brands and flavors to the consumers.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, and the Rest of the World. The North America is leading the global ice cream market. The increase in income along with an enlarged indulgence for sweet dishes drives the growth of this market. Currently, the United States is leading the way owing to the introduction of handmade ice creams, which is relatively linked to market maturity.
The key competitor of the market includes Unilever Group, Nestle S.A., General Mills, Inc., Mars, Blue Bell Creameries, Lotte Confectionery, Wells Dairy Inc., Turkey Hill, Mihan Dairy Inc., Meiji Holdings Co. Ltd, Dunkin Brand, Amul, Amy’s Ice Cream, among others.
The study analysed the global Ice creams market based on type, claim, flavor, product type, distribution channel, and geography. Impulse ice cream, take-home ice cream, and artisanal ice cream are the type of the market. The impulse segment held the largest share of the market. Dairy and non-dairy are the category of the market. Non-dairy segment held a lion’s share in the market. Major flavours of the market are chocolate, fruit, vanilla etc. The vanilla segment holds highest market share. Cup, stick, cone, bricks, and tub are the several product types of the market. The cup segment generated highest revenue over the last few years. Supermarket/hypermarket, convenience stores, and specialist stores are the distribution channel of the market. Supermarkets/hypermarkets represent the most popular distribution channel. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, and the Rest of the World.
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