Ice Cream Market:
The GMI Research’s latest analysis reveals that the Ice Cream Market is slated to register a significant CAGR over the forecast period. This is mainly attributed to the rising disposable income, the growing consumption of take-home ice cream products, and the availability of several flavored ice creams.
Ice Cream Market’s leading Manufacturers:
- General Mills Inc.
- Nestle S.A.
- Mars Incorporated
- Blue Bell Creameries, L.P
- Lotte Confectionery Co. Ltd
- Wells Enterprises
- Turkey Hill Dairy
- Mihan Dairy & Ice cream Group
- Meiji Holdings Co., Ltd.
Ice Cream Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The rising disposable income, the growing consumption of take-home ice cream products, and the availability of several flavored ice creams are the major factors responsible for the growth of the ice cream market size. Consumers sometimes prefer to purchase various kinds of ice creams. Thereby, manufacturers emphasize creating innovations in their product range, including natural flavors, exotic colors, organic herbal filling, and others to fulfill ever-changing customer demands. As per the ice cream market analysis, the increasing health-consciousness among the consumers has shifted them towards low-fat health products. This is promoting the manufactures to develop a new ice cream product range with low sugar content. For example, Halo Top, an ice cream company, provides ice cream with natural ingredients and flavors, low sugar, low calories, and high protein. Thereby, the availability of flavored ice creams according to the need of customers will boost the growth of the ice cream market share in terms of revenue.
Growing purchase for premium ice creams is another factor that will positively influence the market’s demand. Consumers globally prefer high quality and exceptional ice cream flavors and are willing to buy more for improved quality products. Thereby, ice cream manufactures worldwide are introducing premium brands and variations on established products to capture the new and increasing preferences of the target audience. On the other hand, ice cream is more like a seasonal product which will hinder the growth of the market during the forecast period.
The outbreak of the COVID-19 pandemic has adversely influenced the ice cream market, particularly in 2020. The total sales of ice cream have decreasing owing to the fear of misconception that the consumption of ice cream might lead to contraction of COVID-19 as one can catch a cold. Additionally. The increasing disruption in the supply chain and the temporary shutdown of the ice cream parlors and restaurants owing to the stringent lockdown will hinder the demand of the market. However, the global ice cream market is predicted to bounce band by the end of 2021 while the increasing rate from 2022.
Ice Cream Market Segmentation:
Segmentation by Product:
- Impulse Ice Cream
- Artisanal Ice Cream
- Take Home Ice Cream
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
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