Ice Cream Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024
Global Ice Cream Market: About this market
Technavio’s ice cream market analysis considers sales from impulse, take-home, and artisanal products. Our study also finds the sales of ice cream in APAC, Europe, MEA, North America, and South America. In 2019, the impulse segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing demand for small portion snacks and desserts will play a significant role in the impulse segment to maintain its market position. Also, our global ice cream market report looks at factors such as product launches, increasing mergers and acquisitions, and product innovations. However, product recalls, increasing prevalence of obesity and related diseases among consumers, and the rising number of lactose-intolerant people globally may hamper the growth of the ice cream industry over the forecast period.
Global Ice Cream Market: Overview
Vendors are introducing new ice cream products in unusual flavors to attract more consumers, improve their revenue flow, and increase their market shares. For instance, Unilever launched new ice cream tubs under the brand name, Magnum and claims that this new product features a milk chocolate shell made with Belgian chocolate and is available in four different flavors. Similarly, BuzzFeed Inc. launched new ice cream products under the brand name, Tasty. Moreover, mergers and acquisitions, which enable vendors to formulate new products and avail technologies at reasonable costs. Thus, the launch of new products under varied brands will lead to the expansion of the global ice cream market at a CAGR of almost 5% during the forecast period.
Increasing popularity of plant-based ice creams
Plant-based food products are gaining popularity among health-conscious consumers. This kind of diet has numerous benefits, as it provides more antioxidants and beneficial compounds than animal-based diets. Plant-based diets are also rich in folate, magnesium, potassium, vitamin A, vitamin C, and vitamin E. It also helps in lowering the risk of cardiovascular diseases and other metabolic disorders. The vendors in the market are also producing new plant-based ice creams to meet the rising demand from consumers. The growing number of vegans globally and the launch of new plant-based ice-creams will aid in increasing the demand for plant-based ice creams during the forecast period.
For the detailed list of factors that will drive the global ice cream market during the forecast period 2020-2024, click here.
With the presence of several major players, the global ice cream market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading ice cream manufacturers, that include Agropur Co-operative, Blue Bell Creameries LP, Dunkin' Brands Group Inc., Froneri Ltd., Gujarat Cooperative Milk Marketing Federation Ltd., Mars Inc., Nestlé SA, New Forest Ice Cream Ltd., Unilever Group, and Wells Enterprises Inc.
Also, the ice cream market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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