The global ice-cream market size is anticipated to showcase eminent growth owing to the constant product innovation from major players, observes Fortune Business Insights™ in its report, titled, “Ice-cream Market Size, Share & Industry Analysis, By Type (Impulse Ice-cream and Take Home), Flavor (Vanilla, Chocolate, Fruit, and Others), Packaging (Cup, Cone, Stick, Brick, Tub, and Others), Distribution Channel (Hypermarket/Supermarket, Ice-cream Parlor, Online Retailer, and Others), and Regional Forecast, 2020-2027.” The market size reached USD 70.85 billion in 2019 and is anticipated to reach USD 91.90 billion by 2027, exhibiting a CAGR of 4.01% during the forecast period.
A List of Key Manufacturers Operating in the Market:
- Nestle S.A. (Vevey, Switzerland)
- Unilever Group (London, United Kingdom)
- General Mills (Minnesota, United States)
- Dunkin Brands (Canton, United States)
- Blue Bell Creameries (Texas, United States)
- Dairy Queen (Edina, United States)
- Cold Stone Creamery (Arizona, United States)
- Amul (Gujarat, India)
- Ben & Jerry (Vermont, United States)
- Dairy Farmers of America, Inc. (Kansas, United States)
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REPORT COVERAGE:
While making
the report, we segmented the market on the basis of product, type, consumption,
distribution channel, and region. Based on the segmentation, we made a list of
companies and conducted a detailed analysis of their financial positions,
product portfolios, and growth strategies. Our next step included the study of
core competencies of key players and their market share to anticipate the
degree of competition. The bottom-up procedure was conducted to arrive at the
overall size of the market.
DRIVERS & RESTRAINTS-
Increasing Use of Functional Ingredients in
Products to Drive Growth
Prominent
enterprises are expanding their resources in research and development
activities to offer ice-cream options that include healthy and functional
ingredients for optimum nutrition. This is due to the increasing health
awareness among consumers globally. This trend is estimated to drive the
ice-cream market growth. In addition, the increasing adoption of premiumized
ice-creams made from rich ingredients is anticipated to further enhance growth.
However, the seasonal nature of the primary product is projected to hinder
growth during the forecast period.
Click Here to Read a Detailed Summary of This
Report:
COVID-19 IMPACT-
Traveling Restrictions to Have Adverse Impact
on Businesses amid COVID-19
The COVID-19
pandemic has had a drastic impact on the global economy. Nationwide lockdowns
and traveling restrictions have disrupted the global supply chain, negatively
impacting businesses across the globe. Countries across the world are
constantly working on addressing the challenges that have arisen during the
crisis. At Fortune Business Insights, we are constantly analyzing these
challenges in order to provide feasible solutions.
REGIONAL INSIGHTS-
Rapid Urbanization to Help Asia Pacific Gain
Prominence
Asia Pacific
is estimated to dominate the global ice-cream market with a market value of USD 15.43 billion in 2019. The
increasing disposable income and rapid urbanization in major countries
including China, India, and Japan are estimated to drive the growth in the
region. In addition, the rising popularity of fast food in the region is
estimated to enhance the demand in Asia Pacific.
The market
in North America is projected to exhibit significant growth in the forecast
timeline. A wide range of fast-food chains, coupled with the increasing demand
for natural products is set to further propel the need for ice-creams in the
region.
COMPETITIVE LANDSCAPE-
Introduction of New Products to Aid Key
Players Expand their Product Lines
The global
ice-cream industry comprises various producers and multinational corporations
contributing to the development of the industry. Key players are focusing on
innovative product launches in order to expand their businesses, as well as
their product portfolios. For Instance, in January 2021, Unilever Group
announced the launch of a double red velvet variant under its Magnum brand. This
helped the company expand its product line.
INDUSTRY DEVELOPMENTS-
- October 2020: Amul announced the launch of a new camel
milk ice cream. The product is made from 100 percent camel milk, and it is said
to be good for health-conscious consumers as it contains less fat than cow
milk.
- July 2020: Mother Dairy, one of the leading dairy players in India, introduced a brand
named Rocket, with two exciting flavors of French Vanilla and Belgian
Chocolate.
- June 2020: Dairy Day launched Dairy Day Plus — a range of ice-creams with immunity-boosting ingredients.
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