Global Retail Ice-cream Market Size, By Type (Impulse, Artisanal, Take Home), By Application (Commercial, Household, Others), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), Trend Analysis, Market Competition Scenario & Future Outlook, 2017-2021.
- Published Date: October 2020
- Report ID: BWC20170
- Available Format: PDF
- Page: 178
Global Retail Ice-cream Market
Size - Industry Trends & Outlook Report 2027
Global Retail Ice-cream Market is estimated to be USD by 2027 from USD in 2020, at a CAGR of from 2021 to 2027. The retail ice cream industry comprises retail sales of classic ice creams and frozen novelties. Classic ice cream includes ice cream such as low fat and non-fat, take home, and wholesale ice creams. Frozen innovations include flavored ice, sorbet, and frozen yogurt. New product development and invention play a significant role as a development factor for the industry. Preserving price and quality, brand loyalty, and consumer group retention are the industry's biggest challenges due to many competitors in the market. Product innovation, economic development, rise in disposable income, and retail market extension are predictable to influence the ice cream market share. Product innovation will diversify the offerings and assist in meeting varying consumer demands, while economic growth will continue to surge the spending power of customers. The development is also projected because of increased disposable income, the introduction of new flavors from the manufacturers, and increased ingesting of ice cream as a snack option increases ice cream products.
Global Retail Ice-cream Market: Market Outlook and Trends
Ice cream is prepared by mixing and chilling a mixture of high-fat milk or cream, fructose- or glucose-based sweeteners, usually corn syrup, and additives such as vanilla and chocolate. During the commercial manufacture of ice cream, emulsifiers and stabilizers are added. Stabilizers aid in stopping the making of large crystals and lock in moisture, offering the desired creamy texture to the product. Manufacturers are offering innovative flavors and suitable packaging. The introduction of new and exciting flavors in ice creams is boosting the growth of the global market. Drifts such as cinnamon roll ice creams, gluten- and dairy-free ice creams, and chewy crepes instead of wafer cones are predictable to present chances to market players during the valuation period.
Global Retail Ice-cream Market
Product Innovation is leading the Ice Cream Market
Product novelty can make Ice cream a luxury product. The constituents added, texture, color, flavor, packaging, the equipment used, the conditions of the procurement and consumption, and all these funds to a superior product. Companies are regularly innovating their products to stay in the market. Children are the main customers of Ice cream. Thus, companies are producing products as per the children's attention.
Rapid urbanization has led to a growth in modern retail formats such as departmental stores, hypermarkets, supermarkets, and convenience stores donating in sales. Moreover, due to the elastic income nature of ice cream consumption, rising disposable incomes, and improving consumers' purchasing control escalate its per capita consumption in emerging regions like India and China.
Health consciousness and Innovation Driving the Sales
Rising health worries and the accessibility of substitute products like Yoghurt affected market sales. Due to increasing health, consumers are interested in Ice Cream made of Natural flavors and natural sweeteners, and handcrafted Ice Cream. The US is currently leading the way for launch activity in handmade ice creams, likely relating to the market’s size and maturity. These products can offer invention inspiration to other needs, specifically concerning sourcing ingredients from local farmers and using packaging as a distinguishing selling point that celebrates – and appeals to – a sense of individualism. Companies are proposing customers more “better for you” choices in smaller portion sizes and better constituents, counting vegetables, oats, soy, and dairy-free.
Impact of COVID-19 in industry
Due to the outbreak of Covid -19, Industry players say it was a washout year for them, and there are no chances of any retrieval this year. Ice cream ingesting has fallen between 60-80% in the country. Brands that are primarily reliant on the ice cream parlors to reach consumers are the most hit. Some retrieval was seen in the retail store section in June. However, ice cream consumed at home cannot make up for the lost market as 60-65% of ice cream in the nation is finished out of the house. Besides, 50-60% of the ice cream is consumed after 5 pm, which has been affected due to shops shutting down early. The ice cream industry's positive feature has been the inaugural up of the e-commerce channel and home delivery of ice cream.
Global Retail Ice-cream Market: Segmentation
Based on Type, the Global Retail Ice-cream Market is segmenting into Impulse, Artisanal, and Take Home. Consumers consider ice cream as a snack, and it is one of the leading causes of the rising ingesting of the take-home section. In 2016, the take-home segment accounted for the highest share, growing at a CAGR of 5.3% from 2017 to 2023. The growth is also projected because of augmented disposable income, the introduction of new flavors from the manufacturers, and augmented ice cream as a snack option increases the market for ice cream products.
Based on region, Asia-Pacific is predicted to witness the highest growth rate, owing to a rise in demand from emerging economies such as India, China, Indonesia, and others.
Global Retail Ice-cream Market: Regional Insights
Asia-Pacific is predictable to see the maximum growth rate due to the rise in request from developing economies such as India, China, Indonesia, and others. Moreover, increased disposable income and an increase in the standard of living boost the market's development. India and China are projected to see significant growth during the ice cream market forecast.
Australia is the most striking market for ice cream manufactures. The ice cream market in Australia is approximately 10% of the overall country's food industry. Hypermarkets & supermarkets were the second foremost distribution channel in Australia. However, hypermarkets & supermarkets are believed to be the fastest-growing distribution channel in the country. Sweden and the UK are the attractive markets for ice cream from the European region due to the rising regional demand.
The leading players in the Global Retail Ice-cream Market include Baskin & Robins, Amul, Nestle S.A, Mother Dairy Fruits & Vegetables Pvt Ltd, Turkey Hill, Dairy Queens, Creamstone, Blubell Creameries, Lotte Corporation, London Dairy, General Mills, and other prominent players.
· General Mills to broadcast presentation at 2020 Barclays Global Consumer Staples Conference on September 9, 2020
· Mother Dairy, a leading milk supplier in the Delhi/NCR, on June 09, 2020, introduced butterscotch flavored Haldi milk that will help boost the immunity of consumers.
· The group turnover of GCMMF and its constituent member unions, in July 2020, represented a consolidated turnover of all products sold under the Amul brand is exceeding Rs. 52,000 crores or USD 7.0 Billion. GCMMF aims to reach a group business turnover of Rs. 1 lakh crore by 2024-25.
Scope of the Report
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia .
By Type, By Application, By Region
The leading players considered for market analysis are Baskin & Robins, Amul, Nestle S.A, Mother Dairy Fruits & Vegetables Pvt Ltd, Turkey Hill, Dairy Queens, Creamstone, Blubell Creamries, Lotte Corporation, London Dairy, General Mills and many others.
· By Type
ü Take Home
· By Application
· By Region
ü North America
ü Asia Pacific
ü South America
ü Middle East & Africa
The objective of the Study:
• To analyze and forecast the Global Retail Ice-cream Market size market in terms of value.
• To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.
• The Global Retail Ice-cream Market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.
• To outline, categorized, and forecast the Global Retail Ice-cream Market based on By Type, By Application, and By Region.
• To examine competitive developments, like By Type, By Application, and By Region within the Global Retail Ice-cream Market.
• To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.
• To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Business Questions Answer by the Report:
• How will the market drivers, restraints, and opportunities affect the market dynamics?
• What will be the market size in terms of value and volume and market statistics with a detailed classification?
• Which segment dominates the market or region, and one will be the fastest growing, and why?
• A comprehensive survey of the competitive landscape and the market participant players
• Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client:
Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
• With five additional company detail analysis
• Additional country analysis
• Detailed segment analysis
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