Ice-cream is among the largest supermarket food categories which are generating high revenue. The rise in income, along with an increase in demand for sweet dishes, drives the growth of ice- cream market. Free-from and innovative flavors are the major trends in the industry. Frozen category holds major market share in ice-cream market. Ice-cream demand will grow at a progressive rate in the developing nations as the emerging economies such as India, China and Brazil have a lot of growth opportunity. Increase demand for the lactose-free product and rising demand for innovative flavors contributed to the growth of Ice-cream market.
With an increasing demand for new innovative flavors, market players are constantly innovating to meet the changing tastes and demand of the consumers. The growth of this industry is driven by the availability of various flavored ice creams. As a result, the ice cream consumers pay higher prices, which in turn increases the revenue of this market. However, the health concerns and availability of the product in Seasonality associated with ice creams restrain the market growth. Companies are keeping themselves focused on product labeling and innovative flavors product helps to increase their revenue. Increase in massive demand for ice-creams labeled as a clean label and free-from soy, gluten, artificial colors, synthetic flavors, artificial preservatives and genetically modified ingredients in the recent years.
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Latest Industry Updates:
December 2017, Barry Callebaut signed the conglomerate agreement with Solo Gelato and aimed at new product ideas and innovative solutions
November 2017, Havmor Ice Cream Ltd has been fully acquired by South Korean major LOTTE Confectionery for INR 1,020 crore. Lotte will now expand its confectionary business in India to also include ice creams.
October 2017, Tetra Pak strengthens ice cream offering with acquisition of Big Drum Engineering GmbH, a leading supplier of filling machines for the industry.
June 2017, Swedish ice cream producer SIA Glass, has launched FizzyDizzy, a new range of innovative flavored ice cream products which creates trends with consumers’ tastes.
Key players in the global Ice-cream market are emphasizing to enhance their investment in product development in order to extend the product line. Also, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate the untapped market. Most of the industrial players are diversifying and augmenting their capacities based on strategic product positioning and target audience.
The ice cream market is highly fragmented, due to the presence of a number of large- and small-scale manufacturers. It has been observed that the introduction of lactose-free ice cream has further increased competition in this market. The key market players profiled in Ice-cream are Nestlé S.A. (Switzerland), Unilever (U.K.), Blue Bell Creameries (U.S.), General Mills, Inc. (U.S.), Mars, Incorporated (U.S.), Amul (India), Lotte Confectionery (South Korea), and Amy’s Ice Creams (U.S.).
The global ice-cream market has been divided into shape, type, distribution channel, and region.
On The Basis Of Shape: Sticks (bars), Buckets, Sundae, Floats, and Frozen Novelties
On The Basis Of Type: Regular and specialty (free-from)
On The Basis of Distribution channel: Hypermarkets and supermarkets, Convenience stores, Specialty stores, and Others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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The global Ice-cream market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Ice-cream market is highly dominated by Asia-Pacific followed by North-America due to owing to rise in demand from the emerging economies. Middle East & Africa is expected to grow at a high CAGR and will be contributing high revenue by 2022. In the Asia-Pacific region, Australia is the most attractive market for ice cream manufactures. Moreover, the rise in disposable income and the introduction of new flavors from the manufacturers boost the market growth.
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