Dairy Desserts Market Scenario
Dairy Desserts Market is expected to garner a revenue of USD 1.5 billion by 2024 with 2.9% CAGR during the forecast period of 2019–2024, according to the latest research report from Market Research Future (MRFR). The report presents a detailed analysis of the global dairy desserts market by providing readers with a comprehensive overview of the market’s historical trajectory. The leading drivers and restraints affecting the global dairy desserts market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the global dairy desserts market are also studied in the report and projections are made for the growth trajectory of each distinct component.
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The global market is mainly driven by the longstanding popularity of ice cream, which are the most recognizable type of dairy dessert. Ice creams are popular all over the world, due to their agreeable flavour and consistency, and are likely to lead the charge for the dairy desserts market over the forecast period. The growing preference for ice creams is also driven by the increasing disposable income of consumers, which has resulted in an increasing expenditure on luxury foods such as ice cream. Increasing innovation in the ice cream sector to introduce new flavors is also likely to be a major driver for the dairy dessert market over the forecast period. Many ice cream makers are introducing all-natural flavors to their range in order to attract a wider range of customers. This is likely to be a major driver for the dairy dessert market over the forecast period.
On the other hand, the increasing demand for dairy-free desserts is likely to be the key restraint against the global dairy desserts market over the forecast period. The increasing awareness about the presence of fats in dairy products is likely to drive more consumers away from dairy desserts and towards dairy-free substitutes in the coming years, as fats are recognized to be bad for the health of the consumer. Many new players are introducing dairy-free versions of ice creams and yogurts in order to cater to this growing consumer demographic. This is likely to be a key restraint against the global dairy desserts market over the forecast period.
Leading players in the global dairy desserts market include Dean Foods Company, Parmalat SpA, Royal FrieslandCampina NV, Unipex Dairy Products Co. Ltd. PO, Danone SA, The Whitewave Foods Company, Grupo Leche Pascual SA, Nestle SA, Lactalis International, Parag Milk Foods Ltd., Baskin-Robbins, Mother Dairy Fruit & Vegetable Pvt. Ltd., Gujarat Cooperative Milk Marketing Federation Ltd. (Amul), Britannia Industries Limited, and Arla Foods amba.
The global dairy desserts market is segmented based on type, distribution channel, and region.
By Type, is segmented into ice creams, yogurt, custard, and others. The ice cream segment holds the largest share in the global dairy dessert market and is likely to exhibit the highest growth rate over the forecast period. The yogurt segment is also likely to remain important for the global dairy desserts market over the forecast period.
By distribution channel is segmented into store-based and non-store-based. Due to the need for refrigeration, store-based channels are likely to dominate the global dairy desserts market over the forecast period.
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Europe accounts for the largest share in the global dairy desserts market due to the longstanding popularity of ice creams, yogurts, and custards in the region. Asia Pacific is also likely to be an important regional market for dairy desserts over the forecast period due to the increasing demand for ice cream and other dairy desserts in countries such as India, China, Japan, and South Korea. The increasing indigenous dairy desserts industry in Asia Pacific is also a major reason for the regional market’s growth over the forecast period.
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