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Frozen Dessert Market To Hit Value $135.0 Billion By 2025 | Grand View Research, Inc.

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Frozen Dessert Market To Hit Value $135.0 Billion By 2025 | Grand View Research, Inc.

March 22
17:31 2020
Frozen Dessert Market To Hit Value $135.0 Billion By 2025 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global frozen dessert market size was valued at USD 93.7 billion in 2018 and is expected to expand at a CAGR of 5.4% over the forecast period. Increasing demand for frozen dessert products across the globe owing to change in consumer tastes and health consciousness is one of the major reasons for the market growth.

The global frozen dessert market size is expected to reach USD 135.0 billion by 2025, expanding at a CAGR of 5.4%, according to a new report by Grand View Research, Inc. Increasing demand for frozen dessert products across the globe, rising disposable income, growing trend of consuming frozen desserts after meal as an effective digestive product, and climate change are the key factors for industry growth.

These desserts are mainly made up of milk compounds, vegetable fats, along with a mixture of flavors and dry fruits. Rising awareness regarding health benefits of these products is also driving the market. Climate change is another factor likely to create high demand for desserts such as ice cream and yogurt on a global scale. It is estimated that the demand for ice-creams alone can easily go up to 50% in hot day and drop 20% if the weather is bad. Customers believe that they eat ice creams just to cool down their body temperature in hot climate, thereby fueling the growth of the market.

Frozen desserts are mainly made up of milk compounds, vegetable fats, along with a mixture of flavors and dry fruits. Growing trend of consuming frozen dessert after meal as an effective digestive product is boosting the growth of the dessert market. Climate change is another factor likely to create high demand for frozen desserts such as ice cream and frozen yogurt on a global scale. It is estimated that the demand for ice creams alone can easily go up to 50% in hot day and drop 20% if the weather is bad. Customers believe that they eat ice creams just to cool down their body temperature in hot climate, thereby fueling the growth of the market. 

Some of the key players in this market are Nestle, Unilever, General Mills, Van’s Foods, and Kellogg Company. Other prominent players are China Mengniu Dairy, Handles, Bassetts Ice cream, and Dairy Queen. High to moderate entry barriers, as a result of presence of various brands and rapid innovation in the product line, are anticipated to assert high competition among major manufacturers.

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https://www.grandviewresearch.com/industry-analysis/frozen-dessert-market/request/rs4

https://www.grandviewresearch.com/static/img/research/us-frozen-desserts-market-size.png

 

Considering this, the United States Department of Agriculture (USDA) initiated several projects to promote the consumption of yogurt and related products across the region. Low-fat yogurt is a great source of calcium and is increasingly promoted by the organization for health and nutrition. Asia Pacific is expected to emerge as the fastest growing regional market in the forecast period. Growing urban population, changing lifestyle, rising disposable income, and changing weather conditions are some of the major factors driving the market in this region.

Further key findings from the study suggest:

  • By product, frozen yogurt is projected to expand at a CAGR of 6.8% over the forecast period
  • Based on distribution channel, the supermarket/hypermarket segment held a revenue share of 43.1% in 2018
  • U.S., Italy, Germany, Japan, India, Brazil, and South Africa for frozen desserts market are the major countries which holds the largest share in their respective regions.

Increasing health concerns among people is hampering the growth of this market. Majority of the consumers prefer low-calorie options, vegan alternatives, and dairy-free products as a healthier option, hence affecting the market growth. As per the WHO, more than 400 million people in world are living with diabetes, which will increase to more than 600 million people in the next 2 decades. Increasing number of diabetic patients has put extreme pressure on the dessert industry to develop sugar free products suitable for the concerned class of consumers.

Moreover, various companies are looking to expand their product portfolio in this segment due to increasing popularity of frozen dessert in the market. For instance, Coca-Cola, a carbonated beverage giant, expanded its business with the introduction of frozen desserts in India. The company also announced that it will invest ₹ 11,000 crore in creating an agriculture-focused ecosystem and food processing units and sourcing that will help it to introduce a variety of fruit based products and desserts in the market.

Have some specific queries about this report, our team of analyst will be glad to help!

The global frozen dessert market size was valued at USD 93.7 billion in 2018 and is expected to expand at a CAGR of 5.4% over the forecast period. Increasing demand for frozen dessert products across the globe owing to change in consumer tastes and health consciousness is one of the major reasons for the market growth. Moreover, increasing disposable income, along with introduction of various products in the dessert segment to cater to the choices of vast group of consumers, is driving the market.

On the basis of distribution channel, the market has been segmented into supermarket/hypermarket, convenience stores, café and bakery shops, and online. The supermarket/hypermarket segment held the largest market share in 2018. It is expected to emerge as the fastest growing segment over the forecast period owing to purchase of frozen desserts, along with the daily grocery items, which is attributed to steadily increasing demand for desserts in daily food element.

https://www.grandviewresearch.com/static/img/research/global-frozen-desserts-market.png

Growing trend of purchasing of products from specialized stores has resulted in opening of various cafes and bakery shops for frozen dessert products. Recent trends have compelled them to adapt nutritious desserts in their menus, which has further enhanced their product offerings. Moreover, a number of online delivery partners are coming up with innovative solutions to deliver frozen desserts at respective locations as fresh as their source points. This has resulted in an increase in the online buying of frozen desserts.

Access complete  Frozen Dessert Report Portfolio By Grand View research, Inc.

By product, the market is divided as confectionary and candies, ice cream, and frozen yogurt. Ice cream is one of the major products in this market and the segment accounted for the largest market share of 58.1% in the year 2018. Demand for ice cream is increasing on a large scale due to its growing popularity among all generations.

Various other factors fueling the growth of ice creams are flavors, shape, fat contents, along with texture and sweetness. Sugar free ice creams, along with hand crafted ones, are gaining huge popularity due to their health benefits. While taste and nutrition are important to the consumers of ice cream, the price, brand, and ambience play an important role for this market. According to a survey, 36% of Brazilians reportedly buy cheaper ice creams and hence they prefer private label ice creams.

Grand View Research has segmented the global frozen desserts market on the basis of product, distribution channel:

Frozen Desserts Product Outlook (Revenue, USD Billion, 2015 – 2025)

  • Confectionary & Candies
  • Ice Cream
  • Frozen Yogurt
  • Others

Frozen Desserts Distribution Channel Outlook (Revenue, USD Billion, 2015 – 2025)

  • Supermarket/Hypermarket
  • Convenience Stores
  • Cafes & Bakery Shops
  • Online
  • Others

Frozen yogurt is anticipated to witness the fastest growth over the forecast period owing to several health benefits associated with the product.It is a frozen dessert made with yogurt and sometimes other dairy and non-dairy products. Frozen yogurt often competes with ice cream, and is typically considered to be a healthier alternative. This is compelling the consumers to switch from ice cream to frozen yogurt, thereby making it the fastest growing product.

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Increasing demand for organic products due to health benefits such as low fat content and low sugar concentration is increasing competition among various players in the market. Due to a relatively fragmented competitive landscape, innovation and new product development are of key importance in order to retain the interest of consumers.As a result, the key players are continuously introducing various new products at the end of the review period. For instance,U.S.-based low-calorie ice cream brand Halo Top played a key role in the explosion of craft ice creams in the market, which is subsequently influencing the market growth of big giants such as Unilever and General Mills.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

 

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Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Website: https://www.grandviewresearch.com/industry-analysis/frozen-dessert-market

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