Market Scenario
Market Research Future (MRFR) looked at the ice cream market in 2020 and projected it out to 2022. According to MRFR, the ice cream market can grow at a reasonable CAGR to generate significant revenue by 2022. The impact evaluation of COVID 19 on the ice cream market is detailed in the paper.
One of the primary variables that can drive the ice cream market is the growing enthusiasm for creamy treats around the world. The availability of advanced manufacturing technology-driven ice cream churning and chilling equipment can help boost the market growth. The availability of many types of ice creams, as well as the growing popularity of lactose-free ice cream, provide the industry with a boost. Furthermore, the growing popularity of ice creams in a variety of flavors among many consumers may help to propel the global ice cream market forward during the assessment period. The growing dairy business may have a substantial impact on the ice cream market.
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The region's manufacturers provide innovative ice cream flavors in convenient packaging that is recognized to improve consumer convenience. Emerging trends such as gluten- and dairy-free ice creams, cinnamon roll ice creams, and chewy crepes instead of wafer cones are predicted to boost the ice cream market's growth over the assessment period.
Key Players
General Mills, Inc. (US), Blue Bell Creameries (US), Mars, Inc. (the US), Lotte Confectionery Co., Ltd (South Korea), Amul (India), Unilever (UK), Nestlé (Switzerland), and Amy’s Ice Cream (US) are some reputed names in the global ice-cream market that are listed by MRFR. New entrants and improvisations in systems of existing ice producers can work in favor of the market. In addition, technology such as IoT is being deployed for better manufacturing. Thus, the tie-up of enterprises with renowned tech companies can also improve the market rise.
Market Segmentation
The segment assessment of the global ice-cream market is done by claim, type, and distribution channel.
The type-based segments of the global ice cream market are buckets/tubs, bars, and floats among others. The increase in sales of buckets or tubs can impact the rise of the market in the years to come. The ease of consumption of floats can promote the expansion of the market in the years to come.
The claim base segments of the ice cream market are low-fat, lactose-free, and low-calorie among others. The lactose-free segment can expand at a high CAGR by 2022.
The distribution channel-based segments of the global ice-cream market are non-store-based and store-based. Supermarkets, convenience stores, hypermarkets, and specialty stores among others are store-based sub-segments of the ice cream market. The non-store segment can win high profits for the market.
Regional Analysis
The ice cream market's trends and factors are examined for regional progress around the world. The ice-cream market is examined in North America, Asia-Pacific, Europe, and the Rest of the World. Due to increased ice cream consumption, the ice cream market in North America earns a large revenue over the study period. Furthermore, the availability of fortified ice-cream products with nutrient content appears to be gaining popularity. This could help to expand the area market. The APAC ice cream industry has the potential to grow due to the growing demand for creamy treats. Furthermore, APAC is known for its festive culture, and the increase in ice cream consumption as a dessert during these festivals can help drive regional market growth soon.
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