Frozen Dessert Market Overview
The Global Frozen Dessert Market is expected to register 4.27% CAGR from 2019 to 2024 and reach USD 100.58 billion by the end of 2024. Frozen desserts are desserts made by freezing semi-solids, solids, and liquids. It can touch a significant valuation by catering to changing tastes of consumers as well as penchants for unique flavors. Furthermore, it can capitalize by being an alternative to ice creams. Innovations by dessert manufacturers in terms of taste, shelf life, flavors, and colors can bolster market demand successfully till the end of the forecast period.
The move by manufacturers by offering dairy-free desserts to consumers due to rise in lactose intolerance can bode well for the market. Further distinctions are being made by dividing them into different categories in order to reach a wider consumer demographic. The inclination towards health has led to manufacturers adhering to clean label policies for ensuring transparency. Furthermore, the inclusion of probiotics and prebiotics in these sweet offerings can spur the demand in the global Frozen Dessert Market till 2024.
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Frozen desserts are solids, semi-solids, or liquids made from vegetable oil fats. The sweet buds of consumers as well as the arid climate offer plenty opportunities for frozen dessert manufacturers. Innovations in flavors as well as varied packaging formats have been utilized to appeal to consumers. The global Frozen Dessert Market report by Market Research Future (MRFR) asserts a growth trajectory and outlines a list of trends, drivers, and drawbacks for backing up its hypothesis.
Industry News
Baskin Robbins launched dairy-free flavors for its vegan consumers who prefer to consume desserts which are derived from animal-free sources. Its two new flavors allow these customers to pursue their lifestyle without compromises.
Competition Outlook
Van’s International Foods, Inc. (US), General Mills, Inc. (US), Nestlé S.A. (Switzerland), China Mengniu Dairy Company Limited (China), Kellogg Company (US), Bassetts Ice Cream (US), Baskin Robbins LLC (US), Dairy Queen (US), Conagra Brands, Inc. (US), Danone S.A. (France), Ferrero SpA (Italy), Mother Dairy Fruit & Vegetable Pvt. Ltd. (India), London Dairy Co. Ltd. (UK), Anand Milk Union Limited (India), and Fonterra Group (New Zealand) are some of the key players in the global frozen dessert market.
Reinvention of existing flavors as well as collaborations with ingredient experts to introduce local flavors can augur favorably for the market in the coming years. For instance, Nekter Juice introduced four new flavors for its vegan customers and experienced high sales.
Market Segmentation
The global Frozen Dessert Market is segmented by product type, category, and distribution channel.
By Product Type, it is segmented into yogurt, ice-cream, cakes, and others.
By Category, it is segmented into sugar-free and conventional.
By Distribution Channel, it is segmented into store-based and non-store-based. The store-based segment consists specialty stores, supermarket & hypermarket, and others.
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Regional Analysis
North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW) are the regions discussed with respect to the market report.
North America is likely to dominate during the forecast timespan due to the large population and the high expendable income levels of consumers. Availability of the offerings in numerous flavors as well as inclusion of healthy ingredients to attract new demographics of consumers can lead to expansion of the global Frozen Dessert Market in the region. The U.S. continues to be the biggest revenue generator of the region with manufacturers offering vegan alternatives and healthy options in order to tackle the obesity rate in the country.
The APAC region is touted to exhibit a phenomenal CAGR over the forecast timespan due to the preference for frozen desserts and the increased purchasing power of consumers. High demand for family serving products enjoyed greater demand than single servings with manufacturers willing to introduce new flavors annually. Low-calorie desserts are likely to enjoy growth and sustain a steady demand till 2024.
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