Frozen Dessert Market to Grow with a CAGR of 4.4% Globally through 2028
Increasing
popularity of premium and artisanal frozen desserts and growing demand for
functional frozen desserts are factors driving the global frozen dessert market
in the forecast period 2024-2028.
According to
TechSci Research report, “Global Frozen Dessert Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the global
Frozen Dessert market stood at USD92.67
billion in 2022 and is anticipated to grow with a CAGR of 4.4% in the forecast
period, 2024-2028. The global frozen dessert market is a thriving and diverse
industry experiencing continual growth and transformation. Consumer preferences
for healthier options, unique flavors, and sustainable choices have spurred
innovation. Reduced-sugar, dairy-free, and functional ingredient offerings
cater to health-conscious consumers, while unique flavor profiles and
international influences captivate taste buds. Specialty stores and artisanal
producers offer premium, handcrafted options, while sustainability practices
gain prominence. The Asia Pacific region emerges as a dominant force in this
market, driven by changing dietary habits and a penchant for indulgent frozen
treats. Overall, the global frozen dessert industry is characterized by its
adaptability and commitment to satisfying a wide range of consumer desires.
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One of the most
prominent trends shaping the global frozen dessert market is the increasing
emphasis on health and wellness. In an era where consumers are more
health-conscious than ever, frozen dessert manufacturers have had to pivot to
cater to these evolving preferences. This shift is evident in the rise of
healthier alternatives to traditional ice creams. Low-fat frozen yogurts,
reduced-sugar ice creams, and dairy-free options have gained substantial
popularity, offering consumers a guilt-free indulgence without compromising on
taste and texture. Moreover, functional ingredients such as probiotics,
antioxidants, and superfoods have found their way into frozen desserts,
enhancing their nutritional profiles and appealing to a broader spectrum of health-conscious
consumers.
Another
noteworthy trend in the global frozen dessert market is the increasing focus on
sustainability and environmental concerns. As more individuals become
environmentally aware, they are demanding that the products they consume align
with their values. This has put pressure on frozen dessert manufacturers to
adopt sustainable practices. From recyclable and biodegradable packaging
materials to reducing water usage during production, companies are making
concerted efforts to minimize their environmental footprint. Some are even
actively working to reduce food waste by repurposing surplus ingredients into
innovative frozen dessert flavors. Sustainability has not only become a selling
point for brands but also a critical factor in the decision-making process of
environmentally conscious consumers.
Flavor
innovation is a driving force in the global frozen dessert market. Consumers
are no longer satisfied with the ordinary; they seek unique and exotic flavors
that tantalize their taste buds. Traditional flavors like chocolate and
vanilla, while still beloved, now share the spotlight with an array of
unconventional and globally inspired combinations. Matcha green tea gelato,
lavender honey ice cream, and chili-infused dark chocolate sorbet are just a
few examples of the innovative flavor profiles captivating consumers worldwide.
This trend allows manufacturers to differentiate themselves in a crowded
market, appealing to adventurous palates and cultural influences.
E-commerce and
the convenience it offer have revolutionized how consumers access frozen
desserts. Online shopping has made it incredibly convenient for customers to
explore a wide variety of frozen dessert options and have them delivered right
to their doorstep. This trend surged during the COVID-19 pandemic when more
people turned to online shopping for their dessert cravings. Subscription-based
models and curated dessert boxes have also gained traction, providing consumers
with the opportunity to discover new brands and flavors regularly.
Additionally, the rise of direct-to-consumer sales through online platforms has
become advantageous for both small artisanal producers and large-scale
manufacturers. As a result, the e-commerce boom has changed the way frozen
desserts are marketed, packaged for shipping, and transported to consumers.
The global frozen
dessert market is segmented into product, sales channel, regional distribution,
and company.
Based on product
the market is divided into confectionary & candies, ice cream, frozen
yogurt, cakes & pastries, and others.
Frozen yogurt is
the fastest-growing segment in the global frozen dessert market. Its rise can
be attributed to several factors, including its perception as a healthier
alternative to traditional ice cream, due to lower fat content and probiotic
benefits. Consumers seeking guilt-free indulgence are driving demand for
low-fat and dairy-free frozen yogurt options. Furthermore, the self-serve model
in many frozen yogurt shops offers an interactive and customizable experience,
appealing to a wide range of customers. As health-consciousness continues to
grow, frozen yogurt's versatility and adaptability make it a standout in the
ever-evolving frozen dessert landscape.
Based on sales
channel the market is divided into hypermarkets/supermarkets, departmental
stores, online, specialty stores, and others (direct sales, etc.).
Based on region the market is segmented into five regions
Asia Pacific, North America, Europe, Middle East & Africa, and South
America.
Major companies
operating in Global Frozen Dessert Market are:
- Unilever PLC
- General Mills
Inc.
- Meiji Holdings
Co. Ltd
- Nestlé S.A.
- Inner Mongolia Yili Industrial Group Co. Ltd
- Dunkin' Brands Group Inc.
- Bulla Dairy Foods
- Dairy Farmers of America
- Yasso Inc.
- Fonterra Co-operative Group Limited
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“The global
frozen dessert market is experiencing a dynamic transformation shaped by
evolving consumer preferences and industry trends. Health-conscious choices are
driving demand for reduced-sugar, dairy-free, and functional ingredient
options. Unique flavor exploration captivates taste buds with innovative
combinations and global influences. Specialty stores are thriving, offering
artisanal and premium frozen desserts. Sustainability and ethical sourcing are
gaining importance, aligning with consumers' eco-conscious values. Plant-based
alternatives are on the rise, catering to vegan and lactose-intolerant
consumers. In the Asia Pacific region, frozen desserts are flourishing, driven
by changing dietary habits and a growing preference for indulgent treats. Overall,
the frozen dessert landscape is marked by diversity, innovation, and a
commitment to meeting the ever-evolving demands of consumers worldwide.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Frozen Dessert Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, Segmented By Product
(Confectionary & Candies, Ice Cream, Frozen Yogurt, Cakes & pastries,
Others), By Sales Channel (Hypermarkets/Supermarkets, Departmental Stores,
Online, Specialty Stores, and Others (Direct Sales, etc.)), By Region,
Competition”, has evaluated the future growth potential of global frozen
dessert market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global frozen dessert market.
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