Future Market Insights (FMI) has predicted the ice cream processing equipment sales to grow at over 3.7% CAGR in the next ten years, reaching a market valuation of US$ 2.1 Bn through 2021 & beyond.
Following the outbreak of COVID-19, the market registered year-on-year (YoY) growth at 3.5% CAGR during 2020-21.
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Relaxation of stringent restrictions imposed during the pandemic has helped in the gradual recovery of the food sector. This is expected to bode well for the global market.
During the FQ-20, surging demand from consumers for packaged ice cream and desserts has helped the market to sustain growth. In the following years, growth will continue on account of the increasing demand for low-fat and organic ice cream.
Backed by this, the market is expected to reach a shipment of 56,000 units during the forecast period.
Key Takeaways from FMI’s Ice cream Processing Equipment Market Study
- In terms of product type, the hard ice cream processing equipment segment is expected to lead the market
- The continuous freezers segment is expected to be the largest segment, expanding at 4.8% CAGR during the forecast period
- Molding equipment is expected to register the fastest growth based on equipment type, followed by the extrusion equipment
- India is expected to witness high growth owing to the increasing demand for natural and organic flavored ice cream
- China is expected to be one of the most lucrative countries in East Asia for the ice cream processing equipment market
- The U.S. is anticipated to retain its dominance, registering steady growth at over 3.6% CAGR during the forecast period
- Italy and Germany are identified as key producers and will spearhead the growth of Europe’s ice cream processing equipment market
- South Korea and Japan, collectively, are expected to register growth at 4% CAGR in 2021
“Increasing consumption of ice cream, technological advancements and growing urbanization in developing economies including India and China are expected to create lucrative growth opportunities in Asian countries,” says the FMI analyst.
The global ice cream processing equipment market is highly fragmented owing to the presence of numerous local and established players.
Future Market Insights has identified some key players in the market such as ROKK Processing Ltd, Tetra Pak Processing Equipment GmbH, Gram Equipment A/S, CARPIGIANI GROUP, Guangzhou Guangshen Electric Produce Co., Ltd, and Nanjing Puyuan Ice Cream Machinery Manufacturing Co., Ltd among others.
Leading players in the market are establishing new plants and introducing new products to gain a competitive edge in the industry. Forming alliances with key companies and local players is another strategy adopted by key manufacturers to sustain their position.
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For instance, in June 2021, ice cream producer Dreyer’s Grand Ice Cream announced the expansion of its two production lines for Drumstick Products. The company announced the investment of US$ 145 million of its new plant in Indiana, U.S.
Also, according to Future Market Insights, Tetra Pak is one of the leading players dominating the ice cream processing equipment market. Tetra Pak specializes in complete solutions for processing, packaging, and distributing food products, especially popular for ice cream and cheese products.
A few years back Tetra Pak launched a high-capacity extrusion line most efficient solution for the large-scale production of ice cream sticks and sandwiches. This company has the most and highest efficient continuous freezer and high precision cutting equipment that guarantees a uniform product with high stability and effective temperature control at every stage, perfecting the product thickness.
As per FMI, currently, Tetra Pak holds the majority of the ice cream processing equipment market share of over 7% and is dominating the global market.
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Ice Cream Processing Equipment Market by Category
By Equipment Type:
- Mixing Equipment
- Continuous Freezers
- Filling Freezers
- Extrusion Equipment
- Molding Equipment
By Product Type:
- Soft Ice Cream Processing Equipment
- Hard Ice Cream Processing Equipment
- Greater China
- Europe & Central Asia
- southeast Asia & Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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