The global frozen desserts market is witnessing substantial growth, projected to reach a valuation of US$ 176 billion by 2032, with a notable CAGR of 5.8% from 2022. Frozen desserts, encompassing a wide range of treats from ice creams to low-fat options, are gaining popularity worldwide due to various factors driving consumer demand and innovation in the industry.
Increasing demand for organic desserts due to various health benefits associated with them such as low-fat and low-sugar content is anticipated to drive the market in the forecast period. Rising number of supermarkets or hypermarkets across the globe is also set to push sales of frozen desserts as these stores provide discounts from time to time.
But, due to growing popularity of organic frozen desserts, several companies are aiming to broaden their product portfolios in this category. In May 2021, for instance, New York-based KIND Healthy Snacks (KIND) launched KIND FROZEN Pints, its new creamy, plant-based frozen treat range with 4-6g of protein per serving.
The demand for frozen desserts is being fueled by several key factors:
- Rising Disposable Income: Increasing disposable income levels worldwide are leading to impulse purchases of frozen desserts, driving market growth.
- Wide Range of Flavors: Introduction of new flavors and variety in frozen desserts is attracting consumers seeking diverse taste experiences.
- Climate Influence: Demand for frozen desserts like ice creams surges during hot weather, as consumers perceive them as cooling treats, boosting market demand.
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Key factors contributing to the growth of the frozen desserts market include:
- Health Consciousness: Growing health concerns are driving demand for low-fat, sugar-free, and gluten-free frozen desserts, prompting manufacturers to innovate healthier options.
- Global Expansion: Market expansion is propelled by increasing adoption of frozen desserts in emerging markets like India and China, driven by changing consumer preferences and rising disposable incomes.
- Product Innovation: Manufacturers are diversifying their product portfolios with organic and innovative ingredients, catering to evolving consumer tastes and preferences.
Key Takeaways: Frozen Desserts Market
- The global frozen desserts market is anticipated to reach a valuation of around US$ 100.1 Bn by 2022.
- By product type, the ice cream segment is anticipated to account for around 50% of the global frozen desserts market share over the forecast period.
- The U.S. frozen desserts market is expected to generate the lion’s share with rising demand for low-fat and healthy desserts.
- Sugar free frozen desserts to emerge as a lucrative category among consumers in the upcoming decade.
- The China frozen desserts market is set to exhibit steady growth on the back of surging number of ice cream parlors in the country.
“Rising demand for gluten free and low-fat desserts is set to augment growth in the frozen desserts market during the evaluation period,” says a Future Market Insights analyst.
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Competitive Landscape: Frozen Desserts Market
The frozen desserts market is highly fragmented with the presence of both domestic and international players such as Unilever, Nestle, and General Mills among others. Top players are focusing on entering emerging markets by expanding their product portfolios to meet the surging consumer demand for various types of desserts, including ice creams.
Some of the other players are competing on the basis of product offerings, taste, flavors, quality, price, packaging, size, functionality, and promotional activities to gain a competitive advantage in the frozen desserts market.
For instance,
- In April 2022, KLIMON, a dairy-free frozen dessert producer, launched 100% plant-based, almond-based, and dairy-free frozen dessert pints in 5 innovative flavors at select Walmart locations across the U.S.
- In January 2022, Mondelez International, Inc., an American food manufacturer, introduced its latest range of frozen treats under the Oreo brand. The new range includes Oreo tubs, sandwiches, cones, and bars.
Frozen Desserts Market Outlook by Category
By Product Type:
- Ice Cream
- Frozen Yogurt
- Frozen Cake
- Other Product Type
By Category:
- Conventional
- Sugar Free
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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