The global ice cream market is anticipated to reach USD 78.8 billion by 2025, growing at a CAGR 4.1%, according to a new report by Grand View Research, Inc. The growing demand for premium products especially in developed regions such as North America and Europe is expected to drive the ice creams sales in these regions. The major growth is expected to come from developing regions such as Asia Pacific, Latin America, and MEA. Countries such as India and China have a large consumer base which is expected to drive the sales in terms of both volume and value. However, a growing number of health-conscious consumers is expected to limit market growth over the forecast period.
The
demand for lactose-free is also expected to contribute to market growth during
the forecast period. The increase in demand for lactose-free ice creams is
driven by an increase in cases of food intolerances and allergies. Thus, the
consumers having lactose intolerance pick lactose-free ice creams. Also, these
products are opted by consumers who are health conscious and prefer healthy
foods.
Companies
are introducing many new and innovative flavors in the ice cream segment to
increase their revenue. For instance, in 2017, Ben & Jerry's introduced
three new flavors in summer to increase their sale. The introduction of new
flavors and formats is also expected to contribute significantly to the growing
sales across the globe.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/ice-cream-market
Further Key
Findings From the Study Suggest:
- The impulse
segment has outgrown the take-home segment in 2016 and is expected to
dominate the market during the forecast period. The ice cream is likely to
remain an impulse purchase as manufacturers in the developing regions have
failed to lure consumers with their bulk products. Manufacturers are
expected to extend their impulse product portfolio during the forecast
period.
- The ice cream
market is dominated by various countries which include China, the U.S.,
Japan, Brazil, Italy, and Germany. Asia Pacific held the largest market
share in 2016 and is expected to dominate the market over the forecast
period. Growth is shifting towards emerging countries such as China,
India, Brazil, Indonesia, Vietnam, and South Africa, and developed regions
such as North America and Europe are expected to show slow growth during
the forecast period.
- Some of the
key players in the ice cream market are Unilever Group, Nestle S.A.,
General Mills, Inc., Mars, Blue Bell Creameries. There are numerous small
and mid-size players which also contribute significantly to retail sales.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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