SAN FRANCISCO , March 22, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Frozen Desserts – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 17; Published: February 2022
Executive Pool: 13572
Companies: 1246 – Covered players include 16 grips; Bassett ice cream; Bulla dairy products; China Mengniu Dairy Company Ltd.; Dairy Farmers of America Inc.; Dairy Queen; Fonterra Co-operative Group Ltd.; General Mills, Inc.; Kellogg Company; Meiji Holdings Company, Ltd. ; Nestlé SA; Unilever plc; Yili Group and others.
Blanket: All major geographies and key segments
segments: Type (ice cream, confectionery and candies, frozen yogurt, other types); Distribution channel (supermarket/hypermarket, cafes and bakeries, online, convenience stores, other distribution channels)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global frozen dessert market to reach $111.2 billion by 2026
The expansion of the frozen desserts market is likely to be positively influenced by increasing disposable incomes as well as the introduction of innovative products. Sales in emerging markets are expected to gain momentum in the coming years due to changing eating habits and rapid urbanization. Products with desirable qualities including low fat, cholesterol, sugar, and calorie content are poised to record robust growth and support market expansion. Frozen dessert brands are paying great attention to new taste and flavor profiles for a delicious consumer experience. Ice cream and frozen desserts with new flavors and offered as limited-time offers are rapidly evolving and catching the attention of the millennial consumer. Regardless of consumer demographics, flavor continues to stay at the forefront, displacing other aspects such as ingredients, texture, sugar or fat content, and protein. Ruby chocolate is expected to retain its popularity for years to come. The decline in chocolate cocoa crops is expected to increase the demand for carob, an alternative to chocolate. With guilt-free enjoyment a major trend, frozen dessert makers are launching new products with simple, premium ingredients in convenient, single-serve formats.
Amid COVID-19 Crisis, Global Frozen Desserts Market Estimated at US$91.5 billion in 2022, is expected to reach a revised size of US$111.2 billion by 2026, growing at a CAGR of 4.9% over the analysis period. Ice cream, one of the segments analyzed in the report, is expected to register a CAGR of 5.2% and reach US$67.2 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the economic crisis it induces, the growth of the Confectionery and Candy segment is readjusted to a revised CAGR of 4.6% for the next 7-year period.
The US market is estimated at $30.1 billion in 2022, when China is expected to reach $17.4 billion by 2026
The frozen dessert market in the United States is estimated at US$30.1 billion in the year 2022. Chinathe second largest economy in the world, is expected to reach a projected market size of US$17.4 billion by 2026 at a CAGR of 7% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 3.7% and 4% respectively over the analysis period. In Europe, Germany is expected to grow at around 3.8% CAGR. Sales in emerging markets are expected to gain momentum in the coming years thanks to changing eating habits and rapid urbanization. Products with desirable qualities including low fat, cholesterol, sugar, and calorie content are poised to record robust growth and support market expansion. Innovative product positioning coupled with creative advertising and attractive packaging will open up new revenue generation opportunities for market players.
Frozen yogurt segment to reach $10.8 billion by 2026
In the global Frozen Yogurt segment, United States, Canada, Japan, China and Europe will drive the CAGR of 5.1% estimated for this segment. These regional markets representing a combined market size of US$6.5 billion will reach a projected size of US$9.3 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$760.3 million by 2026, while Latin America will grow at a CAGR of 6.8% over the analysis period.
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