Industry Background:
The worldwide ice cream market is being boosted by rising demand for ice cream in developing nations, insufficient raw material supply, and flexible ice cream availability. Ice cream comes in a variety of coatings and flavors, which is driving the business. The market may experience growing challenges as obesity-related diseases become more prevalent around the world. The increased popularity of soft-serve ice cream and lactose-free ice cream among millennials is also contributing to industry expansion.
According to AMA Research, the market for Ice Cream is expected to register a CAGR of 13.5% during the forecast period to 2030. This growth is primarily driven by Availability of Various Flavor in Ice-cream
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Unilever Group (United Kingdom), Nestlé S.A. (Switzerland), General Mills, Inc. (United States), Mars, Incorporated (United States), Blue Bell Creameries (United States), Lotte Confectionery (South Korea), Wells Enterprises, Inc. (United States), Turkey Hill Dairy (United States) and Meiji Holdings Company, Ltd. (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2019, Wells Enterprises, Inc. has acquired Fieldbrook Foods from Arbor Investments effective April 15, 2019. This purchase expands Wells’ current manufacturing capacity and diversifies its ability to support customers geographically to help meet future demand and adds an important footprint on the East Coast.
In December 2022, Ferrero Group agreed to acquire Wells Enterprises, maker of ice cream brands like Blue Bunny and Bomb Pop.The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market
Influencing Trend:
Rising Consumption of Lacto-Free Ice-Cream
Market Growth Drivers:
Availability of Various Flavor in Ice-cream and Increase in Demand for Sweet Dishes Coupled with Rising Disposable Income among Population
Challenges:
Fluctuation in the Price of Raw Material
Restraints:
Health Concern associated with Ice-cream
Opportunities:
Manufacturers Focused on the Manufacturing the New Innovative Flavours and Growth in Demand from Younger Demographics
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Ice Cream Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Ice Cream Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Ice Cream players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Ice Cream Study Sheds Light on
The Ice Cream Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Ice Cream industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Ice Cream industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.