Pune, India, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Frozen Dessert Market Overview:
Market Research Future (MRFR) revels that the Frozen Dessert Market can expect to record a growth rate of 5.64% from 2020 to 2026 (evaluation period), to touch a spectacular value of USD 102.90 Billion by 2026.
Frozen desserts are generally made of vegetable fats, milk compounds, combined with a mix of different flavors as well as dry fruits. The rising consumption of frozen dessert post meal since it is considered to be an ideal digestive aid will do wonders for the global market. Climate changes remains another strong reason for the healthy demand for frozen desserts like frozen yogurt and ice cream.
The growing significance of e-commerce platforms due to appealing benefits such as huge discounts as well as cash-on-delivery features could present lucrative opportunities to the leading manufacturers who aim to boost their reach among more consumers.
Developments Post COVID-19 Outbreak
The COVID-19 outbreak as well as the subsequent lockdown has had a brutal effect on the Frozen Desserts Market, with manufacturing facilities shutting down and consumer demand for no. n-essential products going down. Players are facing revenue losses because of the SARS-CoV-2 pandemic due to travel bans as well as the economic downfall across the world.
However, with the lockdown now being lifted up, players are now able to continue with their business and also concentrate on strengthening their supply chains. Also, the prominence of the e-commerce sector, especially food delivery services, will also help the frozen desserts market recovery faster in the coming years.
Future Market Growth Factors:
Heightened demand for frozen desserts across the world is the result of evolving consumer preferences and tastes along with the rise in health consciousness. The escalation in global disposable income, combined with the frequent introduction of different flavors in the dessert segment that consider the taste of every group of consumers, also benefit the global market. The latest trend has been the mounting consumer preference for vegan alternatives, dairy-free products and low-calorie options, which compels manufacturers to develop healthier products that cater to the concerned consumer class.
Furthermore, the amplified preference for artisanal ice cream across various countries also seem to be fostering the sales of frozen desserts within the food industry. The soaring popularity of E-commerce distribution channels among consumers is also creating lucrative opportunities for the frozen desserts manufacturers.
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Key Players Locking Horns:
- Kellogg Company (US)
- Danone SA (France)
- Conagra Brands, Inc. (US)
- Unilever (UK)
- Ferrero (Luxembourg)
- General Mills Inc. (US)
- DD IP Holder LLC (US)
- Nestlé SA (Switzerland)
- Dairy Queen (US)
- London Dairy Co. Ltd (UK)
The competitive landscape of the frozen dessert industry is quite intense with players primarily focusing on bolstering their positions by expanding their product ranges and launching new flavors. Strategic mergers, divestments and acquisitions as well as agreements remain the top favored marketing tactics among the major manufacturers striving to foster their customer base. Expansion of production capacity via acquisition and partnership remains another key competitive strategy usually undertaken by the companies to further establish themselves in the market.
Market Segmentation:
Product Type, Category and Distribution Channel are the top segments in the MRFR study of the Frozen Desserts Market.
With respect to product type, the market primarily caters to cakes, yogurts, ice cream, and more. The ice cream segment has stayed in the lead since 2019, with the robust demand being the result of high availability of a number of flavors and varieties in the market. Meanwhile, the yogurts segment can project the fastest growth in the years to follow, as brands are constantly developing new varieties with improved taste and health benefits to cater to a higher number of consumers.
Category-wise, the primary segments include conventional as well as sugar-free. Conventional frozen desserts are the top segment in the market, mostly due to the significant availability as well as cost effective pricing that boosts the appeal among the middle-class population in emerging regions.
Various distribution channels selling frozen desserts are either store-based or non-store-based. Store-based channels are further split into convenience stores, supermarkets & hypermarkets, and others. These channels are the most preferred among consumers and therefore, hold the leading position in the market. Out of all the store-based channels, supermarkets & hypermarkets contribute the most to sales of frozen desserts worldwide.
Browse In-depth Market Research Report (130 Pages) on Frozen Dessert: https://www.marketresearchfuture.com/reports/frozen-dessert-market-1520
Regional Status and Challenges:
In 2019, Asia Pacific took the lead by seizing the biggest share of 35.24% in the global frozen desserts market. Growing consumer interest in fresh and savory food products has worked in favor of the Asia Pacific market to a large extent. Brands like Magnum and Cornetto have successfully ranked to the leading spots in the region, especially in China, while India and Japan are witnessing a surge in retail sales of premium products like frozen ice cream and cakes.
North America is one of the strong performers in the global market, in view of the vendors focusing on bolstering their portfolio of various kinds of frozen desserts. The leading firms are also focused on leveraging the opportunities in emerging markets to foster their brand value, while also keeping a tab on the latest pulse of consumer taste and demand, especially in Canada and the United States.
Europe managed to seize a substantial portion of the global market for frozen desserts in 2019, thanks to the escalating prevalence of healthy lifestyles among consumers and the latter’s rising preference for food products that are healthy as well as indulgent. This scenario has been encouraging frozen yogurt and other dessert vendors to introduce new flavors, thereby giving a tough competition to sales of chilled desserts. The recent COVID-19 pandemic has sent top players like Unilever and Nestle on an upward growth trajectory by virtue of a healthy growth in sales of ice cream, particularly since the lockdown and the stockpiling emerging as the latest trend.
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Latest Developments
In January 2021, Ben & Jerry introduced a new line of Doggie frozen desserts that are treats for dogs. This ice cream line consists of two new flavors, namely Rosie's Batch and Pontch's Mix. Pontch's Mix flavor is made of pretzel swirls and peanut butter, while Rosie's Batch is a blend of mini cookies and creamy pumpkin.
In February 2021, Brave Robot confirmed its expansion plans for its retail footprint to 5,000 outlets by April 2021. This expansion involves an increase of 1,500-percent of the brand’s retail footprint, which will see its frozen ice cream pints in popular grocery stores like Harris Teeter, Kroger, Stop & Shop, Shoprite, Albertsons/Safeway, and natural grocers including Harmons, Sprouts, Fresh Thyme, Earth Fare and New Seasons.
Discover more Research Reports of Food and Beverages Industry, by Market Research Future:
Frozen Foods Market: Information by Type (Frozen [Fruits & Vegetables, Meat & Poultry and Seafood], Frozen Processed [Bakery Products, Dairy & Desserts, Meat & Poultry, Seafood, Soups and Others], Distribution Channel (Store-Based [Supermarkets & Hypermarkets, Convenience Stores and Others] and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2026
Dairy Desserts Market Global Research Report Information by Type (Ice creams, Yoghurt, Custards, and Others), Distribution Channel [Store-Based (Supermarkets & Hypermarkets, Convenience Stores, and Others) and Non-Store-Based], and Region (North America, Europe, Asia-Pacific, and RoW) - Forecast till 2024
Non-Dairy Frozen Desserts Market Research Report: Information by Type (Custard & Puddings, Ice-Creams, Cakes & Pastries, Yogurt, and Others), Category (Lactose-Free and Conventional), Distribution Channel (Store-Based and Non-Store-Based), and Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2024
Frozen Yogurt Market Research Report: Information by Category (Conventional and Lactose Free), Product Type (Full-Fat, Fat-Free, and Low-Fat), Distribution Channel [Store-Based (Supermarkets & Hypermarkets, Convenience Stores, and Others) and Non-Store Based], and Region (North America, Europe, Asia-Pacific, and the Rest of the World) - Forecast till 2024
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