Frozen Dessert Market Overview:
The considerable broadening of consumer flavor profiles is boosting the demand for novel new products such as frozen dessert. Market reports related to the food, beverage and nutrition industry have been presented by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The frozen dessert market is expected to register a CAGR of 5.51% to reach USD 195.50 Billion by 2032.
The Frozen Dessert Market segment has grown significantly due to the development of the cold supply chain and availability of proper storage options. The increasing appetite for trying diverse products, awareness of different food types is increasing the market for frozen desserts. Moreover, the novelty factor offered by frozen desserts is expected to expand the market in the forecast period.
Competitive Landscape:
The framework for growth plans also has inspired the market for potential new entrants. The market competitors are making considerable adjustments to minimalize the incidence of competitive disadvantage. The leadership trends in the market are reinforcing the level of growth that can be realized in the present market scenario. The market is also well equipped to meet the challenges and keep up with the dynamic growth trends effectively. The alterations seen in terms of strategy execution and creation are modifying the development pace of the market. The plan formulation process in the market has become meaningfully easier in which deviations are well accounted for; this approach surges the overall success of these plans in the market. The evolution patterns are revised in tandem to the customer likings to realize abundant growth, and in the long run, viability.
The noteworthy competitors in the Frozen Dessert Market Companies are Cool Delight Desserts Ltd (U.K), Gilfi SA (Belgium), Hiland Diary (U.S.), Nestlé S.A. (Switzerland), Byrne Dairy (U.S.), Wells Enterprises, Inc. (U.S.), Unilever (The Netherlands), Blue Bell Creameries (U.S.), and Ben & Jerry's (U.S.), among others.
Segmentations:
The Frozen Dessert Market is segmented on the basis of type, region and ingredients. On the basis of type, the market is segmented into flavored liquid, fruit juice, mousse, milk & cream, and others. Among these segments, the mousse segment is perceived to be the fastest increasing segment based on the intensifying demand for the product.On the basis of ingredients, the market is segmented into non-dairy based, gelatos, dairy based, fruits, and others. The non-dairy based segment is anticipated to be the most rapidly growing segment through the forecast period, due to the growing prevalence of lactose intolerance among consumers.
Detailed Regional Analysis:
The Frozen Dessert Industry is segmented into regions such as Europe, North America, Asia Pacific, and Rest of the World (RoW). The North American region is controlling the frozen desserts market trailed by the European region. In North America, the U.S. is directing the market’s expansion owing to the incidence of main players in the region and is expected to hold its control through the forecast period. Though, emerging markets such as China and India are showing vast opportunities for the frozen desserts market in the approaching years. Altering lifestyles and implementation of western cultures amongst the population in these regions is principally compelling the growth of the market.
Industry Updates:
Aug 2018 FMCG Hindustan Unilever Ltd (HUL) recently said it has signed an agreement with Vijaykant Dairy and Food Products Ltd (VDFPL) and its group company to buy 'Adityaa Milk' brand ice cream and frozen desserts and front end distribution network across geographies for an anonymous sum. The planned acquisition is in line with HUL's strategic intent to fortify its position in the rapidly growing ice cream and frozen dessert market in India.
Feb 2018 After a pilot run, Coca-Cola has determined to increase its frozen fruit dessert offering in major metros. This is part of the company's strategy to make a portfolio beyond carbonated drinks.
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