Global Ice Cream Coating Market - 2022-2029

Global Ice Cream Coating Market - 2022-2029

Market Overview

Coconut oil or hydrogenated palm kernel oil is used to prepare the ice cream coating. Both coconut and palm oil offers a good coating and a cool melting. Consumers' increased consumption of bakery goods, ice creams, and confectionery items has fueled the demand for ice cream coating, which fuels the world market for ice cream coating. The coatings market is driven by the shift in food product trends and the adoption of food decorative culture. The demand for food and beverages has increased due to the rising per capita income, which drives the ice cream toppings market. The demand for ice cream coating is rising due to the rising popularity of new ice cream flavors. The use of the ice cream coating as a snack dip also drives up demand for the product in the market. Low-carb products are more popular with consumers concerned with their health, so manufacturers are now introducing low-carb ice cream coating.

The global ice cream coating market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 6.43% during the forecast period (2022-2029).

Market Dynamics: Increasing ice cream product demand in the food and beverage industry drives the market expansion

The global ice cream coating market is anticipated to be driven by the increasing demand for products in the food and beverage industry due to rising per capita income and changing consumer preferences. The market is anticipated to experience growth over the forecast period due to the rising awareness among bakers and parlors about coating with ice creams to improve the quality, shape, and flavor. The ice cream coating enhances the flavor and quality of products, which will spur market expansion for the forecast. Moreover, rapid urbanization is expected to drive the global ice cream coating market because it is raising consumer demand for food items and altering their eating habits.

However, growing consumer health concerns and the popularity of low-calorie products could restrain the market's expansion for ice cream coatings. The market's expansion may also be hampered by the expensive cost of storage, the short shelf life of ice creams, and the product's seasonal demand.

Market Segmentation: The chocolate segment accounted for the highest share of the global ice cream coating market

Ice cream with a chocolate flavoring, naturally or artificially, is referred to as chocolate ice cream. Chocolate ice cream combines eggs, cream, sugar, and cocoa powder. Cocoa powder is sometimes mixed with chocolate liquor to make the chocolate darker. Sundaes, pies, smoothies, and other desserts can all be made with chocolate ice cream. Additionally, the high antioxidant and flavonoid content of dark chocolate ice cream contributes to lowering bad cholesterol and enhancing cardiovascular health. So, the demand for the chocolate segment is very high in the global ice cream coating market.

On the other hand, Vanilla is a flavor primarily used in the food industry, including in beverages, dairy products, and bakery goods. It also has several applications in other fields like cosmetics and medicine. Vanilla is a popular flavoring in foods and drinks that are loved worldwide. Vanilla is also used in magic shell coating for ice cream while preparing ice creams. There are multiple advantages of vanilla in different industries, and the demand for vanilla is very high.

Geographical Penetration: The Asia Pacific is the dominating region during the forecast period

Due to changing consumer preferences, the Asia Pacific will remain dominant in the global ice cream coating market. China's market will expand at the fastest rate during the forecast period due to the country's growing population, evolving consumer tastes, and rising demand for coated ice cream. The rising per capita income and rapidly evolving eating habits are providing a better market environment to the manufacturers in the global ice cream coating market. The market growth of ice cream coating in Asia is anticipated to increase quickly due to the high presence of manufacturers and suppliers in the area.

On the other hand, due to the wide variety of flavors and ice cream coating types offered, Europe is predicted to experience tremendous growth during the forecast period. The market for ice cream coatings in Europe represents YY% of the market for ice cream coatings worldwide. The ice cream coating industry manufacturers are also introducing new, healthier alternatives, which is helping to increase demand in Europe. For instance, Barry Callebaut intends to launch a new line of ice cream coatings in various hues and flavors to appeal to the bakery and confectionery products market.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Key major players are FONA International, Barry Callebaut, Smucker Company, Blommer Chocolate Company, Walter Rau Neusser Ol und Fett AG, and Chr. Hansen, Kwality Icecreams, Bunge Loders Croklaan, Baskin-Robbins and Palsgaard. These key players started introducing new products in the market and expanded their business. For instance, On 11th February 2021, A brand-new Unicorn Magic Shell ice cream topping was released by Smucker. The white cupcake flavor of this Magic Shell topping is delectable and dreamy, and it has lovely flecks of pink, blue, and purple, which are some of every unicorn's favorite colors. On the other hand, On 27th July 2020, Barry Callebaut launched a new Ruby chocolate ice cream coating. According to the Ruby brand, it's ideal for layering in ice cream pints or dipping ice cream cones and sticks. The vast selection of ice cream solutions offered by Barry Callebaut has just expanded with the addition of Ruby.

COVID-19 Impact Negative impact on the global ice cream coating market

Since ice cream is not regarded as a necessary commodity, the COVID-19 pandemic significantly impacted the pattern of ice cream consumption worldwide. Consumers worldwide tried to cut back on their ice cream consumption out of fear of getting sick. However, some customers used ice cream as comfort food while lockdowns were in effect. Many customers chose frozen goods from local general stores and online retailers, which offered high stock levels along with necessities like groceries, prescription drugs, and toiletries. As a result, the demand for global ice cream coating decreased during covid-19.

The global ice cream coating market report would provide an access to approximately 61 market data tables, 57 figures and 170 pages