Frozen Desserts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Frozen Desserts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global frozen desserts market is projected to grow at a CAGR of 5.5% during the forecast period.

Key Highlights

• The market is being driven by rising disposable incomes, the introduction of new flavors, increasing impulse purchasing, and huge demand for frozen desserts products among consumers, globally.
• Ice creams emerged as the leading product category. The factors affecting growth are flavors and fat content along with sweetness and texture.
• Lactose-free frozen ice cream is one of the emerging trends expected to gain traction in the ice cream market in the coming years. The market is driven by increasing rates of food allergies and intolerances.

Key Market TrendsIncreasing in Demand for Low-Fat Dairy Based Ice creams

The shift in consumer preference from traditional dairy based ice cream to premium brands is creating a path for international companies to launch their brands in the global frozen dessert market. In the Indian market, Unilever is one of the prominent market players in the ice cream and frozen dessert category, with its brands like Kwality Walls, Magnum and Cornetto catering to consumers at different price ranges. The sale of ice cream has increased in China, as consumers in the country consider ice cream as a snack and is one of the main reasons for the growing consumption of this product. Flavors like Darjeeling tea, yuzu, matcha, corn, black sesame, barbeque sauce, pickled plum, goat cheese and mocha ice cream have emerged in the market, creating a foundation for innovative flavors, particularly within the soft serve format.

Asia- Pacific Dominates the Global Market

The growing demand for frozen desserts has led to significant growth in the total number of ice creams and frozen dessert retail shops in China. The frozen dessert is bound to achieve great success in the Chinese market, as the increasing demand for low-fat healthy food will likely encourage people to spend more on these products. The growth of specialized brands, like Yili Chocliz, Mengniu Ice, Cornetto, Magnum, and others has been a key factor for the growth of the frozen desserts market in China. These brands are responding to augmenting health consciousness among consumers, with the launch of mini sticks and other products. These products comes in many flavors and new attractive packaging that features images of popular singers. The rising income level of consumers, drastic development of manufacturing capabilities, premiumization trend in the country, and increasing adoption of premium products among consumers are projected to cater to the increasing demand for frozen desserts in China.

Competitive Landscape

The frozen desserts market is a highly fragmented market and comprises of regional and international competitors. The market is dominated by players, like Unilever, Nestle, General Mills, and Yili Industrial Group Limited. The leading players in the frozen snacks market enjoy a dominant presence worldwide. These players focus to leverage opportunities posed by emerging markets to expand their product portfolio, so that they can cater to the requirements for various product segments, especially ice cream. Companies compete on different factors, including product offerings, quality, taste, flavours, price, functionality, size, packaging, and marketing activities, in order to gain the competitive advantage in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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