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Global Frozen Desserts Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report - Segmented By Product Type (Sherbet, Frozen Yogurt, Frozen Ice Cream, Frozen Tofu, Frozen Cakes, Mousse, Frozen Novelties), Fat Content (Regular Frozen Desserts, Low Fat Desserts), Consumption (Home, Hotel And Restaurants And Dessert Parlors), And Region (North America, Europe, APAC, Latin America, Middle East And Africa) – Industry Analysis From 2024 To 2029

Published: March, 2023
ID: 4131
Pages: 170
Formats: report pdf report excel report power bi report ppt

Global Frozen Desserts Market Size (2024 to 2029)

As per our analysis report, the global frozen desserts market is expected to reach USD 135.40 billion by 2029 from USD 104.09 billion in 2024, growing at a compound annual growth rate (CAGR) of 5.40 % during the forecast timeline. The market is driven by the introduction of new flavors, increased impulse purchases, and increased demand for frozen dessert products among consumers worldwide.

Frozen desserts belong to the frozen food industry and are generally eaten after meals or served as soft drinks and can be enjoyed between meals. Frozen desserts consist mainly of milk and cream, often combined with fruit, nuts, and other flavors. Frozen desserts are aroma-based foods in the form of shaved ice, ice, sherbet, and snow cones. And they are made from solid milk or even vegetable oil. Frozen cakes, frozen yogurt, ice cream, and so on are the prominent frozen desserts available in the market that have a high consumption rate based on the availability of numerous flavors. Additionally, target customers tend to prefer ice cream after meals, which is why ice cream sales are significantly higher than those of other frozen desserts. The increase in the disposable income of consumers, coupled with people's increasing propensity for food, is expected to fuel the growth of frozen dessert markets worldwide.

Global Frozen Desserts Market Drivers:

One of the main reasons for market growth is the increasing demand for frozen dessert products worldwide due to changes in consumer tastes and health awareness. In addition, the increase in disposable income has led to the market with the introduction of various products in the dessert sector to accommodate a wide selection of consumer groups. Frozen desserts mainly consist of dairy compounds and vegetable fats, with a flavor mix and dried fruit. The development of innovative flavors and packaging for various frozen products has proven to be crucial to the growth of the region. Over the last few years, several novel products have been introduced in the category of frozen desserts. Nestlé released "Outshine Frozen Yogurt Bars," which became very popular with children in no time. Consumers are buying more and more of these bars because they do not contain high fructose corn syrup and are high in protein and calcium.

The growth of the frozen dessert market is accelerating as the tendency to consume frozen desserts after meals increases as an effective digestive product increases. Climate change is another factor that can create a high demand for frozen desserts like ice cream and frozen yogurt worldwide. On hot days, the need for ice cream can only quickly rise to 50%, and if the weather is terrible, it can drop by 20%. Customers believe that it accelerates the growth of the market by eating ice cream to cool down their body temperature in hot weather.

The lactose-free frozen ice cream segment is considered a new trend that is expected to become popular in the frozen dessert market in the coming years. The market is driven by the rising rate of food allergies and intolerances. There has been remarkable progress in the frozen dessert market for many years. The packaging industry, combined with the e-commerce sector, provided customers with a convenient facility to order frozen desserts online and enjoy snacks at home. This influenced its fluctuation factor and was an active contribution to the increase in sales of ice cream and other frozen desserts. Additionally, various frozen desserts are sold in shopping malls, department stores, multiplexes, and other dessert channels to support the global frozen dessert market further.

Global Frozen Desserts Market Restraints:

There is a broad spectrum of frozen dessert markets around the world, but the biggest challenge for manufacturers is balancing the current demand for vegan and organic products with a diminishing taste that is detrimental to global sales. As people's health problems increase, the growth of this market is hampered. Most consumers prefer low-calorie options, vegan alternatives, and dairy-free products as healthier options, affecting the growth of the market. Furthermore, as the number of diabetics increases, the dessert industry has put pressure on the development of sugar-free products suitable for the relevant consumer base.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

5.4%

Segments Covered

By Product Type, Fat Content, Consumption, & Region

Various Analyses Covered

Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Baskin-Robbins, Nestle SA, Unilever, Danone Groupe SA, Ben & Jerry's Homemade Holdings Inc., Cielo USA, and Kraft Foods Group Inc.

 

This research report on the global frozen desserts market has been segmented and sub-segmented based on product type, fat content, consumption, and region.

Global Frozen Desserts Market - By Product Type:

  • sherbet
  • Frozen Yogurt
  • Frozen Ice Cream
  • Frozen Tofu
  • Frozen Cakes
  • Mousse
  • Frozen Novelties

Global Frozen Desserts Market - By Fat Content:

  • Regular Frozen Desserts
  • Low Fat Desserts

Global Frozen Desserts Market - By Consumption:

  • Home
  • Hotel and Restaurants
  • Dessert Parlors

Global Frozen Desserts Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

The North American frozen desserts market was the most extensive local market in 2018 as demand for ice cream increased. In 2018, the United States was the largest market, with a 91.6% share of the North American market. Lifestyle changes, coupled with an increase in health awareness, are driving the growth of this market. Frozen yogurt is the most popular product, offering consumers a variety of flavors, with more than 400 brands in this segment. With this in mind, the USDA has launched several projects to promote the consumption of yogurt and related products in the region. Low-fat yogurt is a rich source of calcium, and organizations are increasingly promoting it for health and nutrition.

The Asia Pacific frozen desserts market is supposed to emerge as the fastest-growing regional market during the forecast period. Increases in urban populations, changes in lifestyles, gains in disposable income, and changes in weather conditions are some of the principal factors supporting the market boom in the region. The increased demand for frozen desserts has significantly increased the total number of retail ice cream and frozen dessert stores in China. Frozen desserts are sure to be a big hit in the Chinese market, as people can spend more money on these products as demand for healthy, low-fat foods increases. The increasing level of consumer income, the rapid development of manufacturing capacity, the country's trend towards primacy, and increased consumer adoption of premium products are assumed to meet the growing demand for frozen desserts in China.

KEY MARKET PLAYERS:

Major Key Players in the global frozen desserts market are Baskin-Robbins, Nestle SA, Unilever, Danone Groupe SA, Ben & Jerry's Homemade Holdings Inc., Cielo USA, and Kraft Foods Group Inc.     

RECENT HAPPENINGS IN THE MARKET:

  • The carbonated soft drink company Coca-Cola expanded its business by introducing frozen desserts in India. The company also proclaimed that it aims to add a wide range of fruit-based products and sweets to the market by investing 11bn rupees in agricultural ecosystems and food processing equipment and sources.
  • In August 2018, Hindustan Unilever Limited aspired to become a market leader in the frozen dessert market. To diversify the frozen dessert portfolio, consumer conglomerates have acquired Vijaykant Dairy and Food Products Limited (VDFPL).
  • Baskin Robbins has launched a dairy-free fragrance for vegan consumers who prefer desserts over animal-based ingredients. Two new flavors allow customers to follow a lifestyle without compromise.

 

 

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FAQ's

1. What are the challenges faced by the frozen desserts market?

The challenges faced by the frozen desserts market are fluctuations in raw material prices, particularly for dairy and fruit ingredients, which can impact production costs and profit margins, and Intense competition among manufacturers, leading to price wars and pressure on profitability.

2. What are the emerging opportunities in the frozen desserts market?

The emerging opportunities in the frozen desserts market include expansion into untapped markets such as Asia-Pacific and Latin America, which presents lucrative growth opportunities for frozen dessert manufacturers. Collaborations with celebrity chefs and influencers to create unique and exclusive frozen dessert offerings can help differentiate brands and attract new customers.

3. What factors are contributing to the growth of the frozen desserts market?

The factors that are contributing to the growth of the frozen desserts market are changing consumer lifestyles and preferences towards indulgent yet convenient food options and Growing awareness about health and wellness, leading to increased demand for healthier frozen dessert alternatives.

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