The Africa ice cream market is expected to grow at a CAGR of 4.2% during the forecast period. Rising disposable incomes, coupled with a shift in consumer preferences, drive the growth of this market. Unilever and Nestle are the market leaders accounting for a majority of market share in the region. South Africa is a major market in Africa. Nestle sold its South African ice cream business to R&R ice cream in 2015.
An increase in urbanization, the introduction of innovative flavors and consumer indulgence drive the growth of this market. Also, private labeling reduces the price of ice creams, increasing the demand as a result. However, health concerns pose a threat to this market. Hence, ice cream manufacturers have introduced lactose-free ice creams, especially for people suffering from lactose intolerance. The unseasonal weather is a major constraint to this market.
The Africa ice cream market is segmented by shape, type, and sales. By shape, the market is segmented into sticks, buckets, sundae, floats and frozen novelties. By sales, the market is discussed for impulsive ice cream, take-home ice cream, and artisanal ice cream.
The Africa ice cream market has been geographically segmented into South Africa and others. The South African economy is recovering from a 'slow-down' phase, giving rise to disposable incomes and increasing domestic consumption. Artisanal ice creams are considered a premium segment in this region; ice creams are not quite popular in other countries in this region. However, stable growth in the market is expected due to the rising disposable incomes.
The African market for ice creams holds great scope of growth for international players. The vendors compete for innovation, pricing, and distribution. Private brands are expected to increase their market share during the forecast period. Some of the major players in market include -
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