The Europe ice cream market is expected to grow at a CAGR of 4.2% during the forecast period, 2018-2023. The ice cream market in Germany was valued at EUR 1.3 billion in 2014. The demand for artisanal ice creams is growing rapidly in the region. Non-dairy ice creams are also gaining popularity in this region due to the increasing health consciousness among the people. Fish cone ice creams are the latest trend in Europe.
Indulgence and the increasing consumer preference for ice cream as a leisure product drive the growth of this market and new innovative flavors, offered by companies, further act as a catalyst for demand generation. Also, private labeling reduces the price of ice creams and increases the demand, as a result. A rise in the demand for ice cream products, from consumers above 50 years, is another factor that contributes to the growth. However, health concerns pose a threat to this market. Hence, ice cream manufacturers have introduced lactose-free ice creams, especially to cater to people suffering from lactose intolerance.
The Europe ice cream market is segmented on the basis of product shape, sale and geography. 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 Europe ice cream market has been geographically segmented into Germany, the U.K, France, Spain, Italy, Russia and others. Germany is a major market in the region, followed by Italy. The demand is mostly driven by consumer indulgence. In Germany, nearly two-thirds of the ice cream consumers are interested in non-dairy alternatives, due to the increasing health consciousness among the people. Artisanal ice cream segment is growing rapidly in the region.
The market for ice creams is highly fragmented, due to the presence of many large and small scale vendors. Introducing lactose-free ice creams and flavor innovations have further increased the competition in this market. The vendors are focussed on producing non-dairy alternatives, as well, as they are gaining popularity in Europe. Private brands are expected to increase their market share during the forecast period. Some of the other major players in market include -
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