Frozen Dessert Market | Growth, Trends and Forecasts | 2019-2024
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Desserts Market - Growth, Trends, and Forecast (2019 - 2024)

Global Frozen Desserts Market is segmented by product type into ice cream, frozen yogurt, and other products, by distribution channel into supermarket and hypermarkets, specialist retailers, convenience store and other distribution channels; Geography

Home Industry Reports Food & Beverage Desserts Market - Growth, Trends, and Forecast (2019 - 2024)

Market Snapshot

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Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Middle East and Africa

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The global frozen desserts market is forecasted to reach USD 228.56 billion by 2024, at an estimated CAGR of 5.32%, during the forecast period, 2019-2024.

  • 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. 

Scope of the Report

Frozen desserts, such as ice-creams and frozen yogurts are generally consumed as snacks. Most of these products are prepared from dairy products, such as milk and cream. The potential of a distribution channel for frozen desserts depends upon various factors, such as the concentration of providers in that region, penetration of the processed food sector, and reach of retail chains and preference of consumers.

By Type
Frozen Yogurt
Ice Cream
Frozen Cakes
Others
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Speciality Stores
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa

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Key Market Trends

Increasing in Demand for 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.

 

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Asia- Pacific dominates the 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.

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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.

Major Players

  1. General Mills Inc.
  2. Unilever
  3. Nestle
  4. Fonterra Co-operative Group

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Frozen Yogurt

      2. 5.1.2 Ice Cream

      3. 5.1.3 Frozen Cakes

      4. 5.1.4 Others

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Speciality Stores

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 UAE

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Key Staretegies Adopted

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 General Mills

      2. 6.4.2 Unilever

      3. 6.4.3 Nestle S.A

      4. 6.4.4 Fonterra Co-operative Group

      5. 6.4.5 Dunkin' Brands

      6. 6.4.6 Meiji Holdings Co. Ltd

      7. 6.4.7 Inner Mongolia Yili Industrial Group Co. Ltd

      8. 6.4.8 Bulla Dairy Foods

      9. 6.4.9 Dairy Farmers Of America

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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