The North America ice cream market is expected to grow at a CAGR of XX% during the forecast period to reach a value of USD XX million by 2023. Nestle and Unilever are the major players in this region. The sales of basic variety ice creams have been declining in favor of premium ones. Currently, the United States is leading the way due to the introduction of handcrafted ice creams, which is relatively linked to the market maturity.
New innovative flavors, introduced by companies, act as a major driver for this market. Also, private labeing reduces the price of ice creams and increases the demand, as a result. A rise in the demand for ice creams, 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 North America ice cream market is segmented on the basis of product shape, sales and geography. By shape, the ice creams are 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 North America ice cream market has been geographically segmented into the U.S, Canada, Mexico and others; the U.S is a major market in the region. The total volume of ice creams consumed in the region declined by 59 million liters, in 2015, due to a rise in the demand for high-priced artisanal ice creams. In Canada, the consumers are looking for more permissible options, like ice creams with lower calories, less sugar and portioned sizes.
The market for ice creams is highly fragmented due to the presence of many large and small scale vendors, who compete for innovation, pricing and distribution. Introducing lactose-free ice cream has further increased the competition in the market. Some of the other major players in market include -
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