Ice Cream Market Size to Grow by USD 12.28 billion | Agropur Cooperative and Blue Bell Creameries LP Among Key Vendors | Technavio
NEW YORK, May 16, 2022 /PRNewswire/ -- Ice Cream Market Facts at a Glance-
NEW YORK, May 16, 2022 /PRNewswire/ -- Ice Cream Market Facts at a Glance-
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According to the recent market study by Technavio, the Ice Cream Market size is expected to increase by USD 12.28 billion from 2020 to 2025, with an accelerated CAGR of 3.18%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
Vendor Insights-
The market is fragmented, and the vendors are deploying growth strategies such as offering different price points, new product launches, and intact product quality to compete in the market. The key offerings of some of the vendors are listed below:
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Regional Market Outlook
The ice cream market share growth in APAC will be significant during the forecast period. China and Japan are the key countries for the market in the region. Market growth in APAC will be faster than the growth of the market in other regions. The increasing investments by the vendors in the market and increasing new product launches will drive the ice cream market growth in APAC during the forecast period.
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Market Segmentation Outlook
The impulse segment will have significant market share growth during the forecast period. Consumers' impulse purchases of ice creams are meant for immediate consumption. These include various ice cream products, such as ice cream bars, ice cream sandwiches, ice lollies, ice cream cones, ice cream cups, and ice cream sticks. The growing demand for small portion snacks is one of the reasons consumers will opt for buying ice creams on impulse during the forecast period.
Latest Drivers & Trends in the Market-
Successful launches of new products help in increasing the revenue flow and market shares of vendors. Thus, the increasing number of new product launches by the vendors in the market will help in the growth of the global ice cream market during the forecast period.
Vendors are investing in expanding their production capabilities, distribution capabilities, and other aspects. For instance, in June 2019, Morinaga & Co. Ltd. (Morinaga) announced its plans to expand its new factory in Takasaki to ramp up the production of its ice cream. The company is investing about USD 78.5 million in expanding its production facility.
Find additional information about various other market Drivers & Trends mentioned in our sample report.
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Ice Cream Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.18% |
Market growth 2021-2025 |
USD 12.28 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.34 |
Regional analysis |
Europe, APAC, North America, South America, and MEA |
Performing market contribution |
APAC at 39% |
Key consumer countries |
US, China, Japan, Russian Federation, Italy, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Agropur cooperative, Blue Bell Creameries LP, Froneri International Ltd., Gujarat Cooperative Milk Marketing Federation Ltd., Inspire Brands Inc., Mars Inc., Nestle SA, New Forest Ice Cream Ltd., Unilever Group, and Wells Enterprises Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market segmentation by Distribution channel
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SOURCE Technavio
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