The global frozen desserts market is serving up a delectable dish of opportunity for B2B investors. The global market is projected to reach a staggering US$176 billion by 2032, translating to a healthy CAGR of 5.8% from 2022. This surge is driven by a confluence of factors, making the frozen dessert landscape an attractive proposition for those seeking stable and lucrative investments.
The frozen dessert market encompasses a delightful array of products, including ice cream, frozen yogurt, frozen cakes, and more. It accounts for a whopping 69% of the global ready-to-eat foods market, highlighting its significant share in the consumer indulgence arena.
Several key ingredients are fueling the growth of the frozen dessert market:
- Rising Disposable Income: As disposable incomes increase, consumers are more likely to indulge in impulse purchases, including frozen treats.
- Flavor Frenzy: The constant introduction of exciting new flavors keeps consumers engaged and enticed to try new offerings.
- Global Craving: The demand for frozen desserts is rising across the globe, creating a vast and expanding market.
- Digestive Delight: The trend of enjoying frozen desserts after meals as a digestive aid is contributing to market growth.
- Heat Wave Hero: Hot weather is a boon for frozen desserts, with demand spiking significantly during warmer months.
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However, growing health concerns among people may hamper the market in the next decade. As per the World Health Organization (WHO), around 422 million people worldwide have diabetes and the number is expected to reach 600 million in the next two decades. Thus, consumers are looking for vegan, low-calorie, and dairy-free alternatives, which may hinder the market.
But, due to growing popularity of organic frozen desserts, several companies are aiming to broaden their product portfolios in this category. In May 2021, for instance, New York-based KIND Healthy Snacks (KIND) launched KIND FROZEN Pints, its new creamy, plant-based frozen treat range with 4-6g of protein per serving.
Growing Factors: The Sweeteners for Success
Beyond the core demand drivers, several emerging trends are further sweetening the deal for the frozen dessert market:
- Sustainable Sourcing: Companies are exploring eco-friendly alternatives for sourcing ingredients, catering to environmentally conscious consumers.
- Technological Advancements: Advancements in processing and manufacturing techniques are leading to improved product quality and consistency.
- Niche Market Focus: New entrants are finding success by targeting specific consumer preferences with specialized frozen dessert offerings.
Key Takeaways: Frozen Desserts Market
- The global frozen desserts market is anticipated to reach a valuation of around US$ 100.1 Bn by 2022.
- By product type, the ice cream segment is anticipated to account for around 50% of the global frozen desserts market share over the forecast period.
- The U.S. frozen desserts market is expected to generate the lion’s share with rising demand for low-fat and healthy desserts.
- Sugar free frozen desserts to emerge as a lucrative category among consumers in the upcoming decade.
- The China frozen desserts market is set to exhibit steady growth on the back of surging number of ice cream parlors in the country.
“Rising demand for gluten free and low-fat desserts is set to augment growth in the frozen desserts market during the evaluation period,” says a Future Market Insights analyst.
Competitive Landscape: Frozen Desserts Market
The frozen desserts market is highly fragmented with the presence of both domestic and international players such as Unilever, Nestle, and General Mills among others. Top players are focusing on entering emerging markets by expanding their product portfolios to meet the surging consumer demand for various types of desserts, including ice creams.
Some of the other players are competing on the basis of product offerings, taste, flavors, quality, price, packaging, size, functionality, and promotional activities to gain a competitive advantage in the frozen desserts market.
For instance,
- In April 2022, KLIMON, a dairy-free frozen dessert producer, launched 100% plant-based, almond-based, and dairy-free frozen dessert pints in 5 innovative flavors at select Walmart locations across the U.S.
- In January 2022, Mondelez International, Inc., an American food manufacturer, introduced its latest range of frozen treats under the Oreo brand. The new range includes Oreo tubs, sandwiches, cones, and bars.
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Explore More Valuable Insights on Frozen Desserts Market
Future Market Insights, in its new report, offers an impartial analysis of the global frozen desserts market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (ice cream, frozen yogurt, frozen cake, and other product type), category (conventional and sugar free), and sales channel (offline sales channel [supermarkets/hypermarkets, departmental stores, convenience store, and other sales channel] and online sales channel [company website and e-commerce platform]) across seven major regions of the world.
Frozen Desserts Market Outlook by Category
By Product Type:
- Ice Cream
- Frozen Yogurt
- Frozen Cake
- Other Product Type
By Category:
- Conventional
- Sugar Free
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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