Frozen Dessert Market Report
Frozen Dessert Market by Product (Confectionary & Candies, Ice Cream, Frozen Yogurt, and Others) Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Cafe & Bakery Shops, Online, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Frozen Dessert Market Overview
Frozen desserts are a broad variety of tasty delights that people all over the world love to eat, such as ice cream, cream, sorbet, frozen yogurt, and other frozen products. Frozen desserts are tasty and refreshing which makes them preferred among the public. These delicacies are usually enjoyed in hot weather or as a lovely dessert after a meal. They calm the body and fulfill the craving for something creamy and sweet. Frozen desserts are available in a wide range of flavors and manufacturers are continually innovating and introducing new tastes to meet a wide range of consumer preferences and diet concerns. There are several options for vegans and lactose-intolerant people, and those looking for healthier alternatives.
Global Frozen Dessert Market Analysis
The global frozen dessert market size was $95.04 billion in 2022 and is predicted to grow with a CAGR of 5.5%, by generating a revenue of $157.68 billion by 2032.
COVID-19 Impact on Global Frozen Dessert Market
The frozen dessert market experienced significant changes and challenges due to the COVID-19 pandemic. As lockdowns and restrictions were implemented to contain the spread of the virus, the demand and consumption patterns of frozen desserts was affected. The pandemic led to a shift in consumer behavior, with people becoming more health-conscious and mindful of their food choices. Many individuals started prioritizing healthier eating habits, which impacted the consumption of traditional frozen desserts high in sugar and fat. The pandemic highlighted the importance of hygiene and safety measures in food production and consumption. This led to increased scrutiny and regulations within the frozen dessert industry to ensure the safety of products and instill consumer confidence.
Exploring Sensory Experience, Social Appeal, and Convenience Factors Drive the Market Growth
Frozen desserts offer a pleasurable sensory experience. The creamy texture and cold temperature provides a unique sensation that can be particularly enjoyable, especially during hot weather or as a treat to satisfy cravings. Another major factor driving the growth of the market is the social aspect of consuming frozen desserts. Many people associate frozen treats with social gatherings, celebrations, or simply enjoying a sweet treat with friends and family. Marketing and branding efforts also influence the popularity of frozen desserts. Companies promote their products through advertisements, social media campaigns, and product placements, creating awareness and desire among consumers. Clever packaging and attractive presentation can also contribute to the appeal of frozen desserts. Furthermore, the convenience aspect influences the consumption of frozen sweets as they are readily available in a variety of formats, including pre-packaged versions in supermarkets and specialty ice cream parlors or dessert shops. This accessibility allows customers to satisfy their desire for food whenever and wherever they want. The growth of online delivery platforms has made it easier for consumers to access a wide range of frozen desserts sitting at home.
Health Impacts, Additives, Allergens, and Seasonal Fluctuations to Restrain the Market Growth
Many frozen desserts are high in sugar which can lead to health issues such as obesity, diabetes, and tooth decay. Excessive consumption of these products can have a negative impact on overall health and well-being. Some frozen desserts include artificial colors, flavors, and preservatives, which may have certain negative effects on the health. These additions might also reduce the perceived quality and nutritional value of the products. Many frozen sweets contain common contents such as milk, eggs, nuts, and soy. This poses a challenge for individuals with allergies or dietary restrictions, reducing the potential consumer base. The demand for frozen desserts often fluctuates with seasonal variations. The market experiences higher demand during warmer months, while colder periods may witness a decline in sales, leading to seasonal challenges for manufacturers and retailers.
Advancements in Frozen Dessert to Drive Excellent Opportunities
Offering customizable frozen desserts can be a significant trend in the future. Entrepreneurs can consider implementing self-serve frozen yogurt stations or allowing customers to choose their own mix-ins, toppings, and flavors, providing a personalized experience. This is projected to be one of the major factors driving the market expansion. With the increasing popularity of online shopping and food delivery services, entrepreneurs can explore the potential of selling frozen desserts online or partnering with existing delivery platforms. This approach can help reach a wider customer base and provide convenient access to frozen treats. Expansion of online platforms is also anticipated to create several growth opportunities for the key players operating in the market.
Global Reverse Factoring Market, by Product, 2022
The ice cream sub-segment accounted for the highest market share in 2022. Ice cream has established itself as the dominating product in the frozen dessert industry due to a variety of reasons. These factors include its flavor, availability, cream, taste, and liking of all the age group people. Ice cream is famous for its creamy, sweet flavor that appeals to both children and adults. Its smooth texture and pleasant feel makes it an enticing summer treat. The availability of varieties, including chocolate, vanilla, strawberry, and others, allows customers to choose their favorite flavor, catering to a wide range of tastes. Ice cream can be served as a solo dessert or along with other desserts such as milkshakes, sundaes, and ice cream cakes. This adaptability allows for innovative combinations and limitless possibilities, enticing customers with various tastes. Furthermore, ice cream may be customized with a variety of toppings such as nuts, fruits, sauces, and sprinkles, which increases its attractiveness. It is easily available in a variety of places, such as ice cream shops, supermarkets, convenience stores, and even mobile ice cream trucks.
Global Reverse Factoring Market, by Distribution Channel, 2022
The supermarket/hypermarket sub-segment accounted for the highest market share in 2022. Supermarkets have evolved as the major distribution channel in the frozen dessert sector for a variety of reasons. Supermarkets are convenient to the customers as they offer a one-stop shopping experience. Customers may enjoy a wide variety of frozen desserts under one roof, including ice cream, gelato, frozen yoghurt, and others. This feature appeals to busy customers who wish to buy groceries and frozen desserts at the same location. Supermarkets offer competitive prices to customers, making frozen desserts more affordable and accessible compared to specialty dessert shops or other retail outlets. Furthermore, supermarkets invest heavily in marketing and advertising to promote their frozen dessert offerings. They utilize various strategies, such as product displays, discounts, and promotions, to capture consumers' attention and encourage purchase decisions.
Global Frozen Dessert Size & Forecast, by Region, 2022-2032
The North America frozen desert market generated the highest revenue in 2022. North America is considered as the dominant region in the frozen dessert market due to several factors. The region has a long history of consuming ice cream, frozen yogurt, and other frozen treats which has created a well-established market. It has a strong cultural affinity for indulgent and sweet treats, making them a key target audience for frozen desserts. Furthermore, the region's diverse and affluent population contributes to the dominance of the frozen dessert market. North Americans have a relatively high disposable income and are willing to spend on indulgent and convenient food options. Frozen desserts offer a convenient and enjoyable way to satisfy cravings and provide relief from hot weather conditions, which makes them appealing to a broad consumer base. Moreover, North America's climate plays a key role in driving the demand for frozen desserts. Many parts of the region experience hot summers, creating a natural inclination for people to seek refreshing and cool treats like ice cream and frozen yogurt.
Competitive Scenario in the Global Frozen Dessert Market
Investment and agreement are common strategies followed by major market players. For instance, in October 2022, Kwality Walls, a Hindustan Unilever trademark, introduced Gulab Jamun-flavored ice cream in India during the festive season. Gulab jamun flavored ice cream has a unique taste of mithai in addition to fruits and nuts.
Some of the leading frozen dessert market players are General Mills, Unilever, Nestle, Kellogg's Company, London Dairy, China Mengniu Dairy, Frosty Boy, Pinkberry, Honey Hill Farms, and Scott Brothers Dairy.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Product
Segmentation by Distribution Channel
Key Companies Profiled
Q1. What is the size of the global frozen dessert market?
A. The size of the global frozen dessert market was over $95.04 billion in 2022 and is projected to reach $157.68 billion by 2032
Q2. Which are the major companies in frozen dessert market?
A. General Mills, Unilever, Nestle, Kellogg's Company, London Dairy, China Mengniu Dairy, Frosty Boy, Pinkberry, Honey Hill Farms, and Scott Brothers Dairy are the major companies in frozen dessert market.
Q3. Which region, among others, possesses greater investment opportunities in the future?
A. North America possesses great investment opportunities for investors in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted by the operating companies in this market
Q5. Which companies are investing more on R&D practices?
A. General Mills, Unilever, Nestle, Kellogg's Company, London Dairy, China Mengniu Dairy, Frosty Boy, Pinkberry, Honey Hill Farms, and Scott Brothers Dairy are companies investing more on R&D practices.