Market Research Future (MRFR) reveals that the Artisanal Ice Cream Market could soar at a decent rate of 5.95% between 2019 and 2025 (evaluation period). The artisanal ice cream market size will reach USD 4,505.3 Billion by 2025, adds MRFR.
The COVID-19 outbreak and especially the subsequent lockdown have had a brutal impact on the food and beverage industry, with the temporary shutdown of several manufacturing facilities and weakened consumer demand for ice creams. The artisanal ice cream industry has witnessed devastating effects of the SARS-CoV-2 pandemic, and therefore, players are now more focused on bolstering their supply chains and accelerating their operations to develop a wider range of products, to once again capture the attention of the consumers. Also, with the lockdown being lifted up across countries and the novel coronavirus seemingly under control, the demand for artisanal ice cream has been picking up traction, resulting in market growth.
Improving Living Standards & Preference for Luxury Goods to Foster Growth
Escalating preference for fruit-flavored ice cream has emerged as a significant trend in the global market. The product demand is further encouraged by evolving consumer taste in view of growing living standards and the prevalence of urban lifestyle. Also, with consumers progressively adopting a healthy lifestyle has fostered their preference for sugar-free and low-fat ice cream, which has made artisanal ice cream a profitable market across the globe.
Younger population is fond of snacking at various intervals, a tendency that has raised ice creams’ popularity as a healthy snack. Health and fitness consciousness among consumers remains a key reason for the strong product demand, while the high nutrient content along with organic and natural composition also adds to the market value.
Surge in Customers Viewing Artisanal Ice Cream as Healthier Snack to Offer Opportunities
Customers are increasingly opting for healthier ice cream, which can be viewed as a significant opportunity for top brands. The expanding customer base viewing artisanal ice creams as a healthier snack has led to introduction of new flavors that clam to have significant nutritional value, which has translated into striking growth worldwide.
High Costs and Surge in Health Issues to Challenge Growth
Artisanal ice cream’s high costs along with the increase in health issues like diabetes worldwide could be a major threat to the market growth in the ensuing years.
Conventional Ice Cream Flavors Dominate the Market
Primary types of artisanal ice creams are conventional as well as lactose-free. The conventional artisanal ice cream is the top segment and could touch USD 3,694.6 Million by 2025-end. On the other hand, the lactose-free segment is touted to register the fastest growth rate with the majority of the sales primarily concentrated in Europe and North America, given the expanding pool of lactose-intolerant consumers in these regions.
Supermarkets & Hypermarkets Segment Emerges at the Top
Key distribution channels considered in the market study are specialty stores, online and supermarkets & hypermarkets. The supermarkets & hypermarkets segment has taken the lead in 2018 with a share of 20.14% and could project a growth rate of 6.14% in the forthcoming period. The specialty stores segment is also presumed to perform well in the forecast period. But it is the online segment that can pick up at a pace of 6.34% between 2019 and 2025, indicating favorable growth.
Europe to Secure the Second Position
Europe should retain its prominence in the global market with the highest share of 34.93% it acquired in 2018. The UK and Germany are the top performing markets in the region. The artisan ice cream market UK, in particular, will make significant progress in the coming years, on account of the rising number of manufacturers in the country actively involved in strategies to capture a higher customer base by launching new and healthy ingredients-infused artisanal ice creams in the market.
APAC to Record the Highest Growth Rate
The Asia Pacific market can project the highest progress rate of 6.53% from 2019 to 2025, in view of the rapid urbanization as well as the expanding middle-income population base. These factors have boosted the consumption rate of a variety of frozen desserts. China is expected to maintain its winning streak throughout the review period, while New Zealand and Australia are touted to register the fastest growth rate in the same period.
Players Introduce New Flavors to Bolster Global Presence
Vendors in the artisanal ice cream industry are mostly focused on bolstering their geographic presence, for which they strive to enter untapped regions and also launch new and innovative ice cream flavors. Most of the key brands also acquire smaller sized companies to create brand awareness across locations and capture a bigger share in the artisanal ice cream market.
The key points covered in the artisanal ice cream industry analysis include the key challenges, barriers and drivers affecting the market size. MRFR report takes into account the base year, projected period as well as the size during the given period. The market study also comprises some of the key developments post the COVID-19 outbreak in the market. Apart from comprehensive market segmentation, the report also throws light on the latest business scenario covering the expected as well as the historical value, in terms of volume and value, technological developments, and the top factors inducing market growth. Besides, the names of the renowned vendors with significant artisanal ice cream market share and the top strategies followed by them to stay relevant in the industry are also profiled in the MRFR report.
Scope of the Report
The scope of the report covers artisanal hand crafted ice cream trends market, along with type and various distribution channels as well as the primary regions. The MRFR’s artisanal ice cream market analysis covers the latest developments with respect to these sub-segments in the MRFR report.
Artisanal Ice Cream Market, By Type
Artisanal Ice Cream Market, By Distribution Channel
Frequently Asked Questions (FAQ) :
Artisanal ice cream market is projected to grow at a 5.95% CAGR between 2017-2025.
Europe is expected to dominate the artisanal ice cream market.
Artisanal ice cream market is predicted to touch USD 4,505.3 billion by 2025.
The conventional segment will lead the artisanal ice cream market.
Rising prevalence of diabetes and high cost may limit the artisanal ice cream market growth.