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Chocolate Ice Cream Market Overview:
Chocolate ice cream market size and revenue were high in the previous period, but as the demands are increasing, the market size is expected to rise up to USD $31.70 Billion by the end of 2030, with a growth of a CAGR value of 5.5%.
Chocolate ice cream has been a favorite flavored frozen dessert that people love unconditionally. There are natural and artificially flavored ice creams under this category that are being sold to a larger audience, irrespective of the regional barriers. There is a specified process for preparing chocolate ice creams in factories. The factories have machines to blend the cocoa powder with cream, sugar, and eggs to mass-produce chocolate ice creams. Some of the key players or top brands make use of chocolate liquor with cocoa powder to bring out a much darker taste of the chocolate.
The chocolate ice cream market is therefore booming for the past few years. And, with the rising demands, the growth is predicted to be constant for the top brands and the entire market. The key players across the globe are trying and adapting more taste-oriented improvements to their products for ensuring the health and taste aspects altogether. The facilities or ice cream factories are also being improved to meet the rising demand with ample supply.
The report focuses on the overall growth aspects of the global chocolate ice cream market analysis. It highlights the overall market segmentation, regional analysis, and competitor analysis for elaborating upon the market presence. Along with that, this report also focuses on enlightening the market dynamics that define the stability of the global chocolate ice cream market.
COVID 19 Analysis
COVID 19 did bring a halt to the global chocolate ice cream market in quite some ways. The demand for these flavored ice creams was somehow reduced because people were trying to avoid consuming cold and frozen items to avoid getting COVID symptoms. This fear amongst the people suppressed the sales count, and the key players experienced loss back in the year 2020.
Apart from the sales hampering, the workers within ice cream factories also abided by the lockdown rules that suppressed the supply phase. Therefore, even when the COVID effect upon the minds of people was slowly fading, the dedicated companies were not able to manufacture chocolate ice creams on demand. Therefore, there was a negative impact on the entire market. But over time, the COVID effects are coming under control, and the demands are accelerating yet again.
Major Drivers of The Market
Significant Opportunities For The Market
- As the COVID effects are taking a down toll around maximum countries of the globe, the chocolate ice cream market demand is now restored. Therefore, the key players are utilizing the market driving potential to help the global chocolate ice-cream market grow.
- The key players putting in efforts to bring in new products and more options for consumers is one of the important drivers of the chocolate ice-cream market. Apart from that, it is noticed that people are impulse buying chocolate ice creams on a high count, which is also one of the major drivers for the global market.
- Rapid urbanization and an increase in per capita disposable income are expected to help the global chocolate ice cream industry boom in the present forecast years. The key players are putting in collective effort to utilize this scope and opportunity.
- Consumers are seeking different chocolate ice cream products. And the key players have this opportunity to increase the availability quotient for their respective products to help the global chocolate ice cream market grow.
Market Growth Challenges
- With major market drivers, there are certain restraints as well that is somehow hampering the demand cycle of the global chocolate ice cream industry from one edge.
- The rising health concerns on consuming artificial additives are somehow hampering the market demands for ice creams. Apart from that, the consumers usually go through a rapid change of taste, which is yet another possible reason that might hinder the market growth.
Cumulative Growth Analysis
- After COVID 19, people are quite concerned about consuming cold and frozen items to prevent certain symptoms. Therefore, the key players have to put in more effort to market and promote the products to increase sales.
- Apart from that, the key players also need to decide upon a uniform flavor-oriented pricing to keep it affordable as compared to other ice cream flavors. Some consumers prefer to go for the flavors that are less priced if the chocolate option seems high-priced. Hence, it is one of the growth challenges that the key players need to overcome in the present forecast years.
- The demand for chocolate ice creams has always been higher than other competitive flavors in the market. Even though there are some marker restraints and growth challenges, the key players are ideally looking for relevant solutions to overcome them.
- Keeping the efforts in mind, implemented by the key players of the global chocolate ice cream industry, the market size is expected to grow impeccably high in the present forecast years with a growth percentage of CAGR 4.70%.
By Distribution Channel
- Based on type segmentation, the global chocolate ice cream industry is divided into different types to meet the diverse requirements and demands of consumers.
- The chocolate ice cream types include sticks or bars, cones, cups, bricks, tubs, and others. These are different ways in which chocolate ice cream is served to consumers, based upon their choice and desire. New sticks or bars are being introduced to the market, which is expected to drive the market demand.
- Based on the distribution channel segmentation, the global chocolate ice cream market decided upon where to sell the demanding products.
- The distribution channels for the chocolate ice cream market are supermarkets, hypermarkets, specialty stores, convenience stores, and others. Different distribution channels ensure that the consumers get their desirable ice cream type easily without hassle.
- Based on the regional classification, the global chocolate ice cream industry is widely spread across various regions of the globe. The regions include Europe, Asia-Pacific, and other parts of the world.
- Asia-Pacific held the largest chocolate ice-cream market share amongst all in the year 2017 with 37.3% market share. But, the North American chocolate ice cream indusry is predicted to generate even higher revenue by the end of 2023, as the demands have been recorded to be constantly increasing since past reports.
The key players of the global market are:
- Nestle S.A.
- General Mills, Inc.
- Unilever PLC
- Jude’s Ice Cream
- Straus Family Creamery
- Halo Top Creamery
- Gujarat Cooperative Milk Marketing Federation Ltd.
These are the prominent key players of the global market that are contributing immensely to increasing the growth, demand, and supply of chocolate ice creams around their respective regions. Nestle SA is one of the top names on the list of best key players in the global market. The company is planning on putting up more product launches and expand global footprint by reaching out to less demanding regions and exploring the market.
- The Food Safety and Standards Authority of India (FSSAI) planned and imposed labeling requirements upon frozen desserts back in 2020.
- Food Union (Global Dairy Production and Distribution Group) launched over 100 novel dairy frozen goods in June 2020.
- Dairy Day launched Dairy Day Plus, i.e., a range of ice cream products consisting of immunity-boosting ingredients, in June 2020.
- In October 2020, Amul proposed the launch of new ice cream made out of camel milk. It is made up of pure camel milk without any additives. It is for the consumers who are more health-conscious about consuming fewer fats.
The global chocolate ice cream market outlook or overview is as follows:
- Market Overview
- COVID 19 Analysis
- Market Dynamics
- Segment Overview
- Regional Analysis
- Competitive Landscape
- Recent Developments
This report has a clear focus on highlighting the growth aspects of the global chocolate ice cream market. Along with that, this report also intends to put up the competitive landscape and recent developments on the table to explain the position of this global market.
The market segmentation highlights in the global chocolate ice cream market analysis are as follows:
- Sticks or Bars
- Cups, Bricks, and Tubs
By Distribution Channel:
- Convenience stores
- Supermarkets or Hypermarkets
- Specialty Stores
Chocolate Ice Cream Market Highlights:
Frequently Asked Questions (FAQ) :
The North American region is expected to generate high revenue and hold a higher chocolate ice cream market share by 2023 due to increased demands around the region.
The overall growth percentage for global chocolate ice cream market is CAGR 4.70%.
The sticks and bars being introduced by the key players are intended to drive the market growth with high potential.
Key Questions Answered
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- ✅Global Market Outlook
- ✅In-depth analysis of global and regional trends
- ✅Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅To understand the capability of the major players based on products offered, financials, and strategies.
- ✅Identify disrupting products, companies, and trends.
- ✅To identify opportunities in the market.
- ✅Analyze the key challenges in the market.
- ✅Analyze the regional penetration of players, products, and services in the market.
- ✅Comparison of major players’ financial performance.
- ✅Evaluate strategies adopted by major players.
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