Frosting Icing Market Overview
As per MRFR analysis, the Frosting Icing Market Size was estimated at 5.39 (USD Billion) in 2022. The Frosting Icing Market Industry is expected to grow from 5.64(USD Billion) in 2023 to 8.5 (USD Billion) by 2032. The Frosting Icing Market CAGR (growth rate) is expected to be around 4.66% during the forecast period (2024 - 2032).
Key Frosting Icing Market Trends Highlighted
The increasing popularity of home baking and customized desserts is driving demand for frosting icing, particularly in developed markets. Consumers are seeking convenience and personalization in their food choices, making frosting icing an appealing option.
Frosting icing offers opportunities for innovation and customization, enabling manufacturers to cater to evolving consumer preferences. The rise of social media platforms and food influencers has increased the visibility of visually appealing desserts, leading to a growing demand for frosting icing in diverse flavors, colors, and textures.
Recent trends in the frosting icing market include the incorporation of natural and organic ingredients, gluten-free and vegan options. Consumers are becoming more health-conscious and are opting for healthier alternatives to traditional frosting icing. In addition, the use of artisanal and gourmet frosting icing is gaining traction, as consumers seek unique and premium dessert experiences. Manufacturers are leveraging these trends to expand their product offerings and meet the evolving demands of consumers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frosting Icing Market Drivers
Increasing Popularity of Home Baking
More and more people are resorting to home baking and decorating of their ready-to-eat products today. The factor that guarantees the rapid growth of the market is the development of such segments as social media and TV shows. Additionally, individuals prefer consuming foods and beverages viewed as healthy and personalized to fit their needs, and the target market in focus is not an exception. Thus, since the number of potential customers who choose to bake at home increases, the sector of producing high-end frosting and icing products will continue to expand.
Expansion of the Food Service Industry
Another key growth driver for the frosting icing market is the expansion of the food service industry, especially in emerging markets. The growing number of restaurants, cafes, and bakery chains creates a greater demand for frostings and icings. Moreover, they are used to improve the appearance and taste of a wide range of desserts and bakery products, which makes them essential for many food service providers.
Growing Health Consciousness
In recent years, there has been a growing trend of people paying attention to their health and looking for food products that are good for them. The trend is also observed in the market of frosting and icing, where people look for the products with lower sugar amount and fewer calories. One of the factors that will influence the market in the future, though, is the appearance of new frosting and icing, which will be made of natural ingredients and sweeteners.
Frosting Icing Market Segment Insights
Frosting Icing Market Frosting Type Insights
The Frosting Icing Market is segmented by frosting type, including buttercream, cream cheese, ganache, fondant, and royal icing. Among these, buttercream holds the dominant market share due to its versatility, ease of use, and ability to create various designs. Buttercream is commonly used in cakes, cupcakes, and other pastries, contributing significantly to its popularity. Cream cheese frosting, with its tangy and creamy flavor, is another popular choice, particularly in carrot cakes, red velvet cakes, and cheesecakes. Ganache, made from chocolate and cream, is often used as a glaze or filling, adding a rich and decadent touch to desserts.
Fondant, a sugar-based paste, is known for its smooth, pliable texture, making it ideal for creating intricate designs and covering cakes. Royal icing, with its hard and glossy finish, is commonly used for gingerbread houses and cookies, adding a decorative element. The market dynamics for each frosting type vary based on factors such as consumer preferences, regional tastes, and the availability of ingredients. Buttercream's dominance is expected to continue, driven by its widespread appeal and adaptability. However, the demand for other frosting types, such as cream cheese and ganache, is also projected to grow, owing to their unique flavor profiles and applications.
In terms of market size, the Frosting Icing Market revenue is projected to reach USD 6.5 billion by 2024, expanding at a CAGR of 4.5%. The increasing popularity of home baking, coupled with the growing demand for premium and indulgent desserts, is anticipated to drive market growth. Moreover, the expansion of the foodservice industry, particularly in emerging markets, is also expected to contribute to the market's growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frosting Icing Market Application Insights
The Application segment is significant as it is an area that helps boost the market growth of the Frosting Icing Market. Cakes, cupcakes, cookies, desserts, and pastries are frostings icing applications. In 2023, the cakes segment had the highest market growth, holding about 38.5% of the Frosting Icing Market revenue share. The demand for the cakes segment is due to the high interest that consumers have in celebrating their loved ones’ days of birth, reinforcing their partnership, and marriage days with a wonder birthday cakes, great buttercream sheets, and excellent decorations.
The growth of the cupcake segment is also imminent, primarily due to the increased demand for portable and on-the-go snacks. The cookies, desserts, and pastries also drive the growth of frosting icing production.
Frosting Icing Market Distribution Channel Insights
Distribution Channel Segment Insight and Overview The distribution channel segment plays a crucial role in the Frosting Icing Market. Supermarkets and hypermarkets hold a significant share of the market, driven by their wide product offerings, convenient locations, and established customer base. In 2024, the revenue from supermarkets and hypermarkets is projected to reach USD 2.4 billion, exhibiting a steady growth rate. Convenience stores are another important distribution channel, offering quick and easy access to frosting icing products.
The demand for frosting icing at convenience stores is anticipated to grow at a CAGR of 4.8% during the forecast period, reaching USD 1.2 billion in revenue by 2024. Online retailers have gained prominence in recent years, providing a vast selection and doorstep delivery. The online distribution channel is expected to witness a robust growth rate of 6.2% over the coming years, with revenue reaching USD 1.5 billion in 2024. Specialty food stores cater to consumers seeking premium and niche frosting icing products. This segment is expected to contribute USD 0.9 billion to the Frosting Icing Market revenue in 2024.
Bakeries remain an integral part of the distribution landscape, offering freshly baked goods and a personalized customer experience. The revenue from bakeries is anticipated to grow steadily, reaching USD 0.7 billion by 2024.
Frosting Icing Market Functional Properties Insights
The Functional Properties segment plays a pivotal role in driving the Frosting Icing Market growth, with a substantial share of the overall revenue. Flavor Enhancers emerge as a key driver, contributing significantly to the market value, which is projected to surpass USD 3.2 billion by 2024. These ingredients elevate the taste and appeal of baked goods, enhancing the overall consumer experience. Texture Enhancers also hold a prominent position, enabling manufacturers to create icings with desired textures, ranging from smooth and creamy to fluffy and airy.
This segment is anticipated to register a steady growth rate, meeting the evolving preferences of consumers. Decorative Elements, a crucial aspect of frosting icings, contribute to the aesthetic appeal of cakes, pastries, and other desserts. This segment is witnessing increasing demand due to the growing popularity of customized and visually appealing treats. Preservatives, essential for extending the shelf life of frosting icings, are expected to maintain a steady growth, driven by the rising demand for packaged and processed food products.
Frosting Icing Market Regional Insights
The Frosting Icing Market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest market share in 2024, followed by Europe. APAC is expected to witness the highest growth rate during the forecast period. The growth in the APAC region is attributed to the increasing demand for frosting icing in bakery products and the growing popularity of home baking. The increasing disposable income and the changing lifestyle of consumers are also contributing to the growth of the frosting icing market in the APAC region.
South America and MEA are expected to witness moderate growth rates during the forecast period. The market in these regions is expected to be driven by the growing demand for frosting icing in the food and beverage industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frosting Icing Market Key Players And Competitive Insights:
Major players in Frosting Icing Market industry are continuously investing in research and development to bring innovative products to the market. For instance, in 2023, Betty Crocker introduced a new line of frosting icings that are made with natural flavors and colors. This move is in line with the growing consumer demand for healthier and more natural food products. Leading Frosting Icing Market players are also focusing on expanding their presence through strategic acquisitions and partnerships. For example, in 2022, Smucker's acquired Jif peanut butter, which is a leading brand in the frosting icing market. This acquisition will help Smucker's to expand its product portfolio and reach new customers. The Frosting Icing Market development is being driven by several factors, including the growing popularity of home baking, the increasing demand for convenient and easy-to-use products, and the rising disposable income of consumers.
A leading company in the Frosting Icing Market is Betty Crocker. The company offers a wide range of frosting icings, including traditional flavors such as chocolate and vanilla, as well as more unique flavors such as red velvet and funfetti. Betty Crocker frosting icings are available in a variety of sizes and formats, making them convenient for both home bakers and professional pastry chefs. The company also offers a line of sugar-free frosting icings for consumers who are looking for a healthier option. A competitor company in the Frosting Icing Market is Duncan Hines. The company offers a similar range of frosting icings as Betty Crocker, but Duncan Hines also specializes in cake mixes and other baking products. Duncan Hines frosting icings are known for their rich flavor and creamy texture. The company also offers a line of organic frosting icings for consumers who are looking for a more natural option.
Key Companies in the Frosting Icing Market Include:
Frosting Icing Market Industry Developments
The Frosting Icing Market is projected to reach a valuation of USD 8.5 billion by 2032, expanding at a CAGR of 4.66% from 2024 to 2032. The rising demand for baked goods, coupled with the growing popularity of home baking, is driving market growth. Moreover, the increasing adoption of frosting icing in the foodservice industry is further contributing to the market expansion.
Recent news developments include the launch of new frosting icing flavors and varieties by major players. For instance, in 2023, Betty Crocker introduced a range of pastel-colored frosting icings, catering to the growing trend of colorful and aesthetically pleasing desserts. Additionally, the growing popularity of online cake decorating tutorials and competitions is creating a surge in demand for frosting icing among home bakers.
Frosting Icing Market Segmentation Insights
-
Frosting Icing Market Frosting Type Outlook
-
Buttercream
-
Cream Cheese
-
Ganache
-
Fondant
-
Royal Icing
-
Frosting Icing Market Application Outlook
-
Cakes
-
Cupcakes
-
Cookies
-
Desserts
-
Pastries
-
Frosting Icing Market Distribution Channel Outlook
-
Supermarkets and Hypermarkets
-
Convenience Stores
-
Online Retailers
-
Specialty Food Stores
-
Bakeries
-
Frosting Icing Market Functional Properties Outlook
-
Flavor Enhancer
-
Texture Enhancer
-
Decorative Element
-
Preservative
-
Frosting Icing Market Regional Outlook
-
North America
-
Europe
-
South America
-
Asia Pacific
-
Middle East and Africa
|
Report Attribute/Metric
|
Details
|
|
Market Size 2022
|
5.39(USD Billion)
|
|
Market Size 2023
|
5.64(USD Billion)
|
|
Market Size 2032
|
8.5(USD Billion)
|
|
Compound Annual Growth Rate (CAGR)
|
4.66% (2024 - 2032)
|
|
Report Coverage
|
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|
|
Base Year
|
2023
|
|
Market Forecast Period
|
2024 - 2032
|
|
Historical Data
|
2019 - 2023
|
|
Market Forecast Units
|
USD Billion
|
|
Key Companies Profiled
|
Tate Lyle ,Puratos ,Kerry Group ,Cargill ,Archer Daniels Midland Company ,Corbion ,Ireks GmbH ,Ulmer Spatz ,Zeelandia International ,Ingredion Incorporated ,General Mills ,Vandemoortele ,Dawn Food Products, Inc. ,BakeMark ,CSM
|
|
Segments Covered
|
Frosting Type ,Application ,Distribution Channel ,Functional Properties ,Regional
|
|
Key Market Opportunities
|
Growing health consciousness Increasing demand for convenient and readytouse products Expansion into emerging markets Rising disposable income Technological advancements in frosting icing production
|
|
Key Market Dynamics
|
Rising popularity of home baking Growing demand for convenience foods Increasing health consciousness Expanding application in confectionery industry Technological advancements
|
|
Countries Covered
|
North America, Europe, APAC, South America, MEA
|
Frequently Asked Questions (FAQ) :
The Frosting Icing Market is expected to reach a valuation of USD 5.64 billion in 2023.
The Frosting Icing Market is projected to reach a valuation of USD 8.5 billion by 2032, exhibiting a CAGR of 4.66% during the forecast period from 2023 to 2032.
North America is expected to remain the dominant region in the Frosting Icing Market throughout the forecast period, owing to the presence of major market players, high disposable income, and increasing demand for convenience and processed foods.
The bakery segment is expected to witness the highest growth rate in the Frosting Icing Market, driven by the increasing popularity of home baking and the growing demand for indulgent treats.
Some of the key competitors in the Frosting Icing Market include Dawn Food Products, Inc., Puratos Group, CSM Bakery Solutions, and Ingredion Incorporated.
The growth of the Frosting Icing Market is primarily driven by the rising demand for convenience foods, the increasing popularity of home baking, and the growing awareness of the health benefits associated with frosting icing.
The Frosting Icing Market faces challenges such as fluctuating raw material prices, intense competition, and the need for continuous innovation to meet changing consumer preferences.
Key trends shaping the future of the Frosting Icing Market include the growing adoption of clean label ingredients, the increasing demand for personalized and customized products, and the emergence of e-commerce platforms.
The COVID-19 pandemic had a significant impact on the Frosting Icing Market, leading to disruptions in supply chains and a decline in demand from the foodservice sector. However, the market is expected to recover in the post-pandemic period as consumers return to their pre-pandemic eating habits.
The Frosting Icing Market is expected to witness steady growth in the coming years, driven by the increasing demand for convenience foods, the growing popularity of home baking, and the expanding presence of organized retail.
