ID: MRFR/F-B & N/0991-CR | September 2020 | Region: Global | 130 pages
Global Frozen Dessert Market is expected to register a CAGR of 5.64% to reach USD 102.90 Billion by 2026. Frozen desserts are produced by freezing liquids, semi-solids, and sometimes even solids. They are referred to as desserts that need to be stored below the freezing point of the water. Frozen desserts use vegetable fats such as edible vegetable oil or palm oil instead of milk fat, which makes them healthier with no cholesterol and lower saturated fat. The examples of frozen desserts are pudding, custards, and ice cream cake.
High consumption of frozen yogurt is one of the important factors driving the global frozen desserts market. Frozen yogurt is one of the most popular frozen desserts consumed across the globe. Yogurt delivers on desirable attributes, including nutrition and digestion, and comes in a wide variety of flavors to satisfy the needs of all age groups. Frozen yogurt contains carbohydrates, proteins, and vitamins, and it also packs a healthy dose of calcium, which aids in the strengthening of bones, keeping the heart in good shape, and helps in losing weight.
The COVID-19 pandemic has created a global crisis across the world. The outbreak of COVID-19 has created a panic situation among the consumers with temporary closures of retail stores in an attempt to slow the spread of the virus. This led to panic purchasing among the consumers as they got involved in pantry stockpiling of longer shelf life food products such as frozen desserts. The COVID-19 outbreak does not impact the prices of frozen desserts, but it is estimated that the prices will spike post the lockdown period. The manufacturers are expected to increase the prices of frozen desserts owing to the increase in operational cost, raw material costs, and to overcome the losses caused due to the pandemic.
Global Frozen Desserts Market is expected to register a notable growth rate during the forecast period. Rising demand for artisanal ice cream is expected to fuel the sales of frozen desserts among the consumers. Increasing consumption of frozen yogurt across the globe is another key factor boosting the sales of the global frozen desserts market. The introduction of specialty frozen desserts is expected to create profitable growth opportunities for the vendors operating in the global market. However, fluctuating raw material prices and high production cost of milk are the major restraints for the market growth as they affect the prices of the product.
Global Frozen Desserts Market Revenue, By Product Type, 2019 (USD Million)
Sources: MRFR Analysis
The conventional segment accounted for the major share in 2019 and is expected to expand at a substantial CAGR and reach USD 88.82 billion by the end of 2026. The conventional segment consists of sugar in frozen desserts. The demand for conventional desserts is attributed to ease the availability and economical pricing. However, the sugar-free segment is projected to exhibit the highest CAGR during the forecast period.
Global Frozen Dessert Market Share, By Region, 2019
Sources: MRFR Analysis
Asia-Pacific accounted for the largest market share of 35.24% of the global frozen desserts market in 2019. The growing popularity of health and nutritional supplements is anticipated to influence the growth of the frozen desserts market in Asia-Pacific. North America is an attractive region for the manufacturers of frozen desserts. The expanding product portfolio of frozen desserts by the key manufacturers is one of the significant factors boosting the adoption of frozen desserts in North America. Europe also accounted for a significant share of the frozen desserts market in 2019. The trend of adopting a healthy lifestyle is rapidly increasing among the consumers, which is fueling the growth of the regional market.
The Prominent Players operating in the Global Frozen Desserts Market include General Mills Inc. (US), Nestlé SA (Switzerland), DD IP Holder LLC (US), Conagra Brands, Inc. (US), Unilever (UK), Dairy Queen (US), Danone SA (France), Ferrero (Luxembourg), Kellogg Company (US), and London Dairy Co. Ltd (UK).
The players operating in the Global Frozen Desserts Market are focusing on acquisitions, product launches, and expansions to strengthen their market position and capture a large customer base.
Global Frozen Dessert Market, By Product Type
Global Frozen Dessert Market, By Category
Global Frozen Dessert Market, By Distribution Channel
Global Frozen Dessert Market, By Region
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Frequently Asked Questions (FAQ) :
Frozen Dessert Market CAGR would be 5.64% during the forecast period.
Frozen Dessert Market valuation would be USD 102.90 Billion by 2026.
The distribution channels in the frozen Frozen Dessert Market are store-based and non-store-base.
Frozen Dessert Market had a discussion of categories like sugar-free and conventional.
The types discussed in Frozen Dessert Market report are cakes, ice creams, yogurts, and others.