This market research study presents a detailed segmentation of the global ice cream market by product (impulse ice cream, take-home ice cream, and artisanal ice cream), by distribution channel (supermarkets and hypermarkets, specialist retailers, independent retailers, convenience stores, and others), and by geography (Americas, APAC, Europe, and MEA). The key vendors in the market are Blue Bell Creameries, General Mills, Mars, Nestle, Lotte Confectionery, and Unilever.
Technavio has released a new market research report on the global ice-cream market, which is expected to grow at a CAGR of more than 4% between 2016 and 2020. The growing prominence of private label brands are expected to spur the growth of this market over the forecast period. Most private label ice creams are priced lower than branded products because of their operational efficiency. Also, most major retail chains have their private label ice cream brands that they make in their dairies. Europe dominates the ice-cream market, occupying around 40% of eth overall market share. Much of this region’s growth comes from the increasing demand for innovative premium products and the launch of several new flavors.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the latest trends upcoming in this market is the development of lactose-free ice cream. People with lactose intolerance are unable to digest lactose present in milk. Consumption of lactose leads to several problems like as bloating, diarrhea, and gas. This resulted in several ice-cream manufacturers formulating their lactose-free line of ice creams to cater to this niche market of lactose-intolerant consumers. For instance, Chapman’s launched their lactose-free range of ice creams in Canada,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Vendors are coming up with new products in the market. Recently, Unilever launched 16 new ice cream products under various brands such as Breyers, Good Humor, Klondike, Magnum, and Popsicle. Similarly, in February 2016, Cado’s launched the world’s first avocado-based non-dairy ice cream. Savory ice cream flavors such as olive oil and black pepper are expected to gain popularity during the forecast period.
The leading vendors in the global ice cream market include Blue Bell Creameries, General Mills, Mars, Nestle, Lotte Confectionery, and Unilever. This market very dynamic in nature as it is subject to rapidly changing consumer preferences and demand. The market is highly fragmented because of the presence of a number of small and large vendors. The providers in the market compete in terms of product pricing, quality, innovation, service, reputation, and distribution. Therefore, to survive and succeed in this competitive environment it is imperative for the vendors to distinguish their product offerings through a unique value proposition.
A more detailed analysis is available in the Technavio report, Global Ice cream Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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