The global frozen dessert market size is expected to reach USD 135.0 billion by 2025, expanding at a CAGR of 5.4%, according to a new report by Grand View Research, Inc. Increasing demand for frozen dessert products across the globe, rising disposable income, growing trend of consuming frozen desserts after meal as an effective digestive product, and climate change are the key factors for industry growth.
These desserts are mainly made up of milk compounds, vegetable fats, along with a mixture of flavors and dry fruits. Rising awareness regarding health benefits of these products is also driving the market. Climate change is another factor likely to create high demand for desserts such as ice cream and yogurt on a global scale. It is estimated that the demand for ice-creams alone can easily go up to 50% in hot day and drop 20% if the weather is bad. Customers believe that they eat ice creams just to cool down their body temperature in hot climate, thereby fueling the growth of the market.
North America was the largest regional market in the year 2018 owing to growing demand for ice creams in the region. In 2018, U.S. was the largest market that accounted for 91.6% share in the North America market. Changing lifestyle, along with increasing health consciousness, is fueling the growth of this market. Frozen yogurt is the most popular product under this segment, having more than 400 brands that offer numerous flavors to consumers.
Considering this, the United States Department of Agriculture (USDA) initiated several projects to promote the consumption of yogurt and related products across the region. Low-fat yogurt is a great source of calcium and is increasingly promoted by the organization for health and nutrition. Asia Pacific is expected to emerge as the fastest growing regional market in the forecast period. Growing urban population, changing lifestyle, rising disposable income, and changing weather conditions are some of the major factors driving the market in this region.
Further key findings from the study suggest:
- By product, frozen yogurt is projected to expand at a CAGR of 6.8% over the forecast period
- Based on distribution channel, the supermarket/hypermarket segment held a revenue share of 43.1% in 2018
- S., Italy, Germany, Japan, India, Brazil, and South Africa for frozen desserts market are the major countries which holds the largest share in their respective regions.
Grand View Research has segmented the global frozen desserts market on the basis of product, distribution channel, and region:
Frozen Desserts Product Outlook (Revenue, USD Billion, 2015 - 2025)
- Confectionary & Candies
- Ice Cream
- Frozen Yogurt
- Others
Frozen Desserts Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
- Supermarket/Hypermarket
- Convenience Stores
- Cafes & Bakery Shops
- Online
- Others
Frozen Desserts Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment