A prominent research firm, Cognizance Market Research added a cutting-edge industry report on “Frozen dessert Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2020 to 2028.
Frozen dessert Market Analysis
According to cognizance market research, the frozen dessert Market was valued at USD 98.00 Billion in 2019 and expected to register a CAGR of 5.4% from 2021 to 2028.
What is frozen dessert?
Frozen dessert is a dessert made up of freezing liquids and semi-liquids. These are based on flavored water, custard, milk, cream, and others. Frozen desserts are highly dependent on milk production. Instead of milk fat, frozen desserts use vegetable fats like edible vegetable oil or palm oil, which are lower in saturated fat and cholesterol. In recent years, several innovative products in the frozen bakery and desserts category have been introduced. Consumers have become increasingly concerned about their health and well-being. This has resulted in the introduction of novel types, as well as low-fat, gluten-free goods, which are anticipated to have an effect on market dynamics over the forecast period.
Frozen dessert Market Outlook
In the Frozen dessert report, the market outlook segment mainly includes important dynamics of the market which include drivers, restraints, opportunities, and challenges tackled by the industry. Opportunities and challenges are extrinsic factors whereas, drivers and restraints are intrinsic factors of the market.
The key drivers of the market are changing climate conditions and the nutritional content of the commodities. Similarly, the increasing diversification of commodities in the market can also be considered an important factor in market growth. Frozen Yogurt is one of the famous and most consumed products in the United States. Increasing innovation with respect to eliminating health concerns is driving the market rapidly. The introduction of commodities like lactose-free ice creams is increasing the consumer base rapidly. The numerous benefits associated with wine are ultimately boosting the growth of Frozen dessert demand globally.
Consumers with lactose intolerance in nature will also avoid consuming the frozen dessert commodities which can further hamper the market. Various health organizations have released reports stating the increase in health issues mainly due to unhealthy work culture and lifestyle. Consumers dealing with diabetics, thyroid, etc. are instructed to avoid frozen dessert products. Nowadays people prefer low-calorie food further making them diet conscious and henceforth, affecting the market growth. Veganism can also be considered as a potential threat for market growth as many health freaks and animal lovers are reducing and condemning the consumption of animal and milk-related products.
Increasing health concerns among the people will increase the market growth for sugar-free frozen dessert products. The habit of having dessert after a meal will increase the demand for frozen desserts. Consumers love to have ice cream after meals. It is evident that global warming is on the rise further resulting in shifting the preferences of the consumers towards frozen dessert commodities. Similarly, rapid change in consumer lifestyle and preferences is also leading to increased demand for frozen desserts in the near future. The introduction of various flavors as per consumer tastes in yogurts has greater potential for increasing the consumer base. The existing fast-paced and work-life in various metro cities in inducing consumers to choose frozen dessert commodities mainly due to feasibility. Similarly, increasing mental health awareness can also be perceived as a potential opportunity for the market. Post pandemic there will be a surge in the demand for frozen desserts commodities.
According to WHO, there are 420 million people who are diabetics. So, the dessert industry can increase the productivity of sugar-free desserts and influence market growth. The health benefits of yogurt will also immense the growth of the frozen dessert market. Frozen yogurt contains beneficial nutrients and bacteria, lower levels of lactose, and fewer calories. These health benefits can increase the market growth of the frozen market.
The report offers the revenue of the frozen dessert market for the period 2018-2028, considering 2018 and 2019 as a historical year, 2020 as the base year, and 2021 to 2028 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the frozen dessert market for the forecast period. The Frozen dessert market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the frozen dessert market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the frozen dessert market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the global frozen dessert market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature review, press releases, annual reports, white paper, and relevant documents have been also studied to understand the global frozen dessert market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segmented included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the frozen dessert market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the frozen dessert market. The subsequent section of the frozen dessert report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Countries with higher production of milk have an equally proportionate market share for frozen desserts in the market. North America is seen to capture the highest share of the regional market globally. Similarly, countries with a higher share of youths and working-age populations are observed to have a significant consumer base. The Asia Pacific is observed to see many countries and cities that are growing at a fast-paced rate and becoming major workforce hubs. These regions are expected to have an increasing demand for the market. Increasing urban population, changing lifestyles, and increase in income throughout these countries will lead to an increase in the market. India, Brazil, South Africa, Germany, and Italy can be considered as potential players mainly due to their demographic features and climate conditions. In the European region countries like the United Kingdom, the Netherlands, Belgium, Spain, and Denmark have existing shares in the market. In terms of the South American region Venezuela, Argentina. Peru and Columbia have a strong market share. The market is also strongly observed in Middle East countries like Saudi Arabia and Israel.
Frozen dessert Market Competitive Landscape
The “Frozen dessert Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Nestle, Unilever, General Mills, Van’s Foods, Kellogs, Dairy Queen, London Diary, and Amul among others.
The report explores the competitive scenario of the frozen dessert market. Major players operating in the frozen dessert market have been identified and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the frozen dessert market report.
Key Questions Answered in Frozen dessert Market Report
- What are the major players operating in the frozen dessert market?
- What are trends, drivers, opportunities, and challenges in the frozen dessert market?
- Which is the leading country in the frozen dessert market?
- What are the revenue share forecasts of key sections of the frozen dessert during the estimated timeframe?
- Which segment is expected to lead the frozen dessert market in terms of revenue by 2030?
- How partnerships & alliances among companies operating in the market are broadening the scope of the frozen dessert market?
- Who are the top 5 leaders of the frozen dessert market?
- Which unmet needs will remain unaddressed over the projected period?
The Frozen dessert Market has been segmented as below:
Frozen dessert Market, by Product
- Cold drink
- Ice cream
- Flavoured Milk
Frozen dessert Market, by distribution channel
- Offline (Specialty Stores, Dairy, Mega Retail Stores and Others)
Frozen dessert Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa