Frozen Desserts Market Worldwide Phenomenal Growth 2020 | Size, Value Share, Demand, Latest Trend, Global Analysis and Key Players by Forecast to 2026

Market Highlights

Global Frozen Desserts Market is estimated to be valued at USD 102.90 Billion by 2026, registering a CAGR of 5.64% during the forecast period. Frozen desserts are used in various product types such as ice-cream, yogurts, cakes, and others. They are categorized into conventional & sugar-free. The rising demand for artisanal ice cream and high consumption of frozen yogurt are the key drivers boosting the growth of the global frozen desserts market.

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Asia-Pacific was the largest market for frozen dessert in 2019, and the region is expected to continue to dominate the global market during the review period. China was the largest country-level market with a share of 45.54% in 2019. However, India is projected to witness a substantial growth rate during the study period. The growth of the frozen desserts market is attributed to the shifting consumer preference for ready-to-eat products in Asia-Pacific. Additionally, the expanding product portfolios by the manufacturers of frozen desserts are one of the prime factors driving the growth of the Asia-Pacific frozen desserts market.

The global frozen desserts market is expected to register a notable growth rate during the forecast period. The wide applications of frozen desserts are driving the global market growth. Additionally, the increasing demand for artisanal ice cream across the globe is boosting the sales of frozen desserts in the food industry. Moreover, the focus on eCommerce distribution channel of frozen desserts is expected to create profitable opportunities for manufacturers. However, fluctuating raw material prices and high production costs of milk are restraining the growth of the global frozen desserts market.

Segmental Analysis

Global Frozen Desserts Market has been segmented on the basis of Product Type, Category, Distribution Channel, and Region.

By Product Type, the market has been divided into ice cream, yogurts, cakes, and others. The ice cream segment accounted for the largest market share in 2019. The high demand for frozen desserts in ice cream is expected to boost the growth of the global frozen dessert market. However, the yogurts segment is projected to be the fastest-growing segment during the forecast period.

Based on the category, the market has been segmented into conventional and sugar-free. The conventional segment accounted for a larger market share in 2019. The conventional segment consists of sugar in frozen desserts. The conventional segment growth is attributed to ease of availability and economical pricing.

Based on distribution channel, the market has been segmented into store-based and non-store based. The store-based segment has been further divided into supermarkets & hypermarkets, convenience stores, and others. The store-based segment accounted for a larger market share in 2019, with supermarkets & hypermarkets contributing to the majority of frozen desserts sales.

Key Players

Market Research Future recognizes 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) as the Key Players in the Global Frozen Desserts Market.

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Regional Analysis

Geographically, the global frozen desserts market has been segregated into North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, Asia-Pacific accounted for the dominant share of the global market in 2019, with China being the major consumer of frozen desserts. Moreover, it is expected to be the most lucrative regional market for frozen dessert manufacturers during the review period. North America's frozen desserts market also accounted for a significant share in 2019. The US is a key contributor to the growth of the frozen desserts market in the region. The Rest of the World is projected to register a CAGR of 5.79% during the forecast period.

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This release was published on openPR.