Soft Serve Ice Cream Machines Market is estimated to reach $962.5 million by 2031, Region wise, Europe was the highest revenue contributor
A new report published by Allied Market Research, titled, "Soft Serve Ice Cream Machines Market," The soft serve ice cream machines market size was valued at $665.00 million in 2021, and is estimated to reach $962.5 million by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
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Soft serves ice cream and other frozen desserts such as frozen yogurt and sorbet are ideal for soft serve machines' ability to provide a light and fluffy texture. For small companies or cafes that aim to provide a wide variety of frozen delicacies, these types of equipment are ideal as they are quite simple to use. Although there are different types of soft serve machines available, they may generally be divided into four groups based on their capacity, amount of flavor options, feed mechanism, and cooling system.
Sales of soft serve ice cream machines have increased dramatically as they use a more hygienic procedure than manual ice cream makers. Soft serve ice cream machines provide the best experience to their customers in the form of taste, flavors, and prices. In addition, since the majority of frozen food products is consumed by children and younger generation, rising disposable income is fueling the expansion of the soft serve ice cream machine. Another significant element that is anticipated to increase sales of the soft serve ice cream machines is consumers' need for dessert after meals. Thus, all of these soft serve ice cream machines market trends are creating soft serve ice cream machines market opportunities for the market growth.
According to soft serve ice cream machines market analysis, the global soft serve ice cream machines market is segmented on the basis of price range, application, distribution channel, and region. By price range, the market is divided into premium and mass. Among these, the mass segment occupied the major soft serve ice cream machines market share in 2021, and is projected to maintain its dominance during the soft serve ice cream machines market forecast period.
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The soft serve ice cream machines market growth is greatly aided by consumers from the lower middle class and higher middle class purchasing more mass-market products. As per application, the market is fragmented into entertainment venue, catering industry, ice cream parlors, and others. The catering industry segment is anticipated to grow at a moderate rate during the forecast period. Catering businesses can be as little as one person working out of a single location to a large enterprise with numerous locations. This industry's growing demand for ice cream is to be accountable for the segment's expansion. This is indirectly creating soft serve ice cream machines market demand during the forecast period.
On the basis of distribution channel, it is classified into online and offline. The online segment is anticipated to grow at the highest CAGR during the forecast period. Customers are encouraged to purchase soft serve ice cream machines online due to increase in number of promotions or discounts as well as increase in popularity of various internet portals & applications for buying soft serve ice cream machines such as Amazon and Flipkart in developing nations.
The region that dominated the global market in 2021 was Europe. The market is expected to be dominated by Europe in the next few years as a result of key regional companies investing in ice cream manufacturing equipment.
Exporters in both developed & developing nations faced a number of difficulties as a result of the COVID-19 pandemic. The implementation of lockdown & curfew on a global scale had an impact on both domestic and foreign manufacture of soft serve ice cream machines, which in turn, hindered the market expansion. As a result, the COVID-19 pandemic had a negative influence on the soft serve ice cream machines market in 2020 as a result of decreased company sales and operations being suspended.
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The major players analyzed for the global soft serve ice cream machines industry are Carpigiani Group, Catta 27, Donper USA, Electro Freeze, Frigomat, GEL Matic Italia Srl, ICETRO America Inc., Oceanpower America LLC., Spaceman USA, Stoelting, Technogel, Tekno-Ice, Tetra Pak, The Middleby Corporation, and Vollrath Company LLC.
KEY FINDINGS OF STUDY
>By price range, the mass segment was the highest revenue contributor to the soft serve ice cream machines market size, with $426.7 million in 2021, and is estimated to reach $603.5 million by 2031, with a CAGR of 3.6%.
>By application, the ice cream parlors segment was the highest revenue contributor to the market, with $250.7 million in 2021, and is estimated to reach $345.8 million by 2031, with a CAGR of 3.3%.
>Depending on distribution channel, the offline segment was the highest revenue contributor to the market, with $571.2 million in 2021, and is estimated to reach $836.1 million by 2031, with a CAGR of 3.9%.
>Region wise, Europe was the highest revenue contributor, accounting for $249.6 million in 2021, and is estimated to reach $348.6 million by 2031, with a CAGR of 3.4%.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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