Press release
Ice Cream Market Global Industry Historical Background, Industry Structure, Development and Sector Opportunities Till 2028
The Ice Cream Market is projected to reach US$ 1,21,022.15 million by 2028 from US$ 90,272.08 million in 2021. It is expected to grow at a CAGR of 4.3% from 2021 to 2028.Functional ice cream has become a popular product among health-conscious consumers due to the presence of high-quality ingredients, and it fulfills consumers' nutritional requirements more than regular ice cream. Traditional ice cream contains nutritional properties and various health benefits. So, the increasing interest of ice cream manufacturers in fortification and the addition of functional ingredients may influence the consumer's decision to select a healthy alternative.
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Analysis of the Top Market Players:
1. Unilever
2. Nestl?
3. General Mills Inc.
4. Mars, Incorporated
5. LOTTE CONFECTIONERY CO., LTD
6. Wells Enterprises
7. Baskin-Robbins
8. Turkey Hill Dairy
9. Dairy Farmers of America, Inc.
10. Blue Bell Creameries
In this report, the market has been segmented on the basis of:
Flavor (Vanilla, Chocolate, Fruit, and Others)
Category (Sugar-free and Conventional)
Form (Cups & Tubs, Bars & Sticks, and Others)
Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Beyond basic nutrition, functional food provides advantages that can help lower or prevent the risk of certain diseases. Moreover, sugar-free, low-fat functional ice creams are gaining huge popularity due to their health benefits. The COVID-19 pandemic further influenced the demand for functional ice cream, and manufacturers are taking advantage of this opportunity. Low-sugar and high-protein ice cream have become especially popular with athletes and consumers looking for non-staple food and beverage products with better nutritional content. For example, Halo Top offers ice cream made from all-natural ingredients that are low in calories, low in sugar, and high in protein.
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The global popularity of functional ice cream is majorly driven by product innovations, especially in terms of taste profile and nutritional value. For instance, in 2020, ice cream brand Dairy Day launched Dairy Day Plus, a range of ice cream with immunity-boosting ingredients. In the launch phase, the company has introduced Haldi (turmeric) flavor ice cream and Chyawanaprash ice cream. These products were launched to help consumers follow and maintain their health goals and enjoy a good meal simultaneously as health became a priority for consumers during the COVID-19 crisis. Because people have started focusing on convenience food products while maintaining the nutritional balance in their diets, manufacturers are launching nutritionally enriched frozen desserts.
Based on the distribution channel, the ice cream market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment accounted for the largest share of the ice cream market in 2020. However, the specialty stores segment is expected to register the highest CAGR during the forecast period. Supermarkets and hypermarkets are prominent distribution channels for ice cream.
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