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Ice Cream & Frozen Dessert Market 2024-2033 - Size, Share, Trends & Forecast
Ice Cream & Frozen Dessert Market
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According to The Business Research Company's, The ice cream and frozen dessert market size has grown strongly in recent years. It will grow from $101.83 billion in 2023 to $108.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to consumer sweet tooth, diverse flavor options, established brands, summer seasonality, dessert culture.
The ice cream and frozen dessert market size is expected to see strong growth in the next few years. It will grow to $140.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to health-conscious consumer preferences, plant-based and vegan offerings, sustainability and eco-friendly packaging, digital marketing and e-commerce, innovative flavor combinations. Major trends in the forecast period include artisan and craft desserts, gourmet and premium offerings, protein-enriched desserts, ice cream sandwiches and novelties, international and ethnic flavors.
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Market Drivers and Trends:
The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. According to 'The Agricultural Outlook' by the OECD and FAO, global cereal production is projected to increase by 13% by 2027. Trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for food and beverage products, including ice cream and frozen desserts, due to the rising population during the forecast period.
The demand for clean-label products is increasing rapidly owing to a significant rise in consumer awareness of healthy eating. Clean-label dairy products do not contain additives, artificial flavor enhancers, dyes, or artificial preservatives. Also, many foodservice and retail grocery store chains are stating lists of ingredients that cannot be present in food items in their stores or restaurants. For instance, the USA-based yoghurt brand Siggi's Dairy introduced clean-label yoghurt pouches for children.
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Major Key Players of the Market:
Nestle S.A., Unilever plc, Danone S.A., Groupe Lactalis S.A., Frieslandcampina, General Mills, Olam International, Agropur cooperative, Land O'Lakes Inc., Meiji Holdings Co Ltd, Aavin, Abbott's Frozen Custard, Algida, Ample Hills Creamery Inc., Amul, Arun Icecreams, Australian Homemade, Bambino Ice Cream, Baskin-Robbins Homemade Holdings Inc., Ben & Jerry's Homemade Holdings Inc., Berthillon, Blue Bell Creameries, Bonnie Doon Ice Cream, Braum's Ice cream & Diary, Bresler's Ice Cream, Breyers, Calippo, Cold Stone Creamery Inc., Coolhaus, International Dairy Queen Inc., Del's, Dole Whip, Elsie Stix- Borden Diary, Fab Ice Creams, Jel Sert Company, Freaky Ice, Froster, Golden Spoon Creamery.
Ice Cream And Frozen Dessert Market 2024 Key Insights:
• The ice cream and frozen dessert market size is expected to see strong growth in the next few years. It will grow to $140.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Rising Global Population And The Implications For The Food Industry
• Rising Consumer Demand For Clean-Label Dairy Products In The Food Industry
• Western Europe was the largest region in the ice cream and frozen dessert market in 2023
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