Frozen Dessert Market Size Worth $145.16 Billion By 2030 | CAGR: 5.4%
The global frozen dessert market size is expected to reach USD 145.16 billion by 2030, according to a new study by Polaris Market Research. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing popularity of convenient munching among customers for desserts is paving the way for ice creams and yogurt; therefore, it is expected to drive the growth of the industry. In addition, increasing customer awareness involving a healthy lifestyle and following specific diets with low-sugar intake is anticipated to drive the demand for vegan desserts.
Various players are introducing products in response to the growing demand for frozen desserts. For instance, in October 2019, in the U.S, Zendegii Frill Ltd. introduced its first dairy-free, whole fruit and vegetable-based frozen sweet that contains natural ingredients such as cinnamon and elderflower. Moreover, the company specifies its product as vegan, paleo diet-friendly, gluten-free, and containing no-GMO.
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The increasing trend of snacking on sweets after a meal to prevent effective digestive products is stimulating the growth of the industry. Climate change is another factor expected to generate demand for frozen sweets such as ice cream and yogurt worldwide.
The ice-creams product segment was the largest revenue share in the product category in 2021. The increasing tendency of snacking and munching among customers, especially millennials and Gen Zs, on account of time limitations is driving the demand for the segment globally.
According to a study by National Frozen & Refrigerated Foods Association in 2019, states that around 40% of millennials and 30% of baby boomers snack at least thrice a day at home. Additionally, the ease of availability of ice creams in various flavors, such as chocolate, vanilla, chocolate, strawberry, and others, will boost the demand during the forecast period.
The supermarket/hypermarket distribution channel segment is anticipated to observe the fastest growth over the forecast period. This is due to the rising penetration of retail giants such as Walmart and Costco, increasing product visibility and expanding into a more extensive consumer base. Moreover, customers’ preference to buy such products physically by verifying these products before buying is helping in increasing the sales of desserts through this channel.
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Frozen Dessert Market Report Highlights
- Ice-creams accounted for the largest revenue share in 2021. Super/hypermarkets accounted for the largest revenue share during the forecast period.
- North America is expected to grow significantly over the projected period on account of rapid urbanization, economic development, and increased focus of key players for developing technologically advanced in this region.
- The global industry is highly competitive owing to prominent players with a worldwide presence, including Nestle S.A., London Dairy Co. Ltd., Unilever, Baskin Robbins LLC, and General Mills.
Polaris Market Research has segmented the frozen dessert market report based on product, distribution channel, and region:
Frozen Dessert, Product Outlook (Revenue – USD Billion, 2018 – 2030)
- Ice-cream
- Frozen Yogurts
- Confectionary & Candies
- Others
Frozen Dessert, Distribution Channel Outlook (Revenue – USD Billion, 2018 – 2030)
- Supermarket/Hypermarket
- Convenience Stores
- Cafes & Bakery Shops
- Online
- Others
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