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The frozen desserts market size is estimated to grow at a CAGR of 6.21% between 2022 and 2027. The frozen desserts market size is forecast to increase by USD 22.09 billion. The growth of the market depends on several factors, including rising urbanization and changing consumer lifestyles, expansion in the retail landscape of frozen desserts, and introduction of vegan products.
The global frozen desserts market report extensively covers market segmentation by product (gelato, frozen novelties, frozen yogurt, sherbet and sorbet, and others), distribution channel (supermarkets and hypermarkets, specialty stores, convenience stores, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising urbanization and changing consumer lifestyles are notably driving market growth, although the increasing prevalence of obesity and related diseases among consumers impedes market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising urbanization and changing consumer lifestyles are notably driving the market growth. Some of the key drivers for the market are the growing global urban population and increasing demand for convenient breakfast foods. Over the past two decades, consumer lifestyles and eating habits have changed significantly. Urbanization and consumerism have driven this change, resulting in a rapid increase in the consumption of frozen and packaged foods such as frozen desserts. Europe and emerging countries in Latin America and APAC will prove to be attractive markets for frozen desserts during the forecast period. Increased global urbanization is leading to higher living standards and higher disposable incomes. However, a busy life leads to poor health and lifestyle-related diseases due to unhealthy eating habits. There is also an increasing tendency to eat dessert for lunch and dinner.
With increasing urbanization, the food and beverage industry is experiencing significant growth around the world. The world's urban population will grow from 746 million in 1950 to 4.46 billion in 2021. By 2050, an estimated 2.5 billion people will live in urban and semi-urban areas, a 90% increase in Asia and Africa. This increase in urbanization will increase the consumption of frozen desserts, driving the growth of the market during the forecast period.
The consumption of frozen yogurt as a functional food is a key trend influencing the market growth. Functional foods are foods that contain active microbial compounds. This food category has gained popularity among consumers around the world. Functional foods are very popular in Japan and Western countries. These foods are in high demand in APAC and North American countries due to the growing awareness of healthy living and adherence to healthy eating habits. Aging consumers require foods that are functional and can provide positive nutritional benefits to meet their age-related needs. Therefore, the demand for functional foods in this consumer group is higher than in other categories. Functional foods contain one or more additional ingredients that allow the food to perform additional functions. These additional ingredients are generally intended to provide health benefits to the consumer.
Frozen yogurt contains probiotics that inhibit the growth of other harmful bacteria. Prebiotics and probiotics are high in frozen yogurt because they may improve liver health, prevent colon cancer, improve oral health, and cure irritable bowel syndrome. Rising awareness of the health benefits of frozen desserts, such as frozen yogurt, is expected to boost the growth of the market during the forecast period.
The increasing prevalence of obesity and related diseases among consumers is challenging the frozen desserts market growth. Growing obesity and other lifestyle issues among consumers are one of the challenges to the growth of the market. Obesity causes a variety of health problems and diseases, including high blood pressure, diabetes, joint problems, etc. Adults with a BMI between 25 and 29.9 are considered overweight, and adults with a BMI greater than 30 are considered obese.
Obesity and related problems affect more than one-third of the world's population. According to the Centers for Disease Control and Prevention (CDC), about 39.80% of the adult population in the United States over the age of 20 is obese. The global rise in obese people is forcing consumers to reduce their consumption of processed foods, including ice cream, and this factor is expected to negatively impact the growth of the featured market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Frozen Desserts Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Andros SNC: The company offers different types of products, such as jams, preservatives, apple sauce, and many more. It also offers frozen desserts under its brand Andros Chef.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the gelato segment will be significant during the forecast period. Consumption of gelato is on the rise, especially among young adults looking for a refreshing snack. The artisanal ice cream sector, on the other hand, is growing the fastest due to changing customer preferences toward products made with natural ingredients. This segment is expected to be driven by increasing consumer spending on fast food, intensive research and development activities for the production of unique product variations, and product availability.
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The gelato segment was valued at USD 24.36 billion in 2017 and continued to grow until 2021. Urbanization and rising disposable income are expected to significantly contribute to the growth of the gelato segment while boosting the growth of the global frozen desserts market during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Demand for frozen desserts is increasing in North America, with the United States being the largest North American frozen desserts market by revenue in 2022. Some of the factors expected to contribute to the expansion of the North American frozen dessert market during the forecast period are an increase in the number of new product launches and an increase in investment by market players. Market suppliers are also investing in expanding production capacity in North America to meet the growing consumer demand for frozen desserts. In North America, growing consumer health concerns have increased the demand for low-fat, plant-based frozen desserts such as ice cream. Growing consumer demand for low-calorie ice cream is evident in the growth in sales of these products. These factors are expected to boost the growth of the regional frozen desserts market during the forecast period.
The COVID-19 pandemic impacted the economies of several North American countries in 2020. Governments in countries such as the United States, Canada, and Mexico have imposed restrictions such as nationwide lockdowns and stay-at-home orders related to COVID-19, temporarily shutting down various industries, including those making frozen desserts. In addition, supply chains were disrupted at manufacturers due to shortages of personnel and raw materials. The closures have negatively impacted manufacturing and distribution activities, resulting in an increase in online sales. Consequently, such factors are expected to boost the growth of the regional frozen desserts market during the forecast period.
The frozen desserts market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global frozen desserts market as part of the global packaged foods and meats market, under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats products market includes food processing manufacturers or suppliers involved in food processing to eliminate microorganisms and extend shelf life. Technavio calculates the global packaged foods and meats market size based on the total revenue of the vendors operating in the market.
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Frozen Desserts Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.21% |
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Market growth 2023-2027 |
USD 22.09 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.54 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key countries |
US, China, Germany, UK, and Italy |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Andros SNC, AO Molochny kombinat Stavropolskiy, Binggrae Co. Ltd., Coolhull Farm, Dairy Farmers of America Inc., FAT Brands Inc., Fonterra Cooperative Group Ltd., General Mills Inc., Heritage Foods Ltd., IDMC Ltd., Inspire Brands Inc., Karnataka Milk Federation, Meiji Holdings Co. Ltd., Mondelez International Inc., Nestle SA, Regal Cream Products Pty Ltd., Tofutti Brands Inc., Unilever PLC, Yogurtland Franchising Inc., and Yasso Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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