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The gourmet ice cream market size is estimated to grow at a CAGR of 14.32% between 2022 and 2027. The market size is forecast to increase by USD 8,851.79 million. The growth of the market depends on several factors, including the increasing health benefits of gelato, the increasing number of innovative flavors and diet-friendly ice creams, and the significant increase in disposable income.
This gourmet ice cream market report extensively covers market segmentation by product (gelato, sorbet, frozen custard, and others), distribution channel (offline and online), and geography (Europe, North America, 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 increasing health benefits of gelato are notably driving the market growth, although factors such as fluctuating prices of raw materials may impede the 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 increasing health benefits of gelato are driving the growth of the market. Representing a significant portion of the global gourmet ice cream market, gelato is a healthier alternative to the usual traditional ice cream flavors. Also, Italian-born gelato is very light and fragrant. Growing awareness of the health benefits of consuming ice cream and rising health-conscious consumers in key markets such as North America and Europe have been the major drivers of ice cream growth in the gourmet ice cream market over the past five years.
The sugar contained in gelato is mainly in the form of sucrose, which does not significantly increase the glycemic index. So even diabetics can consume a moderate amount of gelato. Also, gelato is enriched with B vitamins, calcium, and phosphorus to help strengthen bones. Therefore, increasing the health benefits of gelato is expected to drive the growth of the global gourmet ice cream market during the forecast period.
The increasing demand for premium products is identified as the key trend shaping the market. Consumers are demanding premium products that are of higher quality and feature specific origins, subtle flavors, and exotic and ethical ingredients. Improving consumer lifestyles due to rising disposable income and increasing health awareness are driving the demand for premium and gourmet ice cream products.
Many suppliers on the market are launching premium gourmet ice cream series aimed at elite customers. Ice cream makers are experimenting with new flavors and ethnic ingredients to suit consumer tastes. New premium ice cream products with reduced sugar and fat content are gaining popularity among consumers. Therefore, increasing demand for premium ice cream products is expected to drive the growth of the global gourmet ice cream market during the forecast period.
The fluctuating price of raw materials may impede the growth of the market. The global gourmet ice cream market faces challenges due to volatility in raw material prices. Skim milk, cream, sherbet, sugar, and fruit are some of the key ingredients required to make gourmet ice cream.
Rising prices for these commodities will affect a company's profitability if it cannot pass on the price increase to consumers. Moreover, the failure of companies to absorb price increases will lead to consumer price increases and affect consumer purchasing behavior. This hampers the growth of the global gourmet ice cream market during the forecast period.
The market 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 Gourmet Ice Cream 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.
Amadora Gourmet Ice creams Pvt. Ltd.: The company offers gourmet ice creams such as Five bean vanilla, Caramelized white chocolate, dark chocolate sorbet, and salted butter caramel.
The research 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. Gelato is based on cream, sugar, milk, flavors, nut purees, and fruit. It contains less fat and more sugar than regular ice cream. Gelato originated in Italy and from there spread all over the world.
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The gelato segment was valued at USD 4,109.89 million in 2017 and continued to grow until 2021. The gelato industry includes artisanal gelato, gourmet gelato, and cake gelato flavors. Growing health-conscious consumers in North America and Europe, increased demand for premium products, and increased availability of gourmet ice cream products in online retailers will contribute to the growth of the gourmet gelato-based ice cream segment during the forecast period.
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Europe is estimated to contribute 34% 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. Italy, Germany, the UK, the Netherlands, Spain, France, Sweden, and Belgium are the most important markets for gourmet ice cream products in Europe. The growing number of gelaterias and premium ice cream parlors across Europe is fueling the growth of the region's gourmet ice cream market.
Increasing disposable incomes of people in Eastern European countries such as Hungary, Romania, Turkey, Bulgaria, and Russia are positively impacting the growing demand for gourmet ice cream products in the region. The number of ice cream parlors in Europe is increasing. In addition, in the UK, the growing vegan population and growing consumer awareness of the benefits of vegan food have led to an increase in demand for gourmet ice cream. All these factors are fueling the growth of the gourmet ice cream market in Europe.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The COVID-19 outbreak adversely affected trade and the economy in the region. The pandemic has resulted in a large number of deaths in countries such as Italy, Spain, and Russia. Lockdowns were imposed to stop the spread of the pandemic, resulting in the closure of retail stores and other manufacturing businesses. This had a negative impact on the growth of the regional gourmet ice cream market, especially in 2020. However, lockdowns and trade restrictions have been lifted across the region following a massive vaccination campaign in 2021. This led to the reopening of retail stores and the resumption of production, supply chains, and other activities. In addition, the rapid growth of the e-commerce industry has also increased the demand for gourmet ice cream through online channels. Therefore, the regional gourmet ice cream market is expected to grow during the forecast period.
The gourmet ice cream 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 gourmet ice cream market as a part of the global packaged foods and meats under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats products market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Gourmet Ice Cream Market Scope |
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Report Coverage |
Details |
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Page number |
163 |
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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 14.32% |
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Market growth 2023-2027 |
USD 8,851.79 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
13.88 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 34% |
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Key countries |
US, China, Germany, Belgium, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amadora Gourmet Ice creams Pvt. Ltd., American Classic Specialities, Amorino, Braums Online L.L.C., Daves Gourmet Ice Cream, Froneri International Ltd., Gelato Italia Ltd., General Mills Inc., Herrells Ice Cream, iSwich Gourmet, Mammino Gourmet Ice Cream, Morellis Gelato, Nestle SA, Numoo, Papacream, Papitto Gelato, R and R Durian, Rons Gourmet Ice Cream, Unilever PLC, and Vadilal Industries Ltd. |
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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, and market condition analysis for the 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.
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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