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Technavio’s market research analyst predicts the ice cream market in the US to grow at a modest CAGR of around 2% by 2020. The growing consumption of take-home ice-cream products is the primary growth driver for this market. Recently, it has been observed that the demand for private label ice cream products is on the rise as they provide better value for money. There is also a significant rise in retailers offering private label ice creams owing to the widespread availability of a wide array of flavors at lower prices in comparison with branded ice creams. Additionally, factors such as the emergence of ice cream as a snack and a rise in the availability of ice cream in unique styles and flavors will impel market growth during the estimated period.
The augmented demand for private label products will drive the prospects for market growth during the predicted period. Private label ice-cream products are perceived to offer better value for money than branded products. Also, retailers in this segment offer products in a variety of flavors. The ability of private label ice cream manufacturers to offer products in a variety of flavors and to offer better value for money will result in the growing popularity of private label ice cream products during the forecast period.
The take-home ice cream products segment currently dominates this market and accounts for more than 50% of the total market share. The rising demand for innovative flavors and varieties will drive the sale of take-home ice creams during the forecast period. Eminent factors such as innovations in packaging solutions and an increasing number of distribution channels will foster the consumption of take home ice creams until 2020.
The supermarkets and hypermarkets segment currently accounts for more than half of the total market share and is the most preferred distribution channel for the sale of ice creams due to its high convenience and price advantages.
The ice cream market in the US is subject to rapidly changing consumer demands and preferences. Factors such as intense competition and declining profit margins will negatively influence the vendors’ revenue generating capacity. With increased competition, the industry has been witnessing consolidation, due to which the smaller entities are being acquired by major players. To survive and succeed in this market, the vendors have to distinguish their product offerings through a clear and unique value proposition.
Top vendors in the market are -
Other prominent vendors in the market include Amy's Ice Creams, Bliss Unlimited, Marina Ice Cream, Mikawaya, Oregon Ice Cream, Rich Ice Cream, So Delicious Dairy Free, Three Twins Ice Cream, Tillamook, and Weight Watchers International.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market outlook on ice cream consumption patterns in US
PART 07: Market segmentation by flavor
PART 08: Market segmentation by type
PART 09: Market segmentation by distribution channel
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Explore Technavio
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