Frozen Desserts Market Size to grow by USD 25.8 billion between 2024-2028
The Frozen Desserts Market is segmented 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). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 25.8 billion, at a CAGR of 6.79% during the forecast period. There are several companies that are contributing to the market as per this report. Consumption of frozen yogurt as functional food .
By Product, the Gelato segment is projected to dominate the market size in 2024
The frozen desserts market, with gelato being a significant segment, is experiencing notable growth, particularly among young adults seeking refreshing treats. The surge in take-home gelato consumption is attributed to the convenience of family packs, which are easily portable. Moreover, the artisan gelato sector is thriving due to increasing consumer demand for natural ingredient-based products. This trend is driven by rising disposable income, urbanization, and consumer expenditures on fast food. Intensive research and development activities for manufacturing unique product variants further fuel the expansion of this sector. The global frozen desserts market is poised for robust growth during the forecast period, fueled by these factors.
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By Distribution Channel, Supermarkets and hypermarkets segment is expected to hold the largest market size for the year 2024
In the global frozen desserts market landscape of 2023, supermarkets and hypermarkets emerged as significant distribution channels. Notable retailers, including Target Corporation (Target), Walmart Inc. (Walmart), Meijer Inc. (Meijer), and The Kroger Co. (Kroger), are prominent players in this sector. These establishments offer an extensive range of frozen dessert products from various brands, catering to diverse consumer preferences. Furthermore, they present opportunities for vendors to conduct in-store promotions, thereby increasing product visibility and customer attraction. Additionally, these supermarkets and hypermarkets feature their exclusive private-label brands, such as Walmart's Great Value frozen desserts, expanding the market offerings and providing competitive pricing options.
Why is North America forecasted to hold the largest regional market size in 2024?
The Frozen Desserts Market represents a significant business opportunity, with increasing consumer preference for indulgent, convenient, and health-conscious treats. Key trends include the rise of plant-based and low-sugar options, as well as innovative product development and packaging design. Market size is projected to grow at a steady CAGR, driven by both emerging and mature markets. Companies must stay abreast of consumer preferences and regulatory requirements to remain competitive.
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Research Analysis Overview
The Frozen Desserts Market, spearheaded by Colorado-based companies, is experiencing significant growth due to several time-saving factors and the convenience they offer. Packaging plays a crucial role in this category, ensuring the products maintain their texture and taste while frozen. Flavors continue to innovate, with low-sugar, gluten-free, low-fat, and organic ingredient-based options gaining popularity due to health and wellness trends. International Dairy Foods Association's Health-related content highlights the importance of frozen desserts in addressing dietary needs, such as dairy-free products for lactose intolerance, low-calorie desserts for weight management, and vegan alternatives for ethical and health reasons. Frozen yogurts and ice creams are popular choices, with climate change driving the use of dried fruits and vegetable fats as milk components. Innovative flavors, such as plant-based milk ice creams and dairy-free sorbets, cater to diverse consumer preferences. Diabetes-friendly and low-glycemic index options are also on the rise, reflecting the market's commitment to catering to various dietary needs.
Market Research Overview
The global packaged foods and meats market encompasses vendors engaged in food processing to eliminate microorganisms and prolong product shelf life. According to Technavio, the market's size is determined by the consolidated revenue generated by the market participants. This market segment excludes food processing equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. The market's expansion will be fueled by the health benefits linked to the consumption of minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. - The Frozen Desserts Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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