Ice Cream and Frozen Dessert Market: Overview
The trajectories in the ice cream and frozen dessert market are shaped by the demand dynamic distinct to each of the two categories. Taxonomy and the legal characterization vary from country to country, which can also be a key part of consumer choice. Ice creams can be considered a category of snacks that is usually made of milk fat products, and in some countries classified as dairy based desserts/confections. Frozen desserts are characterized by freezing of pasteurized mix contain edible vegetable oils and fat and may or may not contain edible vegetable oils and fat. Oftentimes, the differentiation may be not pertinent to most of the demand dynamics of the ice cream and frozen dessert market, hence the combined demand trends are considered for assessment in the market studies.
However, characterization and the regulatory norms are markedly important for producers in the ice cream and frozen dessert market to come out with their own compositional values, which define the trajectories of different regional markets. Low-fat products and products that contain sugar alternatives are recently an emerging category in the ice cream and frozen dessert market.
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Ice Cream and Frozen Dessert Market: Key Trends
The demand for ice creams has been steadily rising in single-serve category. On the other hand, frozen desserts are extensively been demanded in catering and banqueting. In both the segments, steadily growing demand for each in cultural and social events are driving the growth of the market.
Companies in the ice cream and frozen dessert market are incorporating combination of different ingredients that are approved by food regulators in respective regions. Key manufacturers are coming out with different formulations and differentiating their products with unique combinations of flavors, crunchiness, protein content, and sensory characteristics, which might help them detect confectionery sticks or bars.
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Ice Cream and Frozen Dessert Market: Competitive Analysis and Key Developments
Some manufacturers in the ice cream are testing the waters by coming out with their propriety compositional guidelines. Over the years, the global ice cream and frozen dessert market has been committed to raise awareness about the nutritional benefits and the advances the different products have been able to do with regard to sensory characteristics. For instance, several print and digital mediums are leveraged by food brands in the ice cream and frozen dessert market to harp on the benefits of milk and milk solids. Numerous brands also adopt fat free labels to convey nutritional profile of products to customers. Low fat ice creams are expected to attract customers who are conscious about the obesity.
An increasing number of brands have focused on minimizing ice recrystallization, which might render ice creams and frozen desserts a coarse and grainy texture. This might be unappealing to customers as the crystals are detected easily. They are also adopting advanced frozen technology and packaging.
Ice Cream and Frozen Dessert Market: Regional Assessment
Some of the key regions in the global ice cream and frozen dessert market are North America, Europe, Asia Pacific, Latin Africa, and the Middle East and Africa. Western Europe and Asia Pacific are key regional markets, and are expected to contribute a large part of share in the global market. Increasing popularity of low fat milk and natural sweeteners is opening new avenues in the market. Some brands also find new capitalization avenue by offering non-dairy fats and non-dairy products. Intense marketing and promotional activities by ice-cream manufacturers is expected to open new avenues in Asian populations.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.