September 11, 2020
According to the research report titled ‘Global Retail Ice Cream Market Size study, by Type (Impulse Ice Cream, Take-Home Ice Cream, Artisanal Ice Cream) by Distribution Channel (Supermarket, Convenience Stores, Specialist Stores, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global retail ice cream market is projected to register a healthy growth rate through 2027.
As per the report findings, growing consumer inclination towards frozen dairy products and sweet dishes, along with rising disposable income are the primary growth drivers of global retail ice cream market.
Increasing number of ice cream manufacturers including local as well as multinational organizations is enhancing the business landscape. As per Statista, in 2019, Ben & Jerry’s sold 150.9 million ice cream units in the United States, with Haagen-Dazs following at 132.8 million units. Whereas, private label brands accounted for the highest sales with 361.1 million units in the nation.
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Ice cream is a diary product sweetened with any natural or artificial sweetener. Presently, numerous ice cream varieties such as hard ice cream, light ice cream, soft ice cream, low fat ice cream, and others are sold by companies. Ever changing consumer demands have compelled manufacturers to expand their product portfolio by including exotic flavors, functional ingredients, and organic herbal fillings, thereby positively impacting the market growth.
On the contrary, availability of wide range of options on online stores may impede the growth of global retail ice cream market over the forecast timeframe.
Considering the geographical landscape, global retail ice cream market is fragmented into North America, Asia Pacific, Europe, Latin America, and Rest of the World. North America currently accounts for majority market share, attributable to increasing number of ice cream manufacturers throughout the region.
Meanwhile, Asia Pacific retail ice cream market is projected to showcase a robust growth rate during 2020-2027, on account of increasing per capita income and large population base in the region.
Key players operating in global retail ice cream market are London Dairy, Lotte Corporation, Blue Bell Creamries, Cream Stone, Dairy Queens, Turkey Hill, Mother Dairy Fruits & Vegetables Pvt. Ltd., Nestle S.A, Amul, and Baskin & Robins.