Frozen Dessert Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

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Report Overview

The global frozen dessert products market was valued at USD 79.7 billion in 2022 and is projected to expand at a CAGR of 6.4% from 2023 to 2030. Frozen desserts have become extremely popular due to their convenience, affordability, and availability. The increasing demand for cheap and easily accessible snacks is driving growth in the frozen dessert market. The emergence of plant-based frozen desserts is another factor driving the market. For instance, in June 2021, Ben & Jerry’s launched a vegan version of its classic flavors, such as Chunky Monkey, Chocolate Fudge Brownie, and Caramel Almond Brittle.

Consumers are increasingly opting for healthier alternatives due to the health benefits associated with these products. For instance, low-fat, non-fat, lactose-free, and gluten-free frozen desserts are gaining traction among health conscious consumers. Moreover, a rise in the number of local players in the market is expected to create favorable conditions for market growth in the coming years. For instance, in April 2021, the Canadian-based company, Spring frozen desserts, launched a line of plant-based frozen desserts in various flavors such as Blueberry Lemon, Coconut Chocolate, and Peanut Butter & Jelly.

Furthermore, technological advancements and product innovations are expected to have a positive impact on the market in the coming years. For instance, in April 2021, U.S. based company, Arctic Zero, launched a line of plant-based frozen desserts, which are said to be low in calories and sugar. In addition, new product launches and product innovation are expected to have a positive impact on the market. For instance, in March 2021, Nestle launched Drumstick Toasted Coconut Vanilla Cone, a combination of premium vanilla ice cream and coconut flakes.

The rising number of foodservice outlets is also expected to drive the market in the coming years. For instance, according to the National Restaurant Association, the number of restaurant locations in the United States is expected to increase from 759,924 in 2019 to 786,641 in 2022. Furthermore, the increasing number of foodservice outlets is expected to create lucrative opportunities for market participants. For instance, in October 2021, Unilever launched a frozen dessert range for foodservice outlets, aimed at creating unique and indulgent experiences for consumers.

The increasing demand for indulgence and premiumization in frozen desserts is driving the market. For instance, in April 2021, Haagen-Dazs launched a new range of handcrafted indulgent bars in various flavors such as Salted Caramel, Hazelnut, and Belgian Chocolate. Moreover, the increasing demand for ready-to-eat products is expected to boost the market in the coming years. For instance, in May 2021, Nestle launched a range of indulgent ice creams in the form of frozen dessert bars.

Product Insights

The ice cream segment dominated the market and accounted for a share of around 43.2% in 2022. The rising popularity of frozen desserts and increasing consumer preference for indulgent treats are the major factors driving the market for ice cream products. Furthermore, the launch of innovative flavors and the availability of a wide variety of ice cream products is providing further impetus to the market growth. According to an article published by Statista, in 2018, the U.S. had the highest consumption of ice cream in the world with a consumption of 24.2 liters per capita.

The frozen yogurt segment is estimated to register the highest CAGR of 7.7% during the forecast period. The rising demand for healthy frozen desserts and increasing awareness among consumers regarding the health benefits of yogurt are some of the key factors driving the market growth. In addition, the availability of guilt-free frozen products and the launch of a wide variety of flavors are creating lucrative opportunities for the market. According to an article published by the International Dairy Foods Association, in 2019, the frozen yogurt market was worth over USD 7.9 billion globally.

Distribution Channel Insights

The supermarkets and hypermarkets segment captured a major share of over 45.8% in 2022. These stores offer a wide range of frozen desserts with various flavors and brands. Moreover, the presence of supermarkets and hypermarkets in urban cities provides customers with convenience and a one-stop shop for their grocery needs, further increasing the demand for frozen dessert products. In addition, the presence of various discounts, promotional offers, and loyalty programs further encourages consumers to purchase products from supermarkets and hypermarkets.

The online segment is expected to grow at the highest CAGR of 11.2% over the forecast period. The development of e-commerce platforms and the increasing focus of leading manufacturers towards online sales channels are some of the major factors driving the growth of this segment. Furthermore, manufacturers are also focusing on launching their own mobile applications and websites to expand their product reach. For instance, in April 2021, Unilever launched an online store for its ice cream brand, Magnum. The online store will provide customers with an opportunity to explore various flavors and products, as well as access exclusive offers.

Type Insights

The ice cream segment accounted for the largest revenue share of 53.8% in the year 2022. The increasing demand for frozen desserts such as ice cream, gelato, and frozen yoghurt due to the changing lifestyle and eating habits of consumers is driving the market. Moreover, the introduction of innovative flavors and texture of ice creams is further propelling the market. For instance, in May 2022, Unilever, one of the leading frozen dessert manufacturers, introduced Magnum Infinity ice cream in the U.S. The new product is made with Belgian chocolate and rich cocoa truffle pieces.

The frozen yogurt segment is anticipated to expand at the highest CAGR of 7.5% over the forecast period. The increasing demand for low-calorie desserts is a major driver of this segment. Frozen yogurt is considered as a healthier alternative to ice cream as it contains fewer calories and fat. Increasing health awareness and the growing number of health-conscious consumers are expected to boost the demand for frozen yogurt over the forecast period. Additionally, the introduction of innovative flavors and textures of frozen yogurt is expected to drive the growth of the segment.

Regional Insights

North America accounted for the largest revenue share of over 40.0% in 2022. The presence of major players, such as Unilever, Nestle, and General Mills, and the presence of a large number of retail stores are some of the major factors driving the growth of the market in the region. Additionally, the growing demand for healthy, natural, and organic frozen desserts among health-conscious consumers is expected to further propel the growth of the market in the region.

Europe is expected to witness the second-fastest growth in the coming years. Increasing demand for premium and gourmet frozen desserts is expected to drive the growth of the market in the region. Moreover, the presence of prominent players, such as Nestle and Unilever, is also expected to support the growth of the market. For instance, in April 2021, Nestle partnered with Unilever to launch a range of premium frozen desserts in the UK.

Financial Projections

In this part of the frozen dessert products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your frozen dessert products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenue for a frozen dessert products business comes from the sale of individual products, subscriptions, and bulk orders. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, catering, the sale of merchandise, and special events.

Projecting Expenses
In this section, all the regular expenses related to keeping the frozen dessert products business running will be described. The list of operating expenses includes rent, salaries, ingredients, packaging, utilities, insurance policies, advertising, and others.

Key companies & market share insights

Some of the key companies operating in the frozen desserts market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Unilever launched Magnum Ice Cream Bars, a new range of premium ice cream bars.

– In August 2022, Nestle launched the Mini Moos, a low-calorie ice cream product range.

– In October 2022, Amul launched the Ice Cream Sandwiches, a range of ice cream sandwiches made with chocolate and vanilla ice cream.

Some of the prominent players in the frozen desserts market include:

– Unilever
– Nestle S.A.
– Mars, Inc.
– Amul
– General Mills, Inc.
– Haagen-Dazs
– Baskin Robbins
– Dreyer’s Grand Ice Cream, Inc.
– Ben & Jerry’s
– Dairy Queen

Global Frozen Dessert Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global frozen dessert products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Ice Cream
– Frozen Yogurt
– Gelato
– Sorbet
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Convenience Stores
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

Frequently Asked Questions

[Q]: What are the main trends in the frozen dessert products market?
[A]: The frozen dessert products market is characterized by increasing demand for healthier ingredients, plant-based frozen desserts, and premiumization of the product. Consumers are increasingly seeking out high-quality ingredients, such as fruit and nuts, as well as indulgent flavors, such as chocolate and caramel. Additionally, manufacturers are introducing plant-based frozen desserts, such as vegan ice cream, to cater to the growing demand for vegan and vegetarian products.

[Q]: What are the key players in the frozen dessert products market?
[A]: Major players in the frozen dessert products market include Nestlé S.A., Unilever, General Mills, Inc., Mars Inc., and The Kraft Heinz Company.

[Q]: What are the major factors driving the frozen dessert products market?
[A]: Major drivers of the frozen dessert products market include the increasing demand for healthier ingredients, the rise of premium products, and the increasing awareness of the health benefits of frozen desserts. Additionally, the emergence of vegan and vegetarian diets is stimulating demand for plant-based frozen desserts.

[Q]: What are the challenges facing the frozen dessert products market?
[A]: The main challenges facing the frozen dessert products market include the limited availability of raw materials and the increasing cost of production. Additionally, the challenges of storage and distribution due to the short shelf life of the products are also hindering the growth of the market.

[Q]: What region offers the largest opportunity for sales of frozen dessert products?
[A]: North America is expected to be the most lucrative region for frozen dessert products, with an absolute dollar opportunity of USD $47.8 B. This is attributed to the increasing demand for convenience foods, the rising health consciousness among consumers, and a growing preference for vegan and vegetarian diets.

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Frozen Dessert Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

Report Overview

The global frozen dessert products market was valued at USD 79.7 billion in 2022 and is projected to expand at a CAGR of 6.4% from 2023 to 2030. Frozen desserts have become extremely popular due to their convenience, affordability, and availability. The increasing demand for cheap and easily accessible snacks is driving growth in the frozen dessert market. The emergence of plant-based frozen desserts is another factor driving the market. For instance, in June 2021, Ben & Jerry’s launched a vegan version of its classic flavors, such as Chunky Monkey, Chocolate Fudge Brownie, and Caramel Almond Brittle.

Consumers are increasingly opting for healthier alternatives due to the health benefits associated with these products. For instance, low-fat, non-fat, lactose-free, and gluten-free frozen desserts are gaining traction among health conscious consumers. Moreover, a rise in the number of local players in the market is expected to create favorable conditions for market growth in the coming years. For instance, in April 2021, the Canadian-based company, Spring frozen desserts, launched a line of plant-based frozen desserts in various flavors such as Blueberry Lemon, Coconut Chocolate, and Peanut Butter & Jelly.

Furthermore, technological advancements and product innovations are expected to have a positive impact on the market in the coming years. For instance, in April 2021, U.S. based company, Arctic Zero, launched a line of plant-based frozen desserts, which are said to be low in calories and sugar. In addition, new product launches and product innovation are expected to have a positive impact on the market. For instance, in March 2021, Nestle launched Drumstick Toasted Coconut Vanilla Cone, a combination of premium vanilla ice cream and coconut flakes.

The rising number of foodservice outlets is also expected to drive the market in the coming years. For instance, according to the National Restaurant Association, the number of restaurant locations in the United States is expected to increase from 759,924 in 2019 to 786,641 in 2022. Furthermore, the increasing number of foodservice outlets is expected to create lucrative opportunities for market participants. For instance, in October 2021, Unilever launched a frozen dessert range for foodservice outlets, aimed at creating unique and indulgent experiences for consumers.

The increasing demand for indulgence and premiumization in frozen desserts is driving the market. For instance, in April 2021, Haagen-Dazs launched a new range of handcrafted indulgent bars in various flavors such as Salted Caramel, Hazelnut, and Belgian Chocolate. Moreover, the increasing demand for ready-to-eat products is expected to boost the market in the coming years. For instance, in May 2021, Nestle launched a range of indulgent ice creams in the form of frozen dessert bars.

Product Insights

The ice cream segment dominated the market and accounted for a share of around 43.2% in 2022. The rising popularity of frozen desserts and increasing consumer preference for indulgent treats are the major factors driving the market for ice cream products. Furthermore, the launch of innovative flavors and the availability of a wide variety of ice cream products is providing further impetus to the market growth. According to an article published by Statista, in 2018, the U.S. had the highest consumption of ice cream in the world with a consumption of 24.2 liters per capita.

The frozen yogurt segment is estimated to register the highest CAGR of 7.7% during the forecast period. The rising demand for healthy frozen desserts and increasing awareness among consumers regarding the health benefits of yogurt are some of the key factors driving the market growth. In addition, the availability of guilt-free frozen products and the launch of a wide variety of flavors are creating lucrative opportunities for the market. According to an article published by the International Dairy Foods Association, in 2019, the frozen yogurt market was worth over USD 7.9 billion globally.

Distribution Channel Insights

The supermarkets and hypermarkets segment captured a major share of over 45.8% in 2022. These stores offer a wide range of frozen desserts with various flavors and brands. Moreover, the presence of supermarkets and hypermarkets in urban cities provides customers with convenience and a one-stop shop for their grocery needs, further increasing the demand for frozen dessert products. In addition, the presence of various discounts, promotional offers, and loyalty programs further encourages consumers to purchase products from supermarkets and hypermarkets.

The online segment is expected to grow at the highest CAGR of 11.2% over the forecast period. The development of e-commerce platforms and the increasing focus of leading manufacturers towards online sales channels are some of the major factors driving the growth of this segment. Furthermore, manufacturers are also focusing on launching their own mobile applications and websites to expand their product reach. For instance, in April 2021, Unilever launched an online store for its ice cream brand, Magnum. The online store will provide customers with an opportunity to explore various flavors and products, as well as access exclusive offers.

Type Insights

The ice cream segment accounted for the largest revenue share of 53.8% in the year 2022. The increasing demand for frozen desserts such as ice cream, gelato, and frozen yoghurt due to the changing lifestyle and eating habits of consumers is driving the market. Moreover, the introduction of innovative flavors and texture of ice creams is further propelling the market. For instance, in May 2022, Unilever, one of the leading frozen dessert manufacturers, introduced Magnum Infinity ice cream in the U.S. The new product is made with Belgian chocolate and rich cocoa truffle pieces.

The frozen yogurt segment is anticipated to expand at the highest CAGR of 7.5% over the forecast period. The increasing demand for low-calorie desserts is a major driver of this segment. Frozen yogurt is considered as a healthier alternative to ice cream as it contains fewer calories and fat. Increasing health awareness and the growing number of health-conscious consumers are expected to boost the demand for frozen yogurt over the forecast period. Additionally, the introduction of innovative flavors and textures of frozen yogurt is expected to drive the growth of the segment.

Regional Insights

North America accounted for the largest revenue share of over 40.0% in 2022. The presence of major players, such as Unilever, Nestle, and General Mills, and the presence of a large number of retail stores are some of the major factors driving the growth of the market in the region. Additionally, the growing demand for healthy, natural, and organic frozen desserts among health-conscious consumers is expected to further propel the growth of the market in the region.

Europe is expected to witness the second-fastest growth in the coming years. Increasing demand for premium and gourmet frozen desserts is expected to drive the growth of the market in the region. Moreover, the presence of prominent players, such as Nestle and Unilever, is also expected to support the growth of the market. For instance, in April 2021, Nestle partnered with Unilever to launch a range of premium frozen desserts in the UK.

Financial Projections

In this part of the frozen dessert products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your frozen dessert products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenue for a frozen dessert products business comes from the sale of individual products, subscriptions, and bulk orders. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, catering, the sale of merchandise, and special events.

Projecting Expenses
In this section, all the regular expenses related to keeping the frozen dessert products business running will be described. The list of operating expenses includes rent, salaries, ingredients, packaging, utilities, insurance policies, advertising, and others.

Key companies & market share insights

Some of the key companies operating in the frozen desserts market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Unilever launched Magnum Ice Cream Bars, a new range of premium ice cream bars.

– In August 2022, Nestle launched the Mini Moos, a low-calorie ice cream product range.

– In October 2022, Amul launched the Ice Cream Sandwiches, a range of ice cream sandwiches made with chocolate and vanilla ice cream.

Some of the prominent players in the frozen desserts market include:

– Unilever
– Nestle S.A.
– Mars, Inc.
– Amul
– General Mills, Inc.
– Haagen-Dazs
– Baskin Robbins
– Dreyer’s Grand Ice Cream, Inc.
– Ben & Jerry’s
– Dairy Queen

Global Frozen Dessert Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global frozen dessert products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Ice Cream
– Frozen Yogurt
– Gelato
– Sorbet
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Convenience Stores
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

Frequently Asked Questions

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