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Ice Cream And Frozen Dessert Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Ice Cream And Frozen Dessert Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • January 2021
  • 300 pages
  • ID: 6018921
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the ice cream and frozen dessert market include Ben & Jerry’s; Dean Foods; Dreyer’s; Nestle and Kwality.

The global ice cream and frozen dessert market is expected to grow from $88.6 billion in 2020 to $95.36 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $124.75 billion in 2025 at a CAGR of 7%.

The ice cream and frozen dessert market consists of sales of ice cream and frozen dessert by entities (organizations, sole traders and partnerships) that produce ice cream, frozen ices, frozen yogurts, sherbets and other frozen desserts (except bakery products). The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. The ice cream and frozen dessert market is segmented into ice cream and frozen dessert.

Asia Pacific was the largest region in the global ice cream and frozen dessert market, accounting for 40% of the market in 2020. Western Europe was the second largest region accounting for 39% of the global ice cream and frozen dessert market. Africa was the smallest region in the global ice cream and frozen dessert market.

The demand for clean label products is increasing rapidly owing to significant rise in awareness of healthy eating. Clean label dairy products do not contain additives, artificial flavor enhancers, dyes or artificial preservatives. Also, many food service and retail grocery store chains are stating lists of ingredients that cannot be present in food items in their stores or restaurants. For instance, a USA based yogurt brand Siggi’s Dairy introduced clean label yogurt pouches for children.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the ice cream and frozen dessert manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Food and beverage manufacturers depend on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. Also, restrictions on trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the ice cream and frozen dessert manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

World population is growing and is expected to reach 10 billion by 2050. Increase in population creates more demand for food. According to “The Agricultural Outlook” by the OECD and FAO, global cereal production was projected to increase by 13% by 2027. Trade volumes will have to increase in order to meet increased population. Therefore, companies in this market are expected to benefit from rising demand for food and beverage products including ice cream and frozen dessert due to rising population, during the forecast period.

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