The frozen dessert market can expect to record a growth rate of 5.64% from 2020 to 2026 (evaluation period) and reach a value of USD102.90bn by the end of that period.
The main companies operating in the frozen dessert market are General Mills Inc. (US), Nestlé SA (Switzerland), DD IP Holder LLC (US), Conagra Brands, Inc. (US), Unilever (UK), Dairy Queen (US), Danone SA (France), Ferrero (Luxembourg), Kellogg Company (US), and London Dairy Co. Ltd (UK).
The growing significance of e-commerce platforms due to appealing benefits such as huge discounts as well as cash-on-delivery features could present lucrative opportunities to the leading manufacturers who aim to boost their reach among more consumers.
With respect to product type, a study by Market Research Future shows that the segment primarily caters to cakes, yogurts, ice cream, and more. The ice cream segment has stayed in the lead since 2019, with the robust demand being the result of high availability of a number of flavors and varieties in the market. Meanwhile, the yogurts segment can project the fastest growth in the years to follow, as brands are constantly developing new varieties with improved taste and health benefits to cater to a higher number of consumers, according to the report.
In 2019, Asia Pacific took the lead by seizing the biggest share of 35.24% in the global frozen desserts market. Growing consumer interest in fresh and savory food products has worked in favor of the Asia Pacific market to a large extent. Brands like Magnum and Cornetto have successfully ranked to the leading spots in the region, especially in China, while India and Japan are witnessing a surge in retail sales of premium products like frozen ice cream and cakes.