The frozen desserts market size is set to grow by USD22.09bn from 2022 to 2027, progressing at a CAGR of 6.21% during the forecast period, according to a new study by Technavio.
Increasing urbanization and shifting consumer lifestyles are the main factors driving the market’s expansion during the anticipated time frame. Some of the factors driving the frozen dessert market are the rising demand for quick breakfast meals and the expanding worldwide urban population. In the last two decades, there have been major changes in consumer lives and eating patterns.
Urbanization and consumerism are driving a rapid rise in the consumption of packaged and frozen goods like frozen desserts. As a result, during the projected period, these factors will drive the market.
During the projection period, a rising trend in the frozen desserts market is the use of frozen yogurt as a functional food. Foods that are “functional” and include active microbial ingredients are becoming more and more well-liked by customers worldwide. Furthermore, because of the increasing emphasis on healthy living and the adoption of healthy eating practices, functional foods are particularly well-liked in Japan and Western nations. The demand for functional foods is stronger in this consumer category than in other categories because the geriatric population needs foods that are functional and can offer good nutritional advantages to suit their age-related needs. Therefore, during the anticipated time, these trends will drive the market.
During the anticipated period, the gelato segment’s market share rise will have a substantial impact on market expansion. Gelato is becoming more popular among young individuals seeking a cool snack. On the other hand, the artisanal ice cream market is expanding at the quickest rate as a result of shifting consumer tastes toward goods created with natural ingredients. As a result, this market sector is anticipated to rise as a result of rising consumer spending on fast food, extensive research, and development for the creation of distinctive product varieties, and product accessibility. Therefore, during the projection period, these factors will drive the segment’s expansion.
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