The global frozen desserts market is set to witness growth at a CAGR of 5.8% and is anticipated to reach a valuation of around USD176bn by 2032, according to a new report by Future Market Insights.
Increasing demand for organic desserts due to various health benefits associated with them such as low-fat and low-sugar content is anticipated to drive the market in the forecast period. Rising number of supermarkets or hypermarkets across the globe is also set to push sales of frozen desserts as these stores provide discounts from time to time.
However, growing health concerns among people may hamper the market in the next decade. As per the World Health Organization (WHO), around 422 million people worldwide have diabetes and the number is expected to reach 600 million in the next two decades. Thus, consumers are looking for vegan, low-calorie, and dairy-free alternatives, which may hinder the market.
But, due to growing popularity of organic frozen desserts, several companies are aiming to broaden their product portfolios in this category.
Some of the other players are competing on the basis of product offerings, taste, flavors, quality, price, packaging, size, functionality, and promotional activities to gain a competitive advantage in the frozen desserts market.