The organic ice cream market is estimated to hit USD1.2bn by 2024, according to a new research report by Global Market Insights, Inc.
Increasing consumer preference for nutrient rich ice cream due to rising prevalence for healthy lifestyle will drive organic ice cream market size, while the presence of naturally processed sweeteners and preservatives will remain key factors stimulating product demand.
“Rising product adoption for preparing smoothies, sorbets, and shakes will enhance organic ice cream market penetration. Growing preference for homemade ice cream due to its natural content will fuel artisanal ice cream market growth. The segment will surpass USD350m in revenue by 2024,” according to the research company.
Take-away dominates the overall product demand and accounted for over 50% of industry share in 2016, while rising demand from families for multi serving frozen food items providing improved ease of handling in occasions and gatherings will propel demand. Impulse product will observe over 3.5% growth up to 2024 and expanding economies with an upsurge in consumer purchasing power coupled will drive demand. Sandwiches, snow lollies, popsicles, and cones are key revenue generating product type.
With regards to ingredients and flavors used, whole milk accounted for over 22% of the overall ingredient segment in 2016. Increasing whole milk usage as an ingredient for product due to growing preference for fat free products will propel demand.
“Vanilla flavor accounted for more than 29% in the overall organic ice cream market share in 2016, while growing consumer awareness regarding pure and natural ingredients have propelled food manufacturers to use pure vanilla in recent times. Chocolate industry expansion owing to increasing awareness associated to natural cocoa will drive demand in this segment. Mint chocolate, butter pecan, strawberry, and black raspberry are among the key revenue contributing flavors,” the researchers said.
Geographically speaking, U.S. organic ice cream market will generate over USD500m in revenue by 2024, while Australia, New Zealand, U.S., Sweden, Denmark, and Italy are among the highest per capita/liter consuming countries. New Zealand and Australia witnessed around 28 and 18 per capita ice cream consumption in 2015.
