The global artisanal ice cream market estimated to reach USD 9.5 billion by 2025, growing with a CAGR of 6.9%, from 2019 to 2025, according to a new report by Million Insights. The growing consumption of dessert and growing adoption of organic and natural sweet food dishes are the major factors, driving the market growth.
The rising population of lactose intolerant people is boosting the demand for the artisanal ice cream, as it provides a wide range of options which are made of natural food and other natural ingredients. Artisanal ice cream has a wide range of products which come in the lactose-free category, this is providing traction to the growth of the market. Moreover, it has been observed that, consumer focus on packaging aspects before buying food product. For example, in 2017, Van Leeuwen saw rise in its revenue by 50% after packaging change.
The growing awareness about artificial flavors, and sugar content is a major factor increasing the demand of the product. Thus, the manufacturers in the market focus in innovating new flavors to meet consumer expectations. For instance, in 2018, Taj west end launched aam-panna ice cream during the IPL tournament and promoted the product.
In addition, Oberoi offers its ice cream in South Indian flavors with varieties such as jaggery, coffee, and jamun with added charcoal flavors. For instance, in 2018, Eden Creamery LLC has introduced ice cream with low-calorie content gingerbread flavor ice cream. It also introduced mini ice creams in various flavors such as mint chip, strawberry cheesecake, chocolate chips, and peanut butter. The introduction of all these new flavors is expected to drive the market over the forecast period.
Supermarket & hypermarket is projected to have largest growth in the next few years. Increasing busy lifestyle is prompting consumers for one-time shopping at hypermarket, which is boosting the growth of the channel.
Major players in the artisanal ice cream market are Nestlé, Nye’s Cream Sandwiches, Van Leeuwan, Toscanini’s, BI-RITE FAMILY OF BUSINESSES, SUCRES DES TERRES, Carmela Ice Cream, Artinci Artisanal.
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Further key findings from the report suggest:
• In 2018, specialty stores channel accounted for the largest market share of over 35.0% in the overall market. However, supermarket & hypermarket are estimated to grow at a CAGR of 7.4% during the forecast period, 2019 to 2025.
• North America accounted for the largest share in terms of region with of 41.4%, in 2018.
• Asia Pacific region is anticipated to grow at the highest CAGR of 8.1% over the forecast period, due to rising consumption of premium category artisanal ice cream products.
• Some of the major players focus on ne product innovation to keep up their position in the market, and to have competitive edge over other players. For example, For instance, in 2018, Eden Creamery LLC has introduced ice cream with low-calorie content in the gingerbread flavor.
Million Insights has segmented the global artisanal ice cream market based on distribution channel, and region:
Artisanal Ice Cream Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Convenience Stores
• Specialty Stores
• Hypermarket & Supermarket
Artisanal Ice Cream Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa