The global ice cream service supplies market is poised to achieve a valuation of US$ 8,800 million by 2023, according to reports from Future Market Insights. Projections indicate a steady growth trajectory with a 4.6% compound annual growth rate (CAGR) from 2023 to 2033, ultimately reaching a remarkable valuation of US$ 13,797.5 million by the end of 2033.
The ice cream service supplies industry has encountered challenges stemming from disruptions in the supply chain distribution, leading to regional constraints on freighting and shipping, thus impacting ice cream sales. However, the market has swiftly rebounded from the pandemic, as normalcy has resumed with the return of a substantial labor force to production units. Furthermore, in-situ sales via supermarkets, retail outlets, and convenience stores have witnessed a resurgence, bolstering market sales.
Post-pandemic, several companies have reported a notable surge in the take-home segment of the ice cream market. Traditionally, the impulse category held a dominant share of 60%, whereas the take-home category accounted for 30% of sales. However, there has been a significant shift towards take-home purchases, reflecting changing consumer preferences and behaviors in the wake of the pandemic.
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Growth Factors
The global ice cream supply market is experiencing significant growth driven by product innovations, particularly in terms of taste and natural ingredients. There is a notable trend towards natural flavors and preservative-free ice creams, reflecting consumer preferences for healthier options. The increasing adoption of vegan diets and the growing lactose-intolerant population have contributed to the rise in demand for non-dairy ice cream products.
Furthermore, the surge in demand for premium ice creams is fueling market growth, as health-conscious consumers seek products made with high-quality ingredients and lower carbonation levels compared to regular ice creams.
To gain a competitive edge in the market, manufacturers are focusing on creating ice cream products with functional ingredients, organic fillings, and enticing flavors. This includes incorporating unique flavors such as tropical fruits, lemons, and coconuts to cater to changing consumer tastes. Brands like Skinny Cow, known for their low-calorie and low-fat ice cream offerings, are witnessing increased demand among health-conscious customers.
Additionally, favorable regulations are encouraging innovation in the market, providing opportunities for key players to introduce new products and differentiate their offerings. As a result, the ice cream supply market is experiencing dynamic growth driven by evolving consumer preferences and industry innovations.
Key Companies
- Dart Container Corporation
- Huhtamaki Oyj
- International Paper Company
- T. Marzetti Company
- Anchor Packaging
- Ecolab Inc
- Gold Medal Products Co
- Ali Group
- Kerry Group
- Winkler GmbH
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