According
to the study, ‘ICE CREAM
GLOBAL INDUSTRY GUIDE 2013-2022’, regional segmentation of the
industry presents an interesting scenario. The global ice-cream industry is a sector
that is constantly innovating with new products. The desirability of ice-cream
among the general public is evident by the fact that the global market was
recently valued at tens of billions of US dollars and It is expected to grow
further.
The
market is also segmented on the basis of product type such as lactose free,
reduced fat, gluten free and organic ice-cream. In modern times there has been
concern raised about the ill effects of consuming ice-cream. Such health
concerns are due to the rising cases of diabetes and obesity related issues.
Medical research is building on this and has lead to some interesting ice-cream
developments that incorporate these health concerns. Ice-cream brands have
begun replacing frozen milk and cream with sugar-free and non-dairy
alternatives. The success of such shifts is evident by the achievements of Halo
Top which is now the best selling ice-cream brand in America. It uses natural
sugar substitutes Stevia and Erythritol-a sugar alcohol found in grapes and
pears that does not impact blood glucose levels.
Organic
ice creams are made from organic milk which contains more beneficial omega-3. Alden’s
and Coconut Bliss are among the most popular in this respect. The rising health
consciousness and changing health preferences of consumers is creating demand
for organic ice-creams. Further, growth of this sector is supported by
introduction of novel flavours and technological advancements in cold chain
infrastructure and refrigerated transport systems. Despite the options
presented by organic ice-cream in view of nutritional concern it still faces
high competition from regular ice-cream. United States and China represent the
major regions in the organic ice-cream market with the largest consumer base.
The organic ice-cream market is expected to cross a billion dollars by 2024.
Sweden,
Australia, Italy, New Zealand, U.S. and Denmark are the major countries
consuming the highest amounts of ice-cream. Unilever dominates the global
market with eight of the fifteen top selling brands and more than one-fifth the
market share. Nestle is the closest corporate rival of Unilever with four
brands in the top fifteen. The demand for premium ice-cream has been on the
rise. The introduction of lactose-free ice-cream has further increased
competition and improved the market. Asia-Pacific is expected to witness the
highest growth rate owing to the demand from emerging economies like India,
China and Indonesia among others.
The
rising demand for innovative flavors and impulsiveness to consume the product
is expected to drive the market. Asia-Pacific, Latin America and Middle East
Asia are believed to be the major regions that will drive the market. However;
the share of North America and Europe is expected to decline owing to growing
number of health conscious consumers in these regions. Despite this the
ice-cream sector has come up with solutions and these days awareness and
popularity of organic ice-creams has begun to grow. Big ice–cream manufacturers
are investing in this strategy which results in gains not only for the company
but also for the consumers.
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