Ice cream is there a market for it? Absolutely. The global ice cream market was estimated to be worth USD 65.8 billion in 2020, and it is projected to expand at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028. Convenience meals, frozen desserts, and rising disposable incomes are the main drivers of this growth.
1. Fitness and health
The trend of consumers becoming more health-conscious is seen in the foods they choose, including ice cream. As a result, there is an increasing need for plant-based, low-sugar ice cream solutions. Future brand success is likely to go to those that can provide these options without sacrificing quality.
When it comes to flavors, the ice cream industry has always been innovative, and this tendency is probably going to continue in the future. Matcha, lavender, and even beer-flavored ice creams are just a few of the unusual and exotic tastes that are now available. Additionally, artisanal and luxury ice creams, which provide a more decadent experience, are in greater demand. 3. Environmental protection
Consumers’ top concerns are increasingly focused on sustainability, and ice cream makers are paying attention. Businesses are beginning to employ environmentally friendly packaging solutions including compostable and biodegradable materials. In order to lessen their carbon footprint, several companies are also looking at alternative components, such plant-based milk.
The shift towards e-commerce and home delivery has been expedited by the COVID-19 epidemic, and the ice cream sector is no exception. Now, businesses provide online ordering and delivery options to appeal to customers who prefer the ease of doing their shopping at home.
In conclusion, there are chances for expansion and innovation in the ice cream industry. The following trends are anticipated to have an impact on the market in the years to come: sustainability, e-commerce, novel tastes and formats, and health and wellness. Ice cream companies that can adapt and deliver novel and exciting products and experiences will succeed as consumer preferences continue to change.