Ice Cream Mixes Market is anticipated to progress at CAGR of 2.3% by 2032 - Persistence Market Research
NEW YORK, May 5, 2022 /PRNewswire/ -- The global ice cream mixes market is set to witness growth at a volume CAGR of 1.9% over the forecast period (2022-2032).
Due to increased consumer spending and busier lifestyle patterns, demand for convenience food has been witnessing an upward trend. This can also be seen in increased demand for bakery items, fast foods, and desserts.
Rise in demand for convenience foods can be seen more prominently in developing countries, including India, China, Brazil, as well as in Middle Eastern and African countries. This is due to increasing per capita expenditure on food products with growing discretionary spending in these countries. The ingredients in convenience food offer quality, freshness, taste, texture, and improved shelf life, which are some factors that appeal to consumers.
Demand for ice cream mixes has witnessed exponential growth in the recent past owing to increased consumer preference for 'better-for-you' options, along with demand for keto, gluten-free, and paleo diets rising rapidly.
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Key Takeaways from Market Study
- The market for ice cream mixes is expected to expand at a CAGR of 1.9% in South Asia and Pacific through 2032.
- Share of Oceania countries accounts for 75.7% of the South Asia and Pacific market in 2022.
- The Europe ice cream mixes market is currently pegged at 514,354 MT.
- Growing consumer preference for variety in taste is impacting the sales of ice cream mixes across the world. Based on flavor, demand for butterscotch is expected to increase at a CAGR of 4.2%.
- By type, the soft serve/gelato base segment holds a higher market share however, the hard pack segment is set to expand faster at a CAGR of 2.7%.
- COVID-19 disrupted the supply chain of ice cream mixes, due to which, there was a slowdown in the market. However, the market is expected to witness steady growth over the coming years with economies providing opportunities to ice cream mix manufacturers and shifting consumer toward convenience.
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"With the utilization of natural ingredients and state-of-the-art manufacturing techniques, companies are providing revolutionary solutions in regards to ice cream mixes. Offering flavor, color, and clean label ice cream mixes is a key strategy being adopted by market players," says a Persistence Market Research analyst.
Competitive Landscape
Key companies involved in the manufacturing of ice cream mixes are majorly focusing on getting quality and standard certifications for their products, which can facilitate them in gaining higher trust among clients.
- AAK AB has acquired different food safety certifications to ensure high-quality products for its consumers worldwide. The company's certifications include FSSC 22000, Halal certificate, organic certificate, Kosher certificate, and ACS-024, and ASC-039 certification from globally accredited certifying agencies.
- Bijur Sooper Foods Pvt. Ltd has acquired a number of quality certifications to drive the sales of its products worldwide. For instance, it has acquired ISO certifications from globally accredited certifying agencies.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global ice cream mixes market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on type (Soft serve/gelato base and hard pack), flavor (vanilla, strawberry, chocolate, mango, butterscotch, and others), and distribution channel (traditional trade, modern trade, industrial, foodservice), across six major regions (North America, Latin America, Europe, South Asia and Pacific, East Asia, and the Middle East and Africa (MEA)).
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