LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global frozen desserts market is expected to grow at a CAGR of around 11% during the forecast period.
This research report titled ‘Global Frozen Desserts Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global frozen desserts market into the following type of products. They are:
- Gelato
- Frozen novelties
- Frozen yogurt
- Sherbet and sorbet
- Frozen custard
- Others
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The top three revenue-generating segments are discussed below:
Global gelato market
The gelato segment in the frozen desserts market accounted for around 47% of the total market share in 2016. Gelato is made with a custard base and manufactured using a higher percentage of milk and a lower percentage of cream and eggs or sometimes with no eggs at all. This dessert is denser than the other regular ice-cream due to its slow churn rate, which helps to incorporate less air into the mixture. This frozen dessert is served at a slightly warmer temperature as compared to other ice creams so that its overall texture is still silky and soft. Gelato is one of Italy’s most popular food products, and its popularity is growing at a fast rate across the globe.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “Countries like Italy, Germany, Spain, Japan, Argentina, and the United States are the major markets for this frozen variety in terms of numbers of gelato parlors and Italian gelato consumption. However, the demand for this frozen dessert variety is increasing at a higher rate in countries like China, Korea, Indonesia, Malaysia, Vietnam, and Australia.”
Global frozen novelties market
The growing demand for the on-the-go convenient food and beverage products is driving the growth in this frozen dessert segment. In 2016, the frozen novelties segment in the frozen dessert market occupied more than 23% of the total market share. Frozen novelties are individual packaged frozen desserts which are easy-to-consume. Also, this frozen dessert variety has an added value in the form of shape, size, color, texture, and flavor.
“Other factors such as rising technological advancement, are allowing textural diversity, which is a vital factor for frozen novelties like fruit bars and ice pops. Also, players manufacturing frozen novelties are increasingly paying attention to factors like bright colors, crunchy coatings, multi-textured and multi-flavored frozen novelties to entice consumers of all age groups,” says Manjunath.
Global frozen yogurt market
The frozen yogurt segment in the frozen desserts market accounted for about 10% of the total market share in 2016. Factors such as increasing awareness of healthy lifestyles, rapid urbanization in emerging economies, and growing demand for low-fat products are driving the demand for frozen yogurt in the global market. The adoption of self-service concept that allows customers to customize their preferences will increase the sales of this frozen dessert in the market.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- General Mills
- Nestle
- Unilever
- Wells Enterprises
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