Market Overview North America Ice Cream market is forecasted to grow at a CAGR of 2. 83% to reach USD 21. 62 billion by 2024. - The rising demand for innovative flavors and formats and growing demand for impulsiveness to consume the product in developing countries is expected to drive the market growth during the forecast period.
New York, March 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Ice Cream Market - Growth, Trends and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05865860/?utm_source=GNW
- The United States held a majority of the market share for ice-cream. Growing demand for plant-based frozen desserts is the key factor driving the North America ice-cream market.
Scope of the Report
North America Ice Cream market is segmented by Artisanal Ice Cream, Impulse Ice Cream, Take-Home Ice Cream and Frozen Yoghurt.
Key Market Trends
Health consciousness and Innovation driving the sales
Growth in Ice cream market encountered several challenges to post a CAGR of 2.89%. Growing health concerns and the availability of alternative products like Yoghurt affected market sales. Due to rising health concerns consumers are interested in Ice Cream made of Natural flavours and natural sweeteners and handcrafted Ice Cream. Currently, the US is leading the way for launch activity in handcrafted ice creams, likely relating to the market’s size and maturity. These products can offer innovation inspiration to other markets, specifically with regard to sourcing ingredients from local farmers and using packaging as a distinguishing selling point that celebrates – and appeals to – a sense of individuality. Companies are offering consumers more “better for you” options in the way of smaller portion sizes, and better ingredients including vegetables, oats, soy and dairy free.
Take-home forms the major share
Although Ice cream is an Impulse product, the scene in North America is very different from Take-home Ice Cream sales much higher than Impulse sales. This is due to high Take-home consumption of Ice Cream in the United States which surpasses Impulse Ice Cream sales by 200%. The Take-home Ice cream market is growing at a higher pace and is projected to surpass Impulse Ice Cream in the medium term. This is in line with the snacking trend in consumers opting for a variety of snacks including Ice Cream for at home consumption. Various reports have found that consumers tend to eat the most ice cream in the afternoon or evening and that for many consumers, eating ice cream is a regular past time more than an occasional indulgence.
The market continues to fragment. While leading companies own the share of voice, the total number of companies increases making the market more crowded than ever. With rising health concerns and consumers interest to try new flavours and exciting products, new companies are popping up on every street corner in major cities. These companies come with unique selling point such as Organic Ice Cream, All Natural Ice Cream and free from Ice Cream which is attracting the consumers. Companies are going a step ahead and providing fresh Ice Cream, more like a coffee machine, which provides an instant made Ice Cream by selecting your flavour and ingredients. They cater to different tastes and diets, offering a number of varieties including sugar-free, organic, and alcoholic options.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
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- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05865860/?utm_source=GNW
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