According to a new report published by Allied Market Research, titled, “Ice Cream Ingredients Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The global ice cream ingredients market size was valued at US$ 50.1 billion in 2020 and is projected to reach $ 93.5 billion by 2028, growing at a CAGR of 8.5% during the forecast period.
In recent times, the emergence of specialty ice cream parlors, fast-food chains, and growing snackification trend across the world drives the consumption of ice cream. The ice cream industry is delivering innovative and unique eating experience to the consumers by utilizing different ingredients and flavors. The manufacturers in ice cream ingredients market are intensively focusing on delivering reach experience in terms of taste and texture and rising consumption of ice creams is anticipated to support the growth of the global ice cream ingredients industry.
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According to the report published by the DPO International 2019, the global ice cream market size was valued at US$ 57.9 billion in 2018 and was expected to reach US$ 84.9 billion over the next 5 years. Thus, the ingredient manufacturers are intensively focusing on developing and offerings novel products to meet the growing innovative ice cream ingredients market trends such as low-sugar milk fat, lactose free SNF (solid-not-fat), sweeteners, and others.
The rise in disposable incomes of the consumers, increase in standards of living, and their improved spending capacity are few of the factors boosting its per capita consumption of ice creams especially the impulse ice cream. The ingredients used in a huge quantity are milk fat, milk-solid-not-fat, and sweeteners. The manufacturers have strengthened their manufacturing capabilities to meet the global demand. Furthermore, the rising concerns of consumer over health and environment has resulted in the increasing demand for organic ice cream worldwide. The ice cream ingredients market share is expected to increase in global dairy sector during the forecast period, owing to the rising popularity of ice creams in developing economies.
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The global market is segmented into type, application, and region. By type, the market is classified into milk fat, milk-solid-not-fat, sweeteners, dairy solids, and others (stabilizers, modifiers). Dairy solid is dominating among other types in the market owing to its superior properties, rich creamy offerings as ingredients.
By application, the market is classified into artisanal ice cream, impulse ice cream, and take-home ice cream industries. The continuous adaption of convenience food products among the young population, millennials, and other age group all across the world have made the industry dominant over others i.e., artisanal and take-home. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of type, the market is segmented into milk fat, milk-solid-not-fat, dairy solids, sweeteners, and others. Dairy solids are the main ingredients while manufacturing ice cream and dominates the market as it offers milky richness and textural benefits to the product. However, sweeteners and milk solids-not-fat (MSNF) are expected to exhibit a decent growth during the forecast period.
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Key Benefits For Stakeholders
This report provides a quantitative analysis of the current ice cream ingredients market trends, estimations, and dynamics of the market from 2020 to 2028 to identify the prevailing opportunity.
The key countries in all the major regions are mapped based on their market share.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
A comprehensive analysis of factors that drive and restrict the market growth is provided.
An in-depth analysis of the market helps determine the prevailing market opportunities.
The report includes detailed analysis of the regional and global markets, key players, market segments, competitive scenarios, sales areas, and growth strategies.
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Some of the key players profiled in the ice cream ingredients market analysis include Fonterra Co-Operative Group Limited, BASF SE, Tate & Lyle, Cargill, Incorporated, Royal FrieslandCampina N.V., California Dairies, Inc., Dairy Farmers of America, Grassland Dairy Products Inc., Westland Milk Products (yili Group), and Hilmar Ingredients.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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