Global Frozen Desserts Market to Reach $111.2 Billion by 2026

Frozen dessert brands are paying heavy attention to new taste and flavor profiles for a delightful consumer experience. Ice creams and frozen desserts with new tastes and offered as limited-time offerings are moving fast and garnering attention from the millennial consumer. Irrespective of consumer demographic, flavor continues to remain at the forefront, superseding other aspects like ingredients, texture, sugar or fat content and protein. Ruby chocolate is anticipated to retain its popularity in the coming years. Shrinking chocolate cocoa crops are expected to increase the demand for carob, an alternative to chocolate. With guilt-free indulgence being a major trend, frozen dessert manufacturers are launching new products with simple and premium ingredients in single-serve and convenient formats. Amid the COVID-19 crisis, the global market for Frozen Desserts estimated at US$83.3 Billion in the year 2020, is projected to reach a revised size of US$111.2 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Ice Cream, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$67.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Confectionary & Candies segment is readjusted to a revised 4.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $28.8 Billion in 2020, While China is Forecast to Reach $17.4 Billion by 2026

The Frozen Desserts market in the U.S. is estimated at US$28.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.4 Billion by the year 2026 trailing a CAGR of 7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR. Sales in emerging markets are expected to gain traction in the coming years led by changing dietary habits and rapid urbanization. Products with desirable qualities including low fat, cholesterol, sugar and calorie content, are poised to register robust growth and support market expansion. Innovative positioning of products coupled with creative advertising and attractive packaging will open new revenue generation opportunities for market participants.

Frozen Yogurt Segment to Reach $10.8 Billion by 2026

In the global Frozen Yogurt segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6.5 Billion in the year 2020 will reach a projected size of US$9.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$760.3 Million by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period.