Market Study Overviews
Market Research Future (MRFR) studied the global Artisanal Ice Cream Market Overview
The Artisanal Ice Cream Market Size is expected to reach a value of USD 97 Billion by 2028, at a CAGR of 5.80% over the forecast period ending in 2028 from the year 2021. The Artisanal Ice Cream Market value was recorded at USD 62.40 Billion in the historic forecast period which ended in 2019. According to industry analysts, the global market share is expected to increase because of factors such as rising living standards and a growing taste for luxury items, as well as people embracing a healthier lifestyle.
The shift in preference of consumers for fruit-flavored ice cream is expected to underpin the expansion of the artisanal ice cream market. The increasing demand for artisanal ice cream owing to changes in living standards and an increase in urban lifestyle can support the expansion of the market. The ongoing snacks trend among the young population and the increase in the popularity of artisanal ice cream among them can add to the market upsurge. On the contrary, the high price of artisanal ice cream and the rise in health issues, such as diabetes, are expected to pose threat to the growth of the market. However, the increase in the consumer base for artisanal ice cream as a healthier snack can mitigate the surfacing issues.
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Market Segment
The segment analysis of the artisanal ice-cream market is based on distribution channel and type. The type-based segments of the artisanal ice-cream market are lactose-free and conventional. The conventional artisanal ice cream segment can earn around USD 3,694.6 Mn by 2025. At the same time, the lactose-free segment is expected to register market expansion soon. The fastest-pace growth rate of the lactose-free segment is due to its high sales in Europe and North America regions with a large pool of lactose-intolerant people.
The global artisanal ice cream market’s segment analysis comprises supermarkets and hypermarkets, online, and specialty stores. Key distribution channels considered in the market study are specialty stores, online and supermarkets & hypermarkets. The supermarkets & hypermarkets segment is anticipated to secure a share of about 20.14% of the global market share. MRFR’s finding suggests that the artisanal ice cream market is expected to surge at 6.14% CAGR in the study period. The market segment of specialty stores owing to the need for a better shopping experience. The online segment is likely to rise at a high pace owing to the increasing demand for online purchases. The online segment is likely to surge at 6.34% CAGR by 2025.
Regional Analysis
In Europe, the artisanal ice cream market size is expected to secure a decent share of the global market at 34.93% by 2025. As per MRFR data, the UK is identified as a prime contributor to the regional market, following Germany. The artisan ice cream market in the UK is likely to generate considerable revenue for the market in the years to come. The surge in the number of artisanal ice cream manufacturers in the country that are actively involved in deploying expansionism strategies to capture a higher customer base by the introduction of new, nutrient ingredients-infused artisanal ice creams can favor the EU market.
In the Asia Pacific, the artisanal ice cream market is likely to rise by 6.53% in the analysis period from 2019 to 2025. By 2025, rapid urbanization and a hike in the income of the middle-class population can favor APAC’s artisanal ice-cream market in the year to come. The inclination toward a variety of frozen desserts and surge in their consumption rate can favor the Asia Pacific artisanal ice-cream market upsurge. The market in China, New Zealand, and Australia can register a considerable growth pace in the foreseeable future.
Competitive Dashboard
Suppliers in the artisanal ice cream industry are focused on improving their global ranking, and thus are striving to enter regions with untapped business potential. Key players are introducing new flavors to improve their product portfolio, thereby contributing to creating a global presence. Some top brands are known to acquire smaller-sized companies to create brand awareness across multiple locations and garner a bigger share in the global artisanal ice cream market. Jeni’s Splendid Ice Creams LLC. (US)Bi-Rite (US), Gelato & Co (Italy), Graeter’s Inc. (US), McConnell’s Fine Ice Creams (US)Van Leeuwen (US), ROGUEICECREAM (UK), Gelato & Latte Este (Bulgaria), Lackey’s Artisan Ice Cream (US), and The Saffron Ice Cream Company (UK) are some key players in the artisanal ice cream market.
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