One of the most popular and high-selling segments in the global confectionery industry, the chocolate ice cream market is expected to witness considerable growth during the forecast period for this study, 2018 to 2023.
This report analyses the current status of the global chocolate ice cream market, outlines the key market drivers and the bases for market segmentation, and studies the future trends of this market from 2018 till 2023, using 2013 -2017 as the historical base.
The leading market players operating in the global chocolate ice cream market are Nestlé S.A. (Switzerland), General Mills, Inc. (US), Unilever PLC (UK), Jude’s Ice Cream (UK), Straus Family Creamery (US), Halo Top Creamery (US), and Gujarat Cooperative Milk Marketing Federation Ltd (India).
According to industry surveys, the global chocolate ice cream market is set to reach USD 25,521.7 million by the end of 2023, growing at a CAGR of 4.73%. The main growth drivers for this market include a higher preference for chocolate flavor over other ice cream flavors coupled with the rising number of ice cream parlors, ensuring easier availability. Furthermore, the trend of customized ice cream stores is increasing as consumers now prefer frozen desserts as per their individual preferences.
On the basis of product type, the global chocolate ice cream market can be split into sticks/bars, cones, cups, tubs, bricks, and others. In 2017, the cups, tubs and bricks segment occupied the largest market share and this segment is expected to reach USD 11,765.9 million by the end of 2023. However, sticks/bars is expected to be the fastest growing segment growing at a rate of 5.99% during the forecast period.
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Based on distribution channel, the global chocolate ice cream market has been split into supermarkets, hypermarkets, convenience stores, specialty stores, and others. Of these, the supermarkets and hypermarkets segment was the market leader in 2017, and is expected to remain at this position during the forecast period. However, industry experts predict that the specialty stores segment will register the highest growth at a CAGR of 6.16%.
North America, Europe, Asia-Pacific, and the Rest of the World are the major regions for the chocolate ice cream market across the world.
In terms of value, Asia-Pacific is estimated to occupy the largest market share in the global chocolate ice cream market, growing at a rate of 6.88% during the forecast period. This could be due to the rise in disposable income and the willingness of consumers to pay high prices for premium products. Additionally, the major chocolate ice cream manufacturers are focusing on this region, especially China and India, to increase their sales revenue. While China occupied the largest market share in APAC in 2017 and is expected to retain its position during the forecast period, the market in India is predicted to witness considerable growth.
According to industry reports as of May 2019, the global market for organic ice cream will grow at a CAGR of 4% to reach 1.2 billion USD by 2025. This could be due to a rising consumer preference for artisanal ice creams which have low amounts of added sugar and preservatives.
Australian brand Peters is turning Cadbury chocolate bars into ice creams. The two reputed brands are coming together to create the ultimate range of desserts.
Table Of Contents – Key Points
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Chocolate Ice Cream Market, by Product Type
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