Ice Cream Ingredients Market Expected to Reach $ 93.5 Billion by 2028 – Allied Market Research


Ice Cream Ingredient Market

PORTLAND, OR, USA, Oct 8, 2021 /EINPresswire.com/ – Rising demand for impulse ice cream desserts is driving market expansion, however, the industry is facing significant challenges due to the increasing prevalence of lactose intolerance among consumers

According to a new report released 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 expected to reach US $ 93.5 billion by 2028, with a CAGR of 8.5% during the forecast period. The global ice cream ingredients market was valued at US $ 50.1 billion in 2020 and is expected to reach US $ 93.5 billion by 2028, growing at a CAGR of 8.5% during the period forecast.

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In recent times, the emergence of specialty ice cream parlors, fast food chains, and the growing snacking trend across the world are driving ice cream consumption. The ice cream industry offers consumers an innovative and unique dining experience using different ingredients and flavors. The manufacturers of the Ice Cream Ingredients market are intensely focused on providing a reach experience in terms of taste and texture and the increasing consumption of ice cream is expected to support the growth of the global ice cream ingredients industry.

According to the report released by DPO International 2019, the global ice cream market size was valued at US $ 57.9 billion in 2018 and is expected to reach US $ 84.9 billion over the next 5 years. Thus, ingredient manufacturers are intensely focusing on developing and offering new products to meet growing market trends for innovative ice cream ingredients, such as low sugar milk fat, SNFs without lactose (solids not fat), sweeteners and others.

Increasing consumers’ disposable incomes, increasing living standards and improving their purchasing ability are just some of the factors boosting its per capita ice cream consumption, especially ice cream from impulse. The ingredients used in large quantities are milk fat, non-fat solid milk and sweeteners. Manufacturers have increased their manufacturing capabilities to meet global demand. In addition, growing consumer concerns about health and the environment have resulted in a growing demand for organic ice cream around the world. The ice cream ingredients market share is expected to increase in the global dairy sector during the forecast period, owing to the increasing popularity of ice cream in developing economies.

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The growth of the ice cream ingredients market is expected to increase due to the increase in the emergence of ice cream manufacturers and their demand for new formulations. Quick and convenient snacks, such as ice cream bars, sandwiches, popsicles, cones, mugs, and sticks require variations of ice cream ingredients. The demand for high fat ice cream and specialty ice cream has compelled manufacturers of ice cream ingredients to develop innovative offerings of ice cream in the ideal composition. Increasing demand for pulse and take-out ice cream is further expected to proliferate the demand for various ingredients in the global ice cream ingredients market.

Main conclusions of the study

On the basis of type, the dairy solids segment had the highest market share in 2020, growing at a CAGR of 7.4% and fat-free solid milk was the fastest growing type with a CAGR of 10.5% between 2021 and 2028.
Based on applications, the pulse ice cream industry accounted for around 45% of the market share in 2020. However, the artisanal ice cream category is expected to grow at a higher CAGR of 9.5% over the course of the year. Ice Cream Ingredients Market forecast period.
Based on region, Asia-Pacific accounted for around 40% of the market by share and is expected to grow at a CAGR of 9.2% during the forecast period.

Some of the major players described in the Analysis of Ice Cream Ingredients Market include Fonterra Co-Operative Group Limited, BASF SE, Tate & Lyle, Cargill, Incorporated, Royal FrieslandCampina NV, California Dairies, Inc., Dairy Farmers of America , Grassland Dairy Products Inc., Westland Milk Products (yili Group) and Hilmar Ingredients.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advisory services to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 verticals, including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverage, Energy & Electricity, semiconductors and electronics, automotive and transportation, ICT and media, aerospace and defense and BFSI.

We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Each of the data presented in the reports we publish is taken from primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.

Associated reports:

Sugar Free Ice Cream Market Analysis and Industry Forecast, 2021-2030

Ice Maker Market Opportunity Analysis and Industry Forecast, 2021-2027

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