The rapid expansion of the retail market, the availability of various flavored ice creams and the awareness of healthy eating have driven growth.
PORTLAND, OR, USA, Aug 9, 2021 /EINPresswire.com/ – Allied Market Research released a report titled ‘Sugar Free Ice Cream Market by Type (Vanilla, Chocolate, Mint Chips, Strawberry, Salted Caramel, peanut) Butter, coffee and others), shape (pints, bars / sticks, sandwiches and others), end use (B2B and B2C) and distribution channel (supermarkets and hypermarkets, convenience stores, specialty stores and online sales channel): Global opportunity analysis and industry forecast, 2021-2030. According to the report published by Allied Market Research, the global sugar-free ice cream market was estimated at $ 2.52 billion in 2020 and is expected to reach $ 7.35 billion by 2030, registering a CAGR of 9.6 % from 2021 to 2030.
Drivers, constraints and opportunities-
The rapid expansion of the retail market, the availability of various flavored ice creams, and the awareness of healthy eating have driven the growth of the global sugar free ice cream market. On the other hand, the limited sale due to seasonal products hinders the growth of the market. However, the advent of lactose-free ice cream and the development of innovative sugar substitutes are expected to pave the way for lucrative opportunities in the industry.
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The COVID-19 outbreak has given way to strict lockdown regulations imposed by several government agencies, and the lack of manpower has negatively impacted the global sugar-free ice cream market, in particular during the first phase of locking.
The prolonged lockdown in China, Japan, India and the United States has also resulted in the closure of production facilities that do not fall under essential goods. And the distorted supply chain has completely hampered the market. However, the global situation is improving and the market is expected to improve soon.
The vanilla segment to carve out the lion’s share
On the basis of flavor, the vanilla segment held the major share in 2020, gathering more than a fifth of the global sugar-free ice cream market, due to its delicious taste and wide use in manufacturing. various recipes such as ice cream pie, ice cream kolachkes, ice cream sandwiches, milkshakes, toppings for peach sundae and pies. Salted caramel segment, on the other hand, is expected to boast the fastest CAGR of 10.9% throughout the forecast period, owing to the huge popularity of sweet and salty taste among consumers.
The pints segment will dominate by 2030-
On the basis of form, the pint segment contributed the lion’s share in 2020, holding more than a third of the global sugar-free ice cream market. The shift in consumer preferences towards the food products consumed at hand is acting as a key factor for the growth of the segment. However, the sandwich segment is expected to post the fastest CAGR of 10.1% from 2021 to 2030. Ice cream sandwiches are ideal treats for portion control, containing 150 calories per sandwich. This factor drives the growth of the segment.
North America held the largest share in 2020-
By region, the North American market dominated in 2020, bringing together nearly a third of the global sugar-free ice cream market. This is due to increased consumer awareness, high disposable income, increased demand for healthy food products, and growing health awareness among individuals in this province. Simultaneously, the Asia-Pacific region is expected to quote the fastest CAGR of 10.2% throughout the forecast period. Improved living standards and increased purchasing power of consumers increase per capita consumption in emerging economies such as India and China. This factor is propelling the market growth in this region.
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Key players in the industry
• Baskin Robbins
• Hershey Creamery Company
• Mammoth creameries
• Nestlé SA
• Turkey Hill Dairy
• Wells Enterprises, Inc.
• Beyond Better Foods, LLC
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