Europe Ice Cream Market to reach US$ 28.4 Billion by 2027
The Europe ice cream industry is driven by the rising sales of convenience foods and the launch of low-fat and sugar-free ice cream variants in the market.
According to Renub Research report titled “Europe Ice Cream Market Forecast 2021-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis” the Europe Ice Cream Market Size was US$ 21.7 Billion by 2021. Ice-creams and frozen desserts are frozen foods traditionally eaten as snacks and desserts worldwide. Ice-creams are usually prepared from dairy products, say cream and milk. Flavors, colors, sweeteners, stabilizers, preservatives, and emulsifiers are added to enhance these products' taste and shelf-life. Around the world, diverse cultures have different varieties of ice creams and frozen desserts popular in their countries. For instance, Italian people want Gelato after dinner or lunch.
Factors Driving the Europe Ice Cream Industry
In the European region, demands for ice-creams that are made using natural ingredients, low on fats, and at the same time don't compromise on taste and indulgence is surging. European countries like Germany and Italy, UK are the biggest ice-cream markets. Over the time, indulgence and the growing consumer preference for ice cream as a leisure product drove the market's growth, and new innovative flavors, offered by companies, further act as a catalyst for demand generation.
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Besides, consumer demand for naturally flavored, rising health concerns, and sweetened ice-creams and handcrafted ice-creams is growing. Apart from that, product innovation in ice cream, economic growth, retail market expansion and growth in disposable income are projected to have high impact on ice cream market and market share in the European region.
European Ice Cream Market is expected to grow with a CAGR of 4.59% during 2021-2027
The development of retail channels contributes to the growth of the ice cream market. Further, retail channels such as hypermarkets, supermarkets, convenience stores, and others act as marketing tools that assist in building an impressive premium image and increase brand exposure of a wide variety of ice cream products. The company’s product innovation is also diversifying the offerings and assists in meeting varying consumer demands. While economic growth is also helping to continue to increase customers' spending power. Also, increasing demand for innovative products and the development of lactose-free ice cream provides growth opportunities for the ice cream market extension. However factors like health concerns associated with ice creams may hinder the growth a bit.
COVID Impact on Europe Ice Cream Industry
During the COVID-19 pandemic, the European ice-cream market exhibited sluggish growth due to the economic slowdown and supply chain disruptions over the period. Further, market revenues continue to be impacted by growing health issues concerning lifestyle diseases and the pandemic. Also, European people were avoiding ice cream as they felt it made them susceptible to COVID-19. Moreover, we expect post-pandemic recovery and growth in the ice cream industry in the region.
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Product Type: The market has segmented into Artisanal, Impulse and Takes home
Ingredients: The report covers by Ingredients like Whole Milk, Skim Milk, Cream, Sweetening & Flavoring Agent, Other (Egg Yolk, Stabilizers, and Emulsifiers)
Category: We have studied the market by Category into Choc Snacks, Premium Ice-Cream, Luxury Ice Cream, Filled Cones, Children's, Standard Ice-Cream, Adult Refresh, and Daily Ice Cream Desserts, and Individual Ice-Cream
Application: This segment is divided into Commercial and Residential
Distribution Channels: Market is categorized into On Tread, Hypermarket & Supermarket, Food & Drink Specialists, Convenience Stores and Others
Producing country: The markets of producing countries in the Europe are Germany, Italy, Spain, France and the United Kingdom
Company: We have studied the Overviews, recent developments and sales analysis of following companies General Mills Inc., Nestle S.A., Unilever, Baskin Robbins, and Lotus Bakeries
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