The global ice cream ingredients market size was valued at US$ 50.1 billion in 2020 and is projected to reach $93.5 billion by 2028, growing at a CAGR of 8.5% during the forecast period. Asia-Pacific is the major hotspot in the global ice cream ingredients market that solely accounted for more than 40% of the overall ice cream ingredients market share in 2020. The impact of COVID-19 has been unprecedented resulting in the decline of the overall demand for ice cream and other frozen dessert products. As a result, the demand for ice cream ingredients witnessed the negative impact of the pandemic and its manufacturers are responding quickly to incorporate necessary actions and to minimize the effect of this global crisis. The market is anticipated to normalize in the next couple of years with the higher demand for ice creams and its ingredients.
The demand for novel ice cream ingredients continues to rise steeply owing to the rapidly growing urbanization and improving technological advancements in the global dairy sector. The manufacturers are intensively launching experimental formats of ice cream products in the market. Utilization of novel ingredients and flavors such as milk fats, solids, and natural colorants are the main factors boosting the annual revenue of the market. Innovations and experimental flavors, ingredients, and source of raw materials are the key factors that strengthen the global ice cream market.
Ice cream ingredient manufacturers are capitalizing on delivering quality products to ice cream producers to meet the growing demand for healthier formulation and authentic products in the market. While the nutritional attributes and taste factors are important parameters among the ice cream producers, the global ice cream ingredients industry is projected to exhibit a growth during the global ice cream ingredients market forecast period.
Along with the rapidly growing urbanization and improving technology advancements in global dairy sector, the demand for sophisticated and novel ice cream products continues to rise steeply in the global marketplace. The manufacturers are becoming competitive and launching experimental formats of ice cream products in the market. Utilization of novel ingredients and flavors such as milk fats, solids, and natural colorants are the main factors boosting the annual revenue if ice cream market. Innovations and experimental flavors, ingredients, and source of raw materials are been the key factors to strengthening the global ice cream market.
However, rise in prevalence of lactose intolerance across the globe limits the ice cream ingredients market growth. Milk and other dairy products are the major sources of lactose. It is a type of sugar found in milk naturally and the inability to digest such lactose/sugar defines the nature of lactose intolerance. This intolerance can be severe or mild resulting in cramps, bloating, pain, gut issues, vomiting, and others. The composition of ice cream majorly comprises milk fat and other milk/dairy solids which offers a significant amount of lactose in the form of final product in the market.
Segment review
The global market is segmented into type, application, and region. By type, the market is classified into milk fat, milk-solid-not-fat, sweeteners, dairy solids, and others (stabilizers, modifiers). Dairy solid is dominating among other types in the market owing to its superior properties, rich creamy offerings as ingredients.
By application, the market is classified into artisanal ice cream, impulse ice cream, and take-home ice cream industries. The continuous adaption of convenience food products among the young population, millennials, and other age group all across the world have made the industry dominant over others i.e., artisanal and take-home. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of type, the market is segmented into milk fat, milk-solid-not-fat, dairy solids, sweeteners, and others. Dairy solids are the main ingredients while manufacturing ice cream and dominates the market as it offers milky richness and textural benefits to the product. However, sweeteners and milk solids-not-fat (MSNF) are expected to exhibit a decent growth during the forecast period.
By Type
Milk-solid-not-fat segment would exhibit the highest CAGR of 10.5% during 2021-2028.
On the basis of application, the market is segmented into artisanal ice cream, impulse ice cream, and take-home ice cream industries. The global ice cream ingredients market is purely driven by the abundant utility of dairy ingredients in these applications. Impulse ice cream segment dominates the market over its other variants.
By Application
Artisanal ice cream segment would exhibit the highest CAGR of 9.5% during 2021-2028.
The report focuses on the market growth prospects, restraints, and opportunities during the forecast period. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the market.
By Country
Asia-Pacific would exhibit the highest CAGR of 9.2% during 2021-2028.
Some of the key players profiled in the ice cream ingredients market analysis include Fonterra Co-Operative Group Limited, BASF SE, Tate & Lyle, Cargill, Incorporated, Royal FrieslandCampina N.V., California Dairies, Inc., Dairy Farmers of America, Grassland Dairy Products Inc., Westland Milk Products (yili Group), and Hilmar Ingredients.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the current ice cream ingredients market trends, estimations, and dynamics of the market from 2020 to 2028 to identify the prevailing opportunity.
- The key countries in all the major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- A comprehensive analysis of factors that drive and restrict the market growth is provided.
- An in-depth analysis of the market helps determine the prevailing market opportunities.
- The report includes detailed analysis of the regional and global markets, key players, market segments, competitive scenarios, sales areas, and growth strategies.
Ice Cream Ingredients Market Segments
By Type
- Milk Fat
- Milk-solid-not-fat
- Sweeteners
- Dairy Solids
- Other
By Application
- Artisanal Ice Cream
- Impulse Ice Cream
- Take-home Ice Cream
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Sweden
- Italy
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- Rest of Asia Pacific
- LAMEA
- Brazil
- Turkey
- UAE
- Rest of LAMEA
Ice Cream Ingredients Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Application |
|
 By Region |
|
 Key Market Players | Grassland Dairy Products, Inc., Westland Milk Products (Yili Group), Tate & Lyle, .BASF SE, Cargill Incorporated, California Dairies, Inc., Fonterra Co-Operative Group Limited, Royal FrieslandCampina N.V., Dairy Farmers of America, Hilmar Ingredients |
Analyst Review
The ice cream ingredients market is witnessing a decent growth since past several years and expected to perform steady growth during the forecast period (2021-2028). The rise in indulgence among the consumers for desserts and increase in dine out trends have shaped the global ice cream market. The consumers are looking for novel and unique ice cream ingredients that offer health benefits along with the taste and texture. Followed by the Asia-Pacific, North America is the major market for ice cream ingredients as the demand for ice cream has grown decently in the past few years.
The surge in concerns of consumer over consumption of ice cream owing to the rise in prevalence of diabetes and lactose intolerance is creating an impediment in the global ice cream and ice cream ingredients market. However, the ice cream ingredients manufacturers are intensively focusing on delivering especially ingredients for health-conscious consumers and to mitigate the concerns of consumers over their health. For instance, Beckon Ice Cream has launched a new product line serving lactose-free ice cream products in 2019 to support the demand from lactose intolerant people in the U.S. Thus, ingredient manufacturers are getting a huge opportunity by developing their ingredient ranges by adding a synthetic lactase into their dairy products such as dairy solids, SNF, and others.
Global ice cream ingredients market size was valued at US$ 50.1 billion in 2020 and is projected to reach $93.5 billion by 2028.
The forecast period in the Ice Cream Ingredients Market report would be 2021-2028.
The year 2020 is the base year calculated in the Ice Cream Ingredients Market report.
Fonterra Co-Operative Group Limited, BASF SE, Tate & Lyle, and Cargill, Incorporated are few of the top companies hold a major market share in the Ice Cream Ingredients Market.
Milk-solid-not-fat is the most influencing segment growing in the Ice Cream Ingredients Market report.
Asia-Pacific holds the maximum market share of the Ice Cream Ingredients Market.
The company profiles selected on the basis of company’s market share, annual revenues, their product portfolio, frequency of new product launch, number of manufacturing facilities, their global presence, and other financial indicators.
Global ice cream ingredients market value was valued at US$ 50.1 billion in 2020.
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