Chocolate flavor segment of organic ice cream market will observe high growth by 2024
Date: 2019-02-20   Author: Rahul Sankrityayan  Category: #market

Chocolate flavor segment of organic ice cream market will observe high growth by 2024

Rising product adoption for preparing smoothies, sorbets, and shakes will enhance organic ice cream market penetration. Growing preference for homemade ice cream due to its natural content will fuel artisanal ice cream market growth. The segment will surpass USD 350 million in revenue by 2024. Organic Ice Cream Market is estimated to hit USD 1.2 billion by 2024; according to a new research report by Global Market Insights, Inc.

Increasing consumer preference for nutrient rich ice cream due to rising prevalence for healthy lifestyle will drive organic ice cream market size. Presence of naturally processed sweeteners and preservatives will remain key factors stimulating product demand.

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Take home dominates the overall product demand and accounted for over 50% of industry share in 2016. Rising demand from families for multi serving frozen food items providing improved ease of handling in occasions and gatherings will propel demand. Impulse product will observe over 3.5% growth up to 2024. Rising economies with an upsurge in consumer purchasing power coupled will drive demand. Sandwiches, snow lollies, popsicles, and cones are key revenue generating product type.

Whole milk accounted for over 22% of the overall ingredient segment in 2016. Increasing whole milk usage as an ingredient for product due to growing preference for fat free products will propel demand. Limited material availability at premium price will impact organic ice cream market profitability. Emergence of non-dairy ice creams with naturally processed coconut and almond milk will open new opportunities for industry growth.

Vanilla flavor accounted for more than 29% in the overall organic ice cream market share in 2016. Rising consumer awareness regarding pure and natural ingredients have propelled food manufacturers to use pure vanilla in recent times. Chocolate industry expansion owing to increasing awareness associated to natural cocoa will drive demand in this segment. Mint chocolate, butter pecan, strawberry, and black raspberry are among the key revenue contributing flavors.

Among several key distribution channels, on trade holds largest industry share with over 60% of the overall demand. Shifting preference to consume product before or after meals along with increase in number of local restaurants, hotels and product parlours will fuel industry growth. Paper & board packaging accounted for over 43% in 2016, attractive packaging at competitive price is among the key factor fuelling demand in this segment. Rigid plastics packaging will witness highest gains over the forecast period. Superior properties including improved impact strengthen along with attractive decorative and see through prints for labelling will propel demand.

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U.S. organic ice cream market will generate over USD 500 million in revenue by 2024. Large presence of domestic producers coupled consumer preference for organic products even at premium price will positively influence regional industry growth. Australia, New Zealand, U.S., Sweden, Denmark, and Italy are among the highest per capita/ litre consuming countries. New Zealand and Australia witnessed around 28 and 18 per capita ice cream consumption in 2015.

Global industry share is at nascent stage with Nestle, Lotte Confectionary, Weight Watchers International, Mars, Tillamook, Blue Bell, So Delicious Dairy Free, Dean Foods, Amul, Unilever and Mikawaya being the major industry players.



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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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