Artisanal Ice Cream Market to Surpass US$ 22,075.2 Million by 2027 - Coherent Market Insights

Published On : Aug 02, 2019

The global artisanal ice cream market was valued at US$ 11,642.2 Million in 2018, according to Global Artisanal Ice Cream Market Report, by Flavor (Chocolate, Vanilla, Fruit & Nuts, and Others), by Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online Channel, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.

The global artisanal ice cream market is projected to reach US$ 22,075.2 Million by 2027, exhibiting a CAGR of 7.4% during the forecast period. Artisan ice cream is considered as a luxury and a premium frozen dessert. However, increasing urbanization, changing food habits, and rising disposable income, especially in emerging economies are major factors driving growth of the global artisan ice cream market during the forecast period.

For instance, according to Organization for Economic Cooperation and Development, the global middle class populace is projected to increase from 1.8 billion in 2009 to 4.9 billion by 2030. Disposable income in China increased to US$ 5,278.3 in 2017 from US$ 3562.2 in 2012.

However, higher prices of artisanal ice creams compared to industrial ice creams is expected to restrain growth of the global artisanal ice cream market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/artisanal-ice-cream-market-2967

Browse 27 market data tables* and 19 figures* on "Artisanal Ice Cream Market” - Global forecast to 2027.

Key Trends and Analysis of the Global Artisanal Ice Cream Market:

  • Among product type, chocolate segment accounted for the largest market share in 2018 in the global artisanal ice cream market. Chocolate flavor is utilized as a core ingredient and is being infused with other ingredients to innovate flavors for artisanal ice cream such as vanilla chocolate chip flavor, chocolate caramelized oat, banana walnut chocolate, peanut butter chocolate swirl, chocolate chip cookie dough, and others. Innovations in flavors, considering chocolate as a core ingredient in artisanal ice cream market, is expected to propel growth of the segment.
  • Among distribution channel, online channel segment was the fastest growing in global artisanal ice cream market in 2018. Factors such as easier access to payment & credit options, presence of large number of retailers offering online services, advancements in retailing services, 24 hours services with secured and convenient transactions, and a wide variety of offers provided by online retailers are attracting consumers to shift towards online channels. For instance, according to India Brand Equity Foundation (IBEG), Indian e-commerce market is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion in 2017.

Key Takeaways of the Market:

  • North America accounted for the largest market share of 30.3% in 2018 in the global artisanal ice cream market. This is attributed to business expansion strategies adopted by key players in the region. For instance, in December 2018, Van Leeuwen announced its plans to expand its business in the U.S. by opening new stores at six different locations in New York City and Los Angeles as well as multiple ice cream trucks in both cities.
  • Key players in the global artisanal ice cream market are focusing on enhancing their product portfolio. For instance, in March 2018, High Road Craft Brands launched three new flavors of ice creams such as cinnamon crumble, chocolate chip cookies and cream, and peanut butter chocolate.
  • Furthermore, players operating in global artisanal ice cream market are focused on offering organic and vegan ice cream, in order to cater to a wider consumer base. For instance, Lackey's Artisan Ice Cream, a U.S.-based ice cream company, offers homemade vegan ice cream products, which are prepared using organic and vegan ingredients such as organic cashew milk, organic coconut cream, organic extra virgin coconut oil, organic cane sugar, pure cocoa butter, and organic carob bean. It is available in a variety of flavors such as vegan Sicilian pistachio, vegan chocolate, vegan salted caramel, vegan honeycomb, and vegan peanut butter chocolate chip.
  • Major players operating in the global artisanal ice cream market include Unilever, Van Leeuwen, Nestlé S.A., Bi-Rite Creamery, Carmela Ice Cream Co., Gracie's Ice Cream, Boho Gelato, High Road Craft Brands, True & 12 Handmade Ice Cream, and Fiasco Gelato Cafes Ltd.

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