Market Highlights
Global Artisanal Ice Cream Market is estimated to be valued at USD 4,505.3 billion by 2025, expanding at a CAGR of 5.95% during the forecast period. The demand for artisanal ice cream has been growing significantly over the last few years. This can be attributed to the increasing number of specialty stores across the globe and a high preference for chocolate ice cream. However, the high price of artisanal ice cream is anticipated to hinder the growth of the market during the forecast period of 2019 to 2025. The introduction of organic and vegan artisanal ice cream is expected to create lucrative opportunities for the manufacturers of artisanal ice cream.
North America accounted for a significant share of the global artisanal ice cream market in 2018. The regional market is anticipated to exhibit a CAGR of 5.86% during the review period. The increasing consumption of frozen desserts including ice cream is anticipated to drive the growth of the market in North America. Among the North American countries, the US is estimated to retain its dominance during the forecast period. Europe accounted for a significant market share of 40.20% in 2018 and projected to register an above-average growth rate of 5.72% during the forecast period. The growth of the market in the region can be attributed to factors such as the high presence of artisanal ice cream stores. Germany and the UK are the major countries in the European artisanal ice cream market and accounted for more than 35% of the market share in 2018.
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Leading Players
Market Research Future recognizes Bi-Rite (US), Van Leeuwen (US), Gelato & Co (Italy), Jeni’s Splendid Ice Creams, LLC. (US), Lackey’s Artisan Ice Cream (US), McConnell’s Fine Ice Creams (US), The Saffron Ice Cream Company (UK), Graeter’s Inc. (US), ROGUEICECREAM (UK), and Gelato & Latte Este (Bulgaria) as the key players in the Global Artisanal Ice Cream Market.
Segmental Analysis
Global Artisanal Ice Cream Market has been segmented based on type, distribution channel, and region.
By type, the market has been divided into conventional and lactose-free. The conventional segment accounted for the larger market share in 2018 and is estimated to retain its dominance during the forecast period. The high demand for conventional artisanal ice cream is attributed to factors such as the easy availability and economical pricing of these products. However, the demand for lactose-free artisanal ice cream has been increasing over the last few years, especially in North America and Europe, due to the increasing prevalence of lactose intolerance in these regions. Moreover, the increasing adoption of veganism is likely to drive the demand for lactose-free artisanal ice cream.
Based on distribution channel, the global artisanal ice cream market has been classified as supermarkets & hypermarkets, specialty stores, and online. The supermarkets & hypermarkets segment accounted for a 20.14% market share in 2018. The segment is projected to exhibit a CAGR of 6.14% during the forecast period. The specialty stores segment is estimated to retain its dominance during the forecast period. However, the online segment is projected to register a high growth rate of 6.34% during the forecast period of 2019 to 2025.
Regional Analysis
Geographically, the Global Artisanal Ice Cream Market has been categorized as North America, Europe, Asia-Pacific, and the rest of the world (RoW). As per MRFR analysis, Europe dominated the market, accounting for the largest share, in 2018. The market in Asia-Pacific is expected to register the highest CAGR of 6.53% during the forecast period. North America accounted for the second-largest market share in 2018.
Key Findings of the Study
The global artisanal ice cream market is expected to register a growth rate of 5.95% from 2019 to 2025. The growing number of specialty stores, especially in emerging economies, is projected to fuel the growth of the artisanal ice cream market at a global level.
The market in Europe is estimated to remain the largest during the review period. It is projected to register a growth rate of 5.72% during the forecast period. The demand for organic artisanal ice cream has been increasing across Western Europe owing to the rising consumer inclination toward organic food & beverages.
On the basis of distribution channel, the online segment is expected to register an exponential growth rate during the forecast period.
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