The growing demand for premium products, especially in developed regions such as North America and Europe, is expected to drive the ice creams sales in these regions.
The global ice cream market is anticipated to reach $78.8 billion by 2025, growing at a CAGR 4.1%, according to a new report by Grand View Research, Inc., San Francisco. The growing demand for premium products, especially in developed regions such as North America and Europe, is expected to drive the ice creams sales in these regions. The major growth is expected to come from developing regions such as Asia Pacific, Latin America and MEA. Countries such as India and China have a large consumer base, which is expected to drive the sales in terms of both volume and value. However, growing number of health-conscious consumers is expected to limit the market growth over the forecast period.
The demand for lactose-free is also expected to contribute to the market growth during the forecast period. The increase in demand for lactose-free ice creams is driven by increase in cases of food intolerances and allergies. Thus, the consumers having lactose intolerance pick lactose-free ice creams. Also, these products are opted by health-conscious consumers who prefer healthy foods.