The Global Ice Cream Powder Market size is estimated to reach $958.2 million by 2027. Furthermore, it is poised to grow at a CAGR of 3.7% over the forecast period of 2022-2027. Ice cream powder is manufactured with hydrogenated and refined vegetable oil. It’s processed to provide fat and powdered milk for ice cream production, both smooth and firm. Vanilla powder, chocolate hazelnut, strawberry, cocoa powder, mango, and peach are among the ice cream powder mix flavors available. Also, there are plain, flavorless powder to blend with customized flavors. Summer is unquestionably the best time of year to eat ice cream and other frozen instant desserts. The availability of many flavored ice creams is largely responsible for the ice cream industry’s growth. As a result of this, ice cream consumers are willing to spend a higher price for these items, increasing market income. To adapt to evolving consumer tastes, manufacturers are broadening their product variety by introducing exotic flavors such as tropical fruits, coconuts, and lemons. Furthermore, clients who are health-conscious choose an ice cream powder that is minimal in calories and fat. Thus, ice cream powder product innovation, economic growth, rising disposable income, the development of lactose-free ice cream powder, and retail market expansion promote global market growth and development. The health issues linked with ice cream powder, on the other hand, limit the market’s growth. In addition, experiencing economic chain problems that hampered ice cream sales during COVID-19, the ice cream powder sector suffered. Also, many people avoided ice cream because they thought it may make them susceptible to COVID-19. Moreover, owing to increasing health concerns about ice cream consumption, consumers are now selecting GMO-free, hormone-free, additive- and preservative-free, dairy-free, low-calorie, organic, and fat-free ice cream products.
Global Ice Cream Powder Market Segment Analysis- By Nature
The Global Ice Cream Powder market based on nature can be further segmented into organic and conventional. In 2021, the organic category had the most market share. As consumers become more aware of the link between diet, health, and the environment, the public perception of organic foods is rising. Organic ice cream powder alternatives are making their way into bakeries, confectioneries and even frozen desserts ice cream powders. Organic ice cream powders have been gaining popularity in recent years, thanks to the increased popularity of organic milk and milk powder derived from cows fed organic nutrition. However, a growing segment of customers who identify as “vegan” continue to desire plant-based ice cream powders. In the global market, this segment is also anticipated to have the fastest CAGR of 3.8%, during the forecast period 2022-2027. Growing worries about animal welfare in the food and beverage sector, a decline in animal-based product consumption, and a rapidly expanding selection of alternatives have led to the emergence of vegan culture and, as a result, organic ice cream powders. As research continues to correlate a vegan diet to a healthier, longer life, organic ice cream powders are predicted to be in high demand in the future. Furthermore, the market for organic ice cream powders is anticipated to gain from an increase in lactose sensitivity among an increasing number of customers, which has resulted in increased sales of vegan cheese and plant-based protein beverages.
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Global Ice Cream Powder Market Segment Analysis-By Distribution Channel
The Global Ice Cream Powder market based on the distribution channel industry can be further segmented into supermarkets/hypermarkets, wholesale outlets, retail outlets, online outlets and others. The online outlets will have the most market share in 2021. This is directly proportional to the persistent adoption of fast foods followed by the inclination of homemade foods during the pandemic. Hence, ordering online for home delivery normally opted to buy options across the globe for such products pertaining to the hygienic conditions and precautionary measures implemented by the governmental bodies. During the projection period 2022-2027, the segment is forecast to account for the fastest growth with a CAGR of 4.1% growth. In the coming years, the ice cream powders segment is considered to have significant growth potential as online retail sectors offer customers a variety of products meeting the need for healthier life aspirants. In addition, various outlets are adopting e-commerce models thereby, making it easier for time-crunched consumers by providing a list of products that follows the flavor trends.
Global Ice Cream Powder Market Segment Analysis- By Geography
The Global Ice Cream Powder market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. In 2021, the global Ice Cream Powder market was dominated by the Asia-Pacific region with 36% of the market share. The presence of several local and regional players, various government initiatives to promote the growing demand for organic food products, and increasing applications at commercial as well as in household foods, are all factors contributing to the large share of this regional market. Furthermore, rising disposable income and a higher level of living help the market flourish. In the ice cream powder market prediction, India and China are expected to develop significantly. For ice cream manufacturers, Australia is the most appealing market. Apart from that, the rising population in developing countries leads to an increase in demand for Asian foods, expanding disposable income of middle-income people, and consumers shifting away from artificial ingredients or additives in food products, all of which contribute to an increase in demand for Ice Cream Powder, are some of the major factors driving the global ice cream powder market. Additionally, businesses are seeking various government certifications in order to get a competitive advantage as well as increase their client base by producing unique goods that match consumer desire for rich, creamy, and organic dairy flavours. During the projected period, ice cream powder products are anticipated to expand the ice cream powder market.
Global Ice Cream Powder Market Drivers
The innovation of premium and innovative flavours is propelling the market growth.
Ice cream powder producers are developing goods with premium and novel ingredients in order to obtain a competitive advantage and appeal to a wider audience. As a result, their customer base grows as well. Furthermore, the advantageous regulations take into account the market’s advances. For example, the FDA sponsored a public hearing on cannabidiol legalisation in the United States. As a result, significant businesses are seizing the chance to differentiate their offerings by releasing new items. In addition, liquorice cream powder is becoming increasingly popular in developed regions such as North America and Europe. Because the goods contain less than 0.5 per cent alcohol, they may be found in a variety of grocery and specialised stores. As a result, premium products with both novel flavours and a high level of enjoyment are driving market expansion.
Rising expenditure on R&D and digitalization by manufacturers are on the rise which is fuelling market expansion.
There is an increase in the expenditure by the key players of the market towards digitalization and product R&D as it is considered to have a positive impact on the global ice cream powder market growth. Manufacturers of ice cream powders are actively investing in digitalization in order to increase their consumer base. The players are also opting for such channels for their promotion of the product and the brand as a whole. Through these social media and digital marketing platforms, the market players are targeting the millennial and the health-conscious consumers thereby, investing their finances and engaging them into ads on social media for promotion which is aiding towards a broader consumer base.
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Global Ice Cream Powder Market Challenges
Processing fees are excessively high have hampered production and are to represent a potential threat to the market expansion.
Plant-based ice cream powders, like any other plant-based or natural product, are thought to provide a number of functional advantages over conventional ice cream granules. In addition, frozen dessert manufacturers are reformulating ice cream to appeal to health-minded and environmentally sensitive customers. Plant-based ice cream powders, on the other hand, are significantly more complicated to make than their traditional equivalents, resulting in high processing costs. Removing dairy from ice cream powder leads to a more complicated food label since more ingredients are needed to get the desired taste and texture. Plant-based ice cream powder sales are projected to be harmed as a result of these issues. Plant-based ice cream powders are becoming more popular, despite their higher price tag when compared to conventional ice cream powders and formulation challenges. The plant-based market, which caters to a wide range of consumers concerned about environmental issues and who choose to forgo animal-based products for ethical reasons, is projected to grow to be a multi-billion dollar industry in the near future.
Global Ice Cream Powder Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Global Ice Cream Powder top 10 companies include:
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A. US Non-Dairy Cream Cheese Market
B. Powdered Milk Market
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