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The MRFR report suggests that the global market for functional ice creams is estimated to thrive at a healthy CAGR of over 8.56% over the assessment timeframe. The report further predicts the market will acquire USD 319.8 million by 2028.
The functional ice cream market is still in its early stages of growth and is estimated to exhibit rapid growth over the forecasted era. The market’s growth is mainly attributed to the increasing consumer awareness across the globe. Furthermore, the changing eating habits and health-conscious binging have also caused an upsurge in demand for these products across several regions. In addition, the factors such as the increase in demand for functional products, high demand for organic and non-GMO products, the increasing discretionary income of the masses, and increased level of investments and innovative products lines are also anticipated to boost the market’s growth over the coming years. However, the high charges associated with these products may hamper the market’s growth.
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The global market for functional ice creams has been fragmented into several segments based on distribution channel, claim, flavor type, and region.
The global market for functional ice creams is split into blends, chocolate, vanilla, and others based on flavor type.
Based on the claim, the functional ice creams market is divided into multi-claim, vegan, sugar-free, lactose-free, and others.
Based on the distribution channel, the global functional ice cream market split into non-store-based and store-based channels.
The global market for functional ice creams is studied across four major regions, including North America, Europe, Asia-Pacific, and the Rest of the World.
The MRFR report suggests that the North American region led the global functional ice creams market in 2020 with the largest market share of over 54.7%. The regional market’s growth is primarily attributed to the existing substantial demand and new players entering the market. Furthermore, the palatability of the products has also caused the increased adoption trend of functional ice cream across the region. In addition, the factors such as high spending on plant-based products & dairy alternatives and increased discretionary income are also anticipated to positively impact the regional market’s growth over the coming years.
The function ice creams market for the European region is projected to hold the second position in the global market over the assessment era. The regional market’s growth is primarily credited to the adoption of healthier life choices during the post-pandemic demand. Furthermore, the growing awareness of lactose-free foods across the region is also expected to increase the demand for functional ice creams over the projected timeframe.
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The global market for functional ice cream is well-known for the presence of top players reporting for minimum revenue share in the market. The global players are investing heavily to launch innovative flavors and products due to the rapid surge in demand for functional ice creams worldwide. The players are also implementing various growth strategies to expand their global market reach. The global market for functional ice creams has prominent leaders such as Coolhull Farm (Ireland), The Urgent Company (United States), Wells Enterprises Inc. (United States), One Earth Functional Food Ltd (Canada), Foxy’s Thoughtful Icecream (United Kingdom), Nightfood (United States), Guudy Icecream (United States), LOHILO(Sweden), LightWhey (Dubai), The Brooklyn Creamery (India), and several others.
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