The global Artisanal Ice Cream Market is estimated to be valued at US$11,642.2 million in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period of 2023 to 2030, according to a new report published by Coherent Market Insights.
Market Overview:
Artisanal ice cream refers to ice cream that is handmade in small batches using high-quality ingredients and traditional methods. It often incorporates unique flavors and indulgent add-ins, appealing to consumers who prioritize taste and quality. The market for artisanal ice cream is driven by the increasing demand for natural and organic products, as consumers are becoming more health-conscious and seeking out premium alternatives to mass-produced ice cream. Additionally, the growing preference for handcrafted and unique flavors is creating opportunities for artisanal ice cream makers.
Market Key Trends:
A key trend in the artisanal ice cream market is the rising popularity of plant-based varieties. With a growing number of consumers adopting vegetarian, vegan, and flexitarian lifestyles, there is a rising demand for dairy-free alternatives. Artisanal ice cream makers are incorporating ingredients like coconut milk, almond milk, and cashew milk to create indulgent and creamy non-dairy options. These plant-based varieties offer a healthier alternative for individuals with dietary restrictions or those seeking more environmentally friendly options. The trend towards plant-based ice cream is expected to continue as consumer preferences shift towards more sustainable and ethical choices.
Porter's Analysis:
Threat of New Entrants: The artisanal ice cream market faces a moderate threat of new entrants. While the market is saturated with several key players, the barriers to entry are relatively low. New entrants could potentially introduce innovative flavors or unique marketing strategies to differentiate themselves from existing brands.
Bargaining Power of Buyers: Buyers in the artisanal ice cream market have a moderate level of bargaining power. With a wide range of artisanal ice cream brands available, buyers have the option to choose from different flavors and price points. This gives them some leverage in negotiating prices and seeking promotional offers.
Bargaining Power of Suppliers: Suppliers in the artisanal ice cream market have a relatively low bargaining power. The main ingredients for artisanal ice cream production, such as milk, sugar, and flavorings, are widely available from various sources. This allows ice cream manufacturers to switch suppliers easily and negotiate competitive prices.
Threat of New Substitutes: The threat of new substitutes in the artisanal ice cream market is low. While there are alternative frozen desserts available, such as gelato or frozen yogurt, artisanal ice cream offers a unique taste and texture that is difficult to replicate. Consumers who prefer the rich and indulgent experience of artisanal ice cream are unlikely to switch to substitutes.
Competitive Rivalry: Competitive rivalry in the artisanal ice cream market is high. The market is fragmented, with numerous artisanal ice cream brands competing for market share. Key players in the market invest in continuous product innovation, unique flavor offerings, and effective marketing strategies to differentiate themselves and gain a competitive edge.
Key Takeaways:
The Global Artisanal Ice Cream Market Size is expected to witness high growth, exhibiting a CAGR of 7.4% over the forecast period. This growth can be attributed to the increasing consumer demand for premium and indulgent desserts. Artisanal ice cream offers a unique and gourmet experience, appealing to consumers looking for high-quality and distinctive flavors.
In terms of regional analysis, North America is the fastest-growing and dominating region in the artisanal ice cream market. This can be attributed to the rising disposable income, changing consumer preferences towards premium desserts, and the presence of key players in the region. The United States, in particular, holds a significant market share in the North American region.
Key players operating in the 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. These players focus on product innovation, unique flavors, and effective marketing strategies to maintain their market presence and gain a competitive advantage.
Read More- https://www.newsstatix.com/artisanal-ice-cream-market-growth-insights-and-forecast-analysis/
