The global ice cream market size is anticipated to showcase eminent growth owing to the constant product innovation from major players, observes Fortune Business Insights™ in its report, titled, “Ice Cream Market Size, Share & COVID-19 Impact Analysis, By Type (Impulse Ice cream and Take Home), Flavor (Vanilla, Chocolate, Fruit, and Others), Packaging (Cup, Cone, Stick, Brick, Tub, and Others), Distribution Channel (Hypermarket/Supermarket, Ice cream Parlor, Online Retailer, and Others), and Regional Forecast, 2020-2027.” The market size reached USD 70.85 billion in 2019 and is anticipated to reach USD 91.90 billion by 2027, exhibiting a CAGR of 4.01% during the forecast period.Traveling Restrictions to Have Adverse Impact on Businesses amid COVID-19The COVID-19 pandemic has had a drastic impact on the global economy.
Nationwide lockdowns and traveling restrictions have disrupted the global supply chain, negatively impacting businesses across the globe.
At Fortune Business Insights, we are constantly analyzing these challenges in order to provide feasible solutions.Highlights of the Report:While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region.
In addition, the increasing adoption of premiumized ice creams made from rich ingredients is anticipated to further enhance growth.
However, the seasonal nature of the primary product is projected to hinder growth during the forecast period.Segment-Premium Vanilla Extracts to Drive Segment GrowthOn the basis of flavor, the vanilla segment dominates the market with a total share of 30.22%.
On the basis of type, the impulse segment is projected to rise at a considerable ice cream market share stoked by innovation and consumer-oriented packaging.Top Regional Insights-Rapid Urbanization to Help Asia Pacific Gain ProminenceAsia Pacific is estimated to dominate the global market with a market value of USD 15.43 billion in 2019.