Ice cream will be negatively impacted in 2020 due to the outbreak of COVID-19, which saw the product recording a dip in value sales, and a 2% decline in volume growth. The first lockdown coincided with spring, which heavily impacted sales, leading to a decline in demand as consumers could not enjoy ice-cream in the warmer weather.
Lidl has plans to expand its presence on the landscape over the forecast period. The opening of the stores is anticipated to strengthen private label’s value share of ice cream and frozen desserts, coming at a time when economising and price sensitivity is high, with consumers in need of a discount supermarket due to the financial hardship created by the pandemic.
Ice cream and frozen desserts is expected to see improved current value growth rates from 2021. Foodservice is also expected to recover during 2021 and will continue growing in the forecast period, as natural, low sugar options enter the landscape.
Positive growth for the ice cream market will benefit from the product having the opportunity for innovation and growth. As well as launches aligned to the growing health and wellness trend, such as low sugar, low calories, natural ingredients and low fat, dietary requirements will also be addressed, with players focusing on protein ice cream, vegan ice cream and gluten-free options.
Due to competition from major players, it is difficult for new players to enter ice cream and frozen desserts. However, innovation from smaller players in niches, especially those linked to the health and wellness trend, is developing.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Ice Cream and Frozen Desserts industry in Latvia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Ice Cream and Frozen Desserts industry in Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Ice Cream and Frozen Desserts research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page