Emerging markets-fuelled growth drives impulse ice cream to become the largest subcategory, but demand for take-home varieties is also rising fast outside the developed world. A range of positive macroeconomic factors, such as infrastructural developments, contribute to the dynamic growth, but the high demand for indulgence and affordable luxury are key to growth globally. However, the highly consolidated market environment and product seasonality remain the main challenges for manufacturers.
Emerging markets-fuelled growth drives impulse ice cream to become the largest subcategory, but demand for take-home varieties is also rising rapidly outside the developed world.
The economic growth-driven rise in disposable income but still relative low level of domestic freezer ownership creates an advantageous environment for rapid growth of impulse ice cream.
Artisanal ice cream and frozen yoghurt expected to remain predominantly developed market products until the end of the forecast period, presenting low competition to impulse ice cream in developing markets
Consumers’ price-sensitivity continues to be high in core take-home ice cream markets but indulgence is still the key trend in the category.
Ice cream faces the challenge of uneven year-round growth. Seasonality is hitting harder the impulse ice cream categories and in the take-home categories manufacturers can deploy a variety of marketing techniques to promote all-year-round consumption.
Manufacturers are blurring the lines between ice cream and adjacent categories. Brands that cannot keep up with the high speed of innovation in ice cream are unlikely to succeed.
The Unilever-Nestlé duopoly makes global ice cream a consolidated market environment, raising high entry barriers for potential new players.
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