by The Artisanal Ice Cream Market is estimated to be valued at US$11,642.2 million in 2018 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Artisanal Ice Cream Market offers a wide range of flavors, textures, and premium quality products. The market caters to the growing consumer demand for organic and natural ice creams, as people are becoming more health-conscious. Artisanal ice cream is made with high-quality ingredients, and it provides a unique taste and experience to consumers. The market represents a significant business opportunity for manufacturers to innovate and create new flavors and variations to cater to the diverse consumer preferences. Additionally, the increasing disposable income of consumers is driving the demand for premium and indulgent food products, including artisanal ice cream.
Market Dynamics:
The rapid growth of the artisanal ice cream market can be attributed to two key drivers. Firstly, the growing consumer preference for organic and natural products is fueling the demand for artisanal ice cream, as it is made with high-quality ingredients and lacks artificial additives. Consumers are increasingly seeking healthier and more sustainable alternatives to conventional ice cream. Secondly, the increasing disposable income of consumers is playing a crucial role in driving the market growth. As consumers have more discretionary income, they are willing to spend on premium and indulgent food products such as artisanal ice cream. This trend is further supported by the growing popularity of experiential dining and the desire for unique and high-quality food experiences.
Segment Analysis:
The artisanal ice cream market can be segmented based on flavors, distribution channels, and region. In terms of flavors, the dominating segment is the fruit-based flavor. Fruit-based flavors are popular among consumers due to their natural and refreshing taste. They also offer a healthier alternative to traditional ice creams. Additionally, the use of fresh fruits in artisanal ice creams adds to their premium appeal. Other segments in the flavor category include chocolate, vanilla, and nut-based flavors.
In terms of distribution channels, the dominating segment is the retail sector. This includes supermarkets, convenience stores, and independent retailers. The retail sector provides easy accessibility for consumers and offers a wide variety of artisanal ice cream brands in one place. Moreover, supermarkets often have dedicated freezer sections for premium ice creams, attracting more customers. Other distribution channels include restaurants, cafes, and online platforms, which are growing in popularity but still have a smaller market share.
PEST Analysis:
- Political: There are no significant political factors that directly impact the artisanal ice cream market. However, regulations related to food safety and labeling requirements may affect the operations of artisanal ice cream manufacturers.
- Economic: Consumers’ disposable income and spending patterns influence the demand for artisanal ice cream. The market is expected to witness growth as the economy improves and consumers have more discretionary income to spend on premium products.
- Social: Changing consumer preferences for healthier and natural products have driven the demand for artisanal ice cream. Additionally, rising awareness about sustainability and ethical sourcing practices play a role in consumer choices.
- Technological: Advancements in freezing technologies and packaging techniques have facilitated the production and distribution of artisanal ice cream. These technologies help in maintaining the quality and texture of the ice cream during transportation and storage.
Key Takeaways:
The Global Artisanal Ice Cream Market Size is expected to witness high growth, exhibiting a compound annual growth rate (CAGR) of 7.4% over the forecast period. The increasing consumer demand for premium and natural ice cream products is a significant driver for this growth. Artisanal ice cream offers unique flavors and a higher quality experience compared to regular ice creams.
Regionally, North America is the fastest-growing and dominating region in the artisanal ice cream market. The region has a high demand for premium food products, and consumers are willing to pay a premium for artisanal ice cream. Additionally, the presence of key players such as Unilever and Nestlé S.A. in North America further contributes to the market’s growth in this 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 key players have a strong market presence and offer a wide range of artisanal ice cream flavors to cater to diverse consumer preferences.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
