At 3.7% CAGR, the Europe Ice Cream Market is projected to be worth US$ 33,811.08 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe ice cream market was valued at US$ 27,230.79 million in 2022 and is expected to reach US$ 33,811.08 million by 2028, registering an annual growth rate of 3.7% from 2022 to 2028. Innovative flavors and loaded indulgence and high demand for frozen desserts are the critical factors attributed to the market expansion.
Ice cream manufacturers are developing products with nutritional components, organic herbal fillings, and exotic flavors in product formulation to acquire a competitive advantage and appeal to more consumers. Manufacturers are introducing new exotic flavors such as coconut, lemon, and tropical fruits to adapt to shifting consumers' tastes. Additionally, consumers concerned about their health favor Skinny Cow, a low-calorie and low-fat ice cream brand. As a result, their consumer base is increasing. Additionally, the favorable regulations support the market innovations that were examined. Ice cream manufacturers are investing significantly in product innovation to expand their customer base and meet emerging consumer trends. Many brands and companies are launching innovative limited edition and seasonal flavors for frozen desserts in collaboration with other small players, which is gaining traction among consumers. Therefore, catering premium products with innovative flavors and loaded indulgences to consumers are driving the growth of ice cream market.
On the contrary, health problems associated with ice cream hurdles the growth of Europe ice cream market.
Key players dominating the Europe ice cream hmarket are General Mills Inc.; Inspire Brands, Inc.; Lotte Confectionery Co., Ltd.; Mars, Incorporated; Nestlé S.A.; and Unilever among others.
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