Gourmet Ice Cream Market to Grow by USD 13.96 Billion (2024-2028) Driven by Gelato's Health Benefits and AI Driven Market Transformation - Technavio

NEW YORK, Sept. 18, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global gourmet ice cream market size is estimated to grow by USD 13.96 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 18.32%  during the forecast period. Increasing health benefits of gelato is driving market growth, with a trend towards growing culture of socializing in gelaterias and ice cream parlors. However, increasing challenges regarding distribution channels for gourmet ice cream  poses a challenge. Key market players include Amadora Gourmet Ice creams Pvt. Ltd., American Classic Specialities, Amorino, Braums Online L.L.C., Daves Gourmet Ice Cream, Froneri International Ltd., Gelato Italia Ltd., General Mills Inc., Herrells Ice Cream, iSwich Gourmet, Mammino Gourmet Ice Cream, Morellis Gelato, Nestle SA, Numoo, Papacream, Papitto Gelato, R and R Durian, Rons Gourmet Ice Cream, Unilever PLC, and Vadilal Industries Ltd..

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Market Driver

The gourmet ice cream market has experienced notable growth in the last decade, particularly in countries such as the US, Italy, the UK, Germany, France, China, and India. This expansion is due in part to the increasing number of gelaterias, which serve not only ice cream and gelato but also function as social venues. Major ice cream manufacturers, including Nestle with its Swiss premium brand Movenpick, have entered this market by opening parlors in various countries. Emerging chains like Gelatovinto and Gelato Italia Ltd. In India, as well as vendors such as Gelato Italia and Amorino in Europe, are thriving. The rising trend of socializing over premium ice creams and frozen desserts, along with the expansion of gelaterias in both developing and developed economies, bodes well for the global gourmet ice cream market's growth in the forecast period. 

The gourmet ice cream market is on the rise, with companies like iSwich Gnumoo, Papacream, Papitto Gelato, and Panaces leading the charge. Innovative flavors such as Higgers' chocolate and Vanilla are going viral, creating lucrative opportunities for confectioners. The market research reports indicate a culture of socializing around ice cream, with gelato, sorbet, and frozen custard gaining popularity. Diet-friendly options are also in demand, making this an exciting industry for businesses. Cost-effective commercial development and accurate market growth data are essential for success. Key industry influencers like Numoo and Doughs are setting trends, and online retailing is becoming increasingly important. Study the market closely to stay ahead of the competition. 

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• Gourmet ice cream manufacturers face significant challenges in the distribution channel, particularly through retail stores like supermarkets, discount stores, and convenience stores. These outlets operate on narrow profit margins, putting pressure on manufacturers to maintain competitive pricing. Retailers demand frequent, smaller deliveries to minimize warehousing costs, requiring innovative merchandising solutions. To avoid inventory gaps and maintain revenue, retailers prioritize order fulfillment rates, potentially seeking alternative manufacturers during promotions or peak demand. The rise of online shopping has necessitated new skills in category management for manufacturers, balancing price and volume to cater to the growing preference for convenience stores. These challenges hinder the expansion of the global gourmet ice cream market during the forecast period.
• The gourmet ice cream market faces several challenges in qualitative data collection due to the subjective nature of consumer preferences. Product pricing is a critical factor, with end consumers seeking premium offerings but expecting reasonable prices. Child markets and consumer buying behavior are influenced by economic, political, and social scenarios. Macroeconomic analysis and pricing analysis are essential for market evolution and growth drivers. Companies like Pabrai Fresh and Naturelle Ice Creams offer unique product service offerings, including Japanese green tea, sandalwood, and Kolkata meetha paan flavors. Regulations, positive and negative changes, and threats from competition impact the industry footprint. Strengths, weaknesses, threats, and winning imperatives are crucial for a strategic approach. Financial statements and research methodologies provide insights into economic and social factors, while industrial magazines, SEC filings, and research papers offer competitive positioning information. End-use industries, including supermarkets, hypermarkets, and Amorino, influence market trends. Companies must stay agile to adapt to changing consumer preferences and competitive landscapes.

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This gourmet ice cream market report extensively covers market segmentation by  

1. Product 
• 1.1 Gelato
• 1.2 Sorbet
• 1.3 Frozen custard
• 1.4 Others
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Gelato-  The gourmet ice cream market encompasses various segments, with gelato being a significant contributor. Manufactured using a base of cream, sugar, and milk, gelato incorporates flavorings, nut purees, and fruits. Compared to traditional ice creams, gelato has a lower fat content and higher sugar content. Originating in Italy, gelato's popularity expanded globally. The industry comprises artisanal and gourmet gelato, gelato flavorings in baked goods, frozen gelato desserts, and yogurt. Key drivers for the growth of the gelato-based gourmet ice cream segment include the increasing number of health-conscious consumers in North America and Europe, the demand for premium products, and the expanding availability of gourmet ice cream products online. Gelato offers several health benefits, such as vitamins, minerals, and antioxidants from fruits, nuts, and cocoa. These nutrients provide energy through simple sugars and aid digestion with digestive enzymes. As a result, the gelato segment is poised to fuel the expansion of the global gourmet ice cream market.

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The gourmet ice cream market is thriving with innovative flavors that cater to various tastes and dietary preferences. From gelato and sorbet to diet-friendly options, this market offers a rich and diverse experience. The culture of socializing around ice cream continues to grow, with online retailing becoming an essential part of the industry. A recent study reveals that key industry influencers, such as Amorino, Herrells Ice Cream, iSwich Gourmet, Numoo, and Papacream, are leading the charge in commercial development. Quantitative data shows steady growth, while qualitative data reveals consumer preferences for unique flavors and sustainable production methods. Industrial magazines, SEC filings, and research papers provide valuable insights into market trends and future developments. Supermarkets and hypermarkets remain significant distribution channels, ensuring that gourmet ice cream is readily available to consumers. Cost remains a crucial factor, but the market's focus on quality and innovation continues to drive growth.

The Gourmet Ice Cream market is experiencing significant growth, driven by the introduction of innovative flavors and diet-friendly options such as gelato and sorbet. Online retailing is also becoming increasingly popular, allowing consumers to enjoy their favorite gourmet treats from the comfort of their homes. A culture of socializing around ice cream continues to thrive, with key industry influencers and market research reports providing accurate market growth estimates and insights. Product pricing, consumer buying behavior, and economic, political, and social scenarios are all important factors influencing the end-use industry. Market evolution is being shaped by growth drivers, macroeconomic analysis, and pricing analysis, among other factors. End consumers and intermediaries are key players in the market, with estimations indicating lucrative opportunities for companies in this space. Product service offerings, financial statements, and strategic approaches are essential for companies looking to gain a competitive position. Strengths, weaknesses, threats, and winning imperatives are all important considerations for companies in this industry. Positive changes, such as increasing health consciousness and the rise of plant-based options, offer opportunities, while negative changes, such as regulations and competition, pose challenges. Flavors like Japanese green tea, sandalwood, and Kolkata meetha paan are gaining popularity, with companies like Pabrai Fresh, Naturelle Ice Creams, and others offering unique product offerings. Industrial magazines, research papers, and SEC filings provide valuable information on market trends and company performance. Offline retail applications, such as supermarkets and hypermarkets, continue to be important channels for sales, with companies like Amorino, Herrells Ice Cream, iSwich Gourmet, Numoo, Papacream, Papitto Gelato, Panaces, Rising Doughs, Confectioneers, Higgers, and others expanding their footprint. Vanilla and Chocolate remain popular flavors, but going levels indicate that consumers are looking for more unique and adventurous options. Gelato and Sorbet continue to gain popularity due to their diet-friendly nature. Frozen custard is also making a comeback, offering a rich and creamy alternative to traditional ice cream. Overall, the Gourmet Ice Cream market is an exciting and dynamic space, offering both challenges and opportunities for companies looking to innovate and grow.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Gelato
• Sorbet
• Frozen Custard
• Others
• Distribution Channel
• Offline
• Online
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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