Increasing demand for ice creams and growing inclination toward impulse ice cream desserts fuel the growth of the global ice cream ingredients market. Based on application, the impulse ice cream segment generated the highest share in 2020. By region, on the other hand, Asia-Pacific would remain lucrative by 2030.

Portland, OR, Oct. 19, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ice cream ingredients market was estimated at $50.1 billion in 2020 and is expected to hit $93.5 billion by 2028, registering a CAGR of 8.5% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Increasing demand for ice creams and growing inclination toward impulse ice cream desserts fuel the growth of the global ice cream ingredients market. On the other hand, rising prevalence of lactose intolerance and surge in diabetic population impede the growth to some extent. However, introduction of novel combinations & low-fat/sugar ingredients and rise in craze for organic food products are expected to create lucrative opportunities in the industry.

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COVID-19 scenario-

• The outbreak of the pandemic gave way to a sudden downfall of demand for ice creams and other frozen products, thereby impacting the global ice cream ingredients market negatively.

• However, as the manufacturers have already started responding quickly in terms of incorporating necessary actions and minimizing the effect of the global crisis, the market is projected to recover soon.

The global ice cream ingredients market is analyzed across type, application, and region.

Based on product, the dairy solids segment accounted for the major share in 2020, holding nearly two-fifths of the global market. The milk-solid-not-fat segment, however, would grow at the fastest CAGR of 10.5% throughout the forecast period.

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Based on application, the impulse ice cream segment generated the highest share in 2020, accounting for more than two-fifths global market. The artisanal ice cream segment, on the other hand, is projected to manifest the fastest CAGR of 9.5% from 2021 to 2030.

Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering around two-fifths of the global market. The same region is also expected to cite the fastest CAGR of 9.2% by the end of 2030. The other provinces studied in the report include North America, Europe, and LAMEA.

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The key market players analyzed in the global ice cream ingredients market report include BASF SE, Tate & Lyle, Cargill, Incorporated, Royal FrieslandCampina N.V., California Dairies, Inc., Dairy Farmers of America, Hilmar Ingredients, Fonterra Co-Operative Group Limited, Grassland Dairy Products Inc., and Westland Milk Products (yili Group).These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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