by The Artisanal Ice Cream Market is estimated to be valued at US$ 11,642.2 million in 2018 and is projected to reach a significant value in 2023, as highlighted in a new report published by Coherent Market Insights. The market is expected to exhibit a CAGR of 7.4% over the forecast period of 2023-2030.
Market Overview:
Artisanal ice cream refers to the production of ice cream using traditional methods and high-quality ingredients. It offers a wide range of flavors and unique combinations, providing consumers with a delightful and personalized ice cream experience. The market is driven by increasing consumer demand for premium and gourmet ice cream products, along with growing awareness and preference for organic and natural ingredients. Furthermore, the rising popularity of artisanal ice cream parlors and the expansion of product portfolios by key players are also driving market growth.
Market Dynamics:
The artisanal ice cream market is primarily driven by two key factors. Firstly, the growing consumer inclination towards healthier and natural products fuels the demand for artisanal ice cream made with organic ingredients. Consumers are increasingly conscious about the quality and origin of the food they consume, and artisanal ice cream provides a delicious and guilt-free treat. Secondly, the rising number of artisanal ice cream parlors and cafes, along with the availability of a diverse range of flavors, attract consumers looking for a unique and premium ice cream experience. This trend is further supported by the expanding product portfolios of key players in the market. Overall, these factors create a positive environment for the growth of the artisanal ice cream market.
Market Key Trends:
The key trend in the artisanal ice cream market is the increasing demand for natural and premium ingredients. Consumers are becoming more conscious about the quality and ingredients used in the food they consume. Artisanal ice cream brands are capitalizing on this trend by offering products made with natural, high-quality ingredients. These brands are using real fruits, organic milk, and handmade techniques to create unique flavors and textures that appeal to health-conscious consumers. Moreover, the popularity of premium and gourmet food products is also driving the demand for artisanal ice cream, as it is perceived as a luxurious and indulgent treat.
SWOT Analysis:
- Strength: The artisanal ice cream market benefits from the growing preference for natural and premium food products. These products offer unique flavors and high-quality ingredients, providing a differentiated offering compared to mass-produced ice creams.
- Weakness: One weakness of the artisanal ice cream market is the higher price point compared to regular ice creams. The use of premium ingredients and handcrafted techniques increases the production cost, limiting the affordability for some consumers.
- Opportunity: There is an opportunity for artisanal ice cream brands to expand their distribution channels and reach a wider audience. Online platforms and collaborations with local cafes and restaurants can help increase accessibility and exposure.
- Threats: The artisanal ice cream market faces competition from established ice cream brands that are also introducing natural and premium product lines. Additionally, fluctuations in the prices of key ingredients, such as milk and fruits, can pose a threat to the profitability of the market.
Key Takeaways:
The Global Artisanal Ice Cream Market Growth is expected to witness high, exhibiting a CAGR of 7.4% over the forecast period. The increasing demand for natural and premium ingredients, driven by health-conscious consumers, is fueling this growth. Additionally, the market’s appeal as a luxurious and indulgent treat contributes to its expansion.
In terms of regional analysis, North America is the fastest-growing and dominating region in the artisanal ice cream market. The region’s strong consumer base for premium food products and the presence of established artisanal ice cream brands contribute to its growth.
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 offer a wide range of flavors and unique recipes, catering to the preferences of different consumer segments.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
