[175+ Pages Report] The global artisanal ice cream market is set for rapid growth over the forecast period. In terms of revenue, the global artisanal ice cream market accounted for USD 6.12 Billion in 2019 and is anticipated to reach around USD 9.92 Billion by 2026, growing at a CAGR of 7.1%.
Global Artisanal Ice Cream Market: Overview
Artisanal ice cream is made using natural ingredients that are free from artificial additives, preservatives, stabilizers, and emulsifiers. Artisanal ice creams are usually made in small batches and have a shelf life of around eight weeks which is twenty-four months in the case of industrial ice creams. Artisanal ice creams have a number of characteristics that testify to their natural origins. This is because the natural ingredients combined with the dairy products used in its preparation can reduce the strength of the flavors. Furthermore, the taste would be more natural and similar to that of the ingredients used in the recipe.
Global Artisanal Ice Cream Market: Growth Factors
Artisanal Ice creams are predicted to flourish as comfort food as a result of young people's inclination for snacking at various intervals. Young millennials are having an inclination towards trying new tastes, and the study showed that they often consume snacks at different intervals. Millennials represented the largest group of a particular generation in 2019 with a population of around 72.1 million. It represents around 22 percent of the population of the U.S. According to data published, there are around 7.3 million millennials are living in Canada. This represents around 20 percent of the population of Canada. A significant millennial contribution towards the population is estimated to fuel the growth of the artisanal ice cream market.
As the data published by the National Diabetes Statistics Report, by the U.S. department around in 2018, 34.2 percent of U.S populations which is around 10.5% of the overall U.S. population are suffering from diabetes. The study shows that 1 out of 10 people living in the U.S are suffering from diabetes, which is estimated to surge demand for sugar-free artisanal ice cream in the forthcoming years.
Global Artisanal Ice Cream Market: COVID-19 Impact
Since the majority of the artisanal ice cream industry's manufacturing staff is employed in on-site positions that cannot be handled remotely, it can be particularly fragile. If COVID-19 infections disperse across the workforce, plant capability can be harmed unless appropriate preventative steps are taken. Furthermore, considering the complexities of the market, businesses may need to explore ways to establish social distancing in workplaces where workers are frequently crowded. The artisanal ice cream industry as a whole was affected by market volatility, supply chain disruptions, unpredictable demand, and labor shortages. COVID-19 pandemic deeply disrupted snacking occasions. Amid the COVID-19 crisis, some manufacturers of artisanal ice cream responded to the ‘always at home’ situation by creating flavors and textures that suit different times of the day or based on different occasions. This is done by artisanal ice cream companies to offer customers ‘moments of relaxation and ‘comforting elements’ while people are inside the houses due to lockdown. Due to the lockdown measures, impulse shopping, and immediate consumption by consumers reduced extremely.
Various artisanal ice cream manufacturers updated their COVID-19 guidelines while keeping social distancing and wearing masks mandatory in-shop visits. Online payments in shops are preferred and product samples are not offered by several ice cream makers following COVID-19 norms. Some of the artisanal ice cream companies that were impacted severely in lockdown conditions are starting to adapt to the new normal. For instance, in March 2020, Salt & Straw closed its 17 stores across seven U.S. cities and laid off 95 percent of its staff over a week. However, in May 2020, Salt & Straw reopened its shops up and down the West Coast for no-contact pickup and delivery reestablishing its operations.
Global Artisanal Ice Cream Market: Segmentation
The global artisanal ice cream market is bifurcated into its type, category, flavor category, fruit, Asian flavor, Non-Asian flavor, industry vertical, distribution channel, retail, and regions. Based on the type, the global market is divided into lactose-free, conventional, organic, sugar-free, and others. Based on category, the market is bifurcated into fruit and flavor. Based on the flavor category, the global market is divided into Asian flavors and Non-Asian flavors. Based on the fruit, the global market is divided into mango, strawberry, coconut, lychee, guava, jackfruit, pineapple, papaya, dragonfruit, pears, banana, durian, and others. Based on Asian flavor, the market is bifurcated into green tea, saffron, vanilla, chocolate, black sesame, red bean, miso, queso, birthday cake, matcha, wasabi, and others. Based on Non-Asian flavor, the market is bifurcated into butter pecan, oreo, coffee, avocado, cookies n créme, mint chocolate chip, cookie dough, pistachio, rocky road, moose tracks, neapolitan, and others. Based on the industry vertical, the market is bifurcated into food & beverage, health & nutrition, and others. Based on the distribution channel, the market is bifurcated into retail, wholesale, online, and others. Based on retail, the market is bifurcated into supermarkets & hypermarkets, and specialty stores. Geographically, the global artisanal ice cream market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
Global Artisanal Ice Cream Market: Regional Analysis
North America region dominated the global artisanal ice cream market in 2019 with a market share of over 40% and is anticipated to continue its dominance in the upcoming years. The rise in Asian migrants in U.S. and Canada is estimated to surge demand for Asian favored artisanal ice cream market in North America. For Asians, the United States and Canada are becoming promising destinations for education and living. Asians are migrating to the United States and Canada seeking a higher standard of living and a better quality of life. Asians have replaced Latinos as the largest group of immigrants to the United States, according to Pew Center statistics. According to the survey, compared to 13% of Hispanics, half of the Asian immigrants have a bachelor's degree or higher. It demonstrates that the country's young demographic is interested in living there. After European Canadians, Asian Canadians make up the largest and fastest-growing community in Canada, accounting for roughly 17.7% of the population. The bulk of Asian Canadians live in Southern Ontario, Southwestern British Columbia, Central Alberta, and other major Canadian cities. Therefore, launching Asian flavored artisanal ice cream is estimated to create significant demand in cities of the U.S., and Canada.
Global Artisanal Ice Cream Market: Competitive Players
Some of the key players in the artisanal ice cream market are Bi-Rite Creamery, Gracie's Ice Cream, Van Leeuwen, High Road Craft Brands, ROGUEICECREAM, The Saffron Ice Cream Company, Gelato & Latte Este, Artinci Artisanal, Lackey's Artisan Ice Cream, Jeni's Splendid Ice Creams LLC., SUCRES DES TERRES, Amorino, Nestlé S.A., Carmela Ice Cream Co., Unilever, Boho Gelato, True & 12 Handmade Ice Cream, McConnell's Fine Ice Creams, Fiasco Gelato Cafes Ltd., Nye’s Cream Sandwiches, Grupo Alacant, General Mills, Toscanini’s, and Graeter’s Inc. among others.
Global Artisanal Ice Cream Market: Regional Segment Analysis
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