Key regions: South Korea, Spain, United Kingdom, India, Russia
The Ice Cream Market in the Confectionery & Snacks Market of India is facing negligible growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and competition from healthier snack options. Despite this, the market is still driven by the convenience and indulgence offered by ice cream products.
Customer preferences: As consumers become more health-conscious, there is a growing demand for plant-based and dairy-free options in the ice cream market. This trend is driven by a rising preference for vegan and lactose-free diets, as well as a growing concern for animal welfare. In addition, the demand for unique and exotic flavors, such as matcha and taro, is on the rise, catering to the diverse tastes of the Indian market. This shift in consumer preferences is also influenced by the increasing popularity of social media, where food trends and visually appealing desserts are widely shared.
Trends in the market: In India, the Ice Cream market is experiencing a shift towards healthier options, with an increasing demand for sugar-free and dairy-free alternatives. This trend is in line with the overall growth of the health and wellness market in the country. Additionally, there is a rise in the popularity of artisanal and premium ice cream brands, catering to the growing demand for indulgent and unique flavors. These trends are significant as they reflect the changing consumer preferences and present opportunities for market players to differentiate and innovate. However, it also poses challenges for traditional ice cream brands to adapt and stay relevant. Moreover, the increasing popularity of online food delivery services has opened up new avenues for the ice cream market, with players leveraging technology to reach a wider audience and increase convenience for consumers.
Local special circumstances: In India, the Ice Cream market is heavily influenced by the country's diverse cultural preferences and climate, leading to a wide variety of flavors and forms of ice cream. Additionally, regulatory policies around food safety and labeling play a significant role in shaping the market. Meanwhile, in the United States, the market is largely driven by indulgence and convenience, with a focus on premium and artisanal ice cream options. These factors contribute to the unique dynamics of the Ice Cream market within the Confectionery market, making it a highly competitive and constantly evolving segment.
Underlying macroeconomic factors: The Ice Cream Market in the Confectionery Market of the Confectionery & Snacks Market within The Food market is heavily impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. For instance, in India, a growing economy with a large young population and increasing disposable income has led to a rise in demand for confectionery products, including ice cream. Additionally, favorable government policies aimed at promoting food and beverage industries have also contributed to the growth of the market. On a global level, the increasing trend of indulgence and demand for convenience foods has led to a steady growth in the ice cream market. Moreover, the rising health consciousness among consumers has also resulted in the development of healthier and innovative ice cream options, further boosting the market growth.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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