Global ice cream Coating Market demand is anticipated to be valued at USD 3,486.1 million in 2023, forecast to grow at a CAGR of 3.3%to be valued at USD 4,819.0 million from 2023 to 2033. Growth is attributed to the increasing demand for ice cream products globally. From 2018 to 2022 a CAGR of 2.3% was registered for the ice cream coating market.
| Report Attribute | Details |
|---|---|
| Projected Growth Rate (2023 to 2033) | 3.3% CAGR |
| Expected Market Value (2023) | USD 3,486.1 million |
| Anticipated Forecast Value (2033) | USD 4,819.0 million |
Ice cream coating is usually a very high-fat product that will change its viscosity and behavior during production. Ice cream coatings are thin layers that are manufactured from comparatively inexpensive fats like coconut oil or hydrogenated palm kernel fat. Coconut oil and palm kernel oil provide a decent snap of coating and pleasant cool melting. The total fat content present in ice cream coating is often above 60% than their counterparts (28 to 35%) to achieve a sufficiently thin layer and a short crystallization time.
The excellent-tasting coating increases the quality and production and decreases the price problems. Ice Cream coating is heated up to 30 to 35 degrees Celsius. The deep-frozen ice cream stick is dipped into the warm ice cream coating. The coatings solidify quickly on the ice cream stick, so the coating is sufficiently solid at the time of packaging. The ice cream coatings are supplied via buckets, containers, or liquid food tankers.
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The increasing demand for ice cream coatings in the ice cream parlors, dairy, and HoReCa (hotels, Restaurants, and cafes) is driving the growth of the ice cream coating market during the forecast period. The increasing awareness among bakers and parlors regarding the utilization of coating with ice creams to improvise the shape, quality, and taste of ice creams is expected to drive the market over the forecast period.
Also, the growing demand for ice cream products in the food and beverages industry due to increasing per capita income and rising consumer preference is expected to drive the global ice cream coating market.
The ice cream coating helps to improve the taste and quality of ice cream products which will increase the growth of the market during the forecast period. Rapid urbanization is increasing the demand for food products and also changing the eating trends of consumers which are expected to propel the global ice cream coating market.
No market is devoid of challenges and the global ice cream coatings market is no exception. Rising health concerns among the consumers and growing popularity of low-calorie products may hamper the growth of the ice cream coating market. The high storage cost, the short lifespan of ice creams, and seasonal demand for the product may also impede the growth of the market.
North America was the largest market for the ice cream coating market and the trend is expected to continue into the forecast period owing to the high consumption of ice creams in the region. Due to the changing lifestyle and urbanization, ice cream consumption is increasing which is driving the ice cream coating market. North America accounts for a total 29.3% share of the global ice cream coating market.
To address the increasing demand for ice cream and ice cream coatings, manufacturers in the ice cream coating market are expanding their product offerings to capture a broader consumer base in North America. For instance -According to IDFA in 2012, ice cream makers in the US churned out more than 1.3 billion gallons of ice cream.
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the ice cream coating market, due to the myriad of flavors and forms of ice cream coatings available in the region. Europe’s ice cream coating market accounts for a 27.1% share of the total global ice cream coating market.
In addition, the manufacturers in the ice cream coating market are introducing new healthier alternatives in the ice cream coating market which also boosts the demand in Europe. For instance -Barry Callebaut has planned to introduce a new range of ice cream coating with a variety of colors and flavors to attract the consumer base of bakery goods and confectionery.
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The Asia Pacific will continue to account for a leading share of the global ice cream coating market due to rising consumer preferences. China’s market will grow at the fastest rate over the forecast period due to the increasing population, expanding consumer preference, and increased demand for ice creams with coatings.
The increasing per capita income, and rapidly changing food habits is offering a better market scenario to the manufacturers in the global ice cream coating market. With the high presence of manufacturers and suppliers in the region, the market growth of ice cream coating in the Asia Pacific is anticipated to rise rapidly.
Montrose, Hooren Food Products, Kiddor Foods, Choco Nutri, and khushboo cool products private limited, are some of the start-up companies operating in the ice cream coating market.
Some of the key participants present in the global ice cream coatings market include Chr. Hansen Holding A/S, FONA International, Smucker Company, Walter Rau Neusser Ol und Fett AG, Blommer Chocolate Company, Palsgaard, Göteborgsfood Budapest Ltd., and Barry Callebaut among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Chr. Hansen Holding A/S, FONA International, and Smucker account for a considerable market size, and several regional-level players are also operating across key growth regions, particularly in Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.3% from 2023 to 2033 |
| Expected Market Value (2023) | USD 3,486.1 million |
| Anticipated Forecast Value (2033) | USD 4,819.0 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Types, Application, End-User, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific; Japan; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Mexico, Brazil, Germany, Italy, United Kingdom, Spain, France, Russia, Poland, China, India, ASIAN, Australia &New Zealand, Japan, GCC Countries, South Africa, Northern Africa |
| Key Companies Profiled | Chr. Hansen Holding A/S; FONA International; Smucker Company; Walter Rau Neusser Ol und Fett AG; Blommer Chocolate Company; Palsgaard; Göteborgsfood Budapest Ltd.; Barry Callebaut |
| Customization | Available Upon Request |
The market is valued at USD 3,486.1 million in 2023.
Puratos, Callebaut, and Ghirardelli are key market players.
The food service industry is the primary consumer of the ice cream coating market.
The market is estimated to reach USD 4,819.0 million by 2033.
The market is forecast to register a CAGR of 3.3% through 2033.
| Market Value for 2024 | USD 1,38,300 million |
|---|---|
| Projected Market Value for 2034 | USD 2,83,900.20 million |
| Value-based CAGR of the Market for 2024 to 2034 | 7.50% |
| CAGR | 4.0% |
|---|---|
| Market Size - 2023 | USD 853.74 million |
| Market Size - 2033 | USD 1263.74 million |
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