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Functional Ice Cream Market Leading Player Analysis with COVID-19 Update

Submitted by Rubecca726 on Thu, 11/24/2022 - 22:11

Market Overview
As per the market research that has been made, it is found that the market for functional ice cream is showing potential growth and is likely to reach the valuation of USD 319.8 million by the forecast timeline which is till 2028 at a CAGR of 8.56%.
The market for functional ice cream is showing the nascent stages of development and is likely to show good growth in the forecast timeline. The demand in the economies of developed countries is already high. However, emerging economies are gradually increasing during their forecast timeline. The experimental eating habits and also health-conscious bringing are likely to increase during the forecast timeline. the increase in the demand for functional products in the region seems to be supplementing the functional ice cream market growth, especially in the Asia Pacific region.
The covid 19 has created enormous pressure on hypermarkets and supermarkets and also retail stores with some other intermediate nodes associated with the supply chain. Due to the increased panic that has been noticed amongst the food and consumers, stockpiling processed and fresh food seems to have turned into a common phenomenon in the early pandemic lockdown stages across the world. the functional ice cream manufacturers are now more focused on online retail for meeting the demand of the consumer. But the biggest concern that still remained in the logistics was the lockdown. The quick growth of the covid 19 virus throughout the world has led to an increase in vehicular movement and trade restrictions.
As the economy across the world is still under quite a pressure because of the pandemic and is recovering at a slow pace, its impact on global trade and also the supply chain seems to have been low in the year 2021. The government of different countries have already imposed strict containment and there seem to be some preventive measures for controlling the outbreak impact which ideally resulted in the restricted transportation of the raw material across the globe. That is why a supply and demand gap is created. however, now there seems to be an easement of the lockdown in different countries and the trade is restarting in some capacity which is now showing a good effect on the overall market. While the market growth seems to be quite dampened because of the low spending power of the consumer during the covid 19 crisis, the effects are now subsiding during the short-term period.
Market Segmentation:
As per Flavor Type

  • Blends
  • Vanilla
  • Chocolate
  • Others

As per Claim

  • Sugar-free
  • Lactose-free
  • Multi-claim
  • Vegan
  • Others

As per Distribution Channel

  • Store-Based
  • Specialty Stores
  • Supermarkets/Hypermarkets
  • Others
  • Non-Store Based

As per Region

  • Middle East
  • North America
  • Europe
  • Australia and New Zealand
  • Asia-Pacific
  • South America
  • Africa

Regional Classification
As per the regional functional ice cream market analysis that has been made on the market of the it is noted North America seems to be holding a good share of the market.
Industry News:
Nightfood in April 2021 expanded its retail footprint with its products in 1,000 Walmart stores.
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