Recent studies have revealed that ice cream processing equipment will experience substantial demand in the coming years. This is as a result of the growing demand for ice cream globally, due to an increase in the per capital consumption of ice cream.
The ice cream processing equipment is projected to grow at a CAGR of almost 4% over the next 10 years. Asia-Pacific is predicted to experience the highest growth rate owing to increased demand and disposable income and rise in standard of living from the developing economies including India, China, Indonesia, and others.
Ice cream is dairy product sweetened either with natural sugar or artificial sweeteners. Confectionery process companies available in the market today offer multiple ice cream types including hard ice cream, soft ice cream, light ice cream, low-fat ice cream, and others.
Availability of freedom of choice for various flavored ice creams have been driving the growth of the ice cream industry. These result into more people paying a premium price for the products, which in turn bring about a significant increase in the revenue of the ice cream markets. The substantial growth and development of ice cream market globally is also brought about by product innovation in ice cream products.
According to the research findings, America and Europe & Central Asia will continue to be large regional markets in the global ice cream processing equipment markets, because of their increasing adoption of automatic ice cream processing equipment for increasing production capacity to meet the increasing demand for ice cream worldwide. The molding equipment is expected to lead the way in the ice cream processing machine industry and then follow by the extrusion equipment segment. Three key factors are shaping the ice cream processing equipment market. These factors are:
Launching of New Products and Distribution Agreements
These are the main trends in the ice cream processing equipment market. Major known market players in the ice cream processing equipment market are focusing on expanding their ice cream processing equipment product portfolio via distribution agreements and launching of new range of products.
Global Growing Consumption of Ice Cream
Increasing demand for ice cream globally has created plenty lucrative opportunities for the ice cream processing equipment market. Due to the increasing appetite for ice cream worldwide, the confectionery process companies must get more of processing equipment to increase their production capacity. Owing to this reason, the ice cream processing equipment market is also projected to see substantial growth to cater to the global increasing demand for ice cream. Tetra Pak, famous as the No. 1 market player in the ice cream processing equipment market, is focusing on plans to introduce a new range of ice cream processing equipment that will have capacity to produce a variety of colors and flavors of ice cream to pull the consumer base of confectionery and bakery goods.
Changing Consumer Lifestyles & Increasing Popularity of innovative Ice Cream
The consumers of nowadays are known to be bold, adventurous and curious and therefore would want to always go for the bold and innovative sensorial experiences. Consumers consider the freedom of choice for a variety of ice cream flavors at any given point in time as very important. Busy lifestyles of people in the developed and developing countries has been pinpointed to be one of the key elements driving the growth of the market. Due to their hectic lifestyle, nowadays, the general population has developed a propensity towards outdoor eating habits, influencing the demand for ice cream globally.