The global artisanal ice creams market size is projected to steadily expand in the forthcoming years on account of the growing visibility of gourmet ice cream brands around the world, shares Fortune Business Insights™ in its report, titled “Artisanal Ice Creams Market Size, Share & Industry Analysis, By Flavour (Chocolate, Fruits, Others (Herbal, Caramel)), By Distribution Channel (Mass Merchandisers, Speciality Stores, Convenience Stores, e-Commerce) Others and Regional Forecast, 2024-2032”.
Artisanal ice cream brands are gaining traction across the globe owing to the inventive flavors and textures they offer. For example, Jeni’s, an Ohio-based ice cream chain, is known for its unique range of flavors and recipes, with its buttercream texture being a hit among consumers. Moreover, the Virtual Crowd Pleaser Collection boasts a suite of imaginative flavors, such as Gooey Butter Cake and Skillet Cinnamon Roll, which has surged the popularity of the brand. Similarly, in India, the New Delhi-based artisanal ice cream maker, Chubby Cheeks Creamery, has gained fame for featuring a limited yet unusual lineup of ice creams made from cream, eggs, and milk only. The flavors offered by the company range from salted caramel to fig & honey. The blending of dissimilar flavors and tastes by these ice cream companies is allowing them to cater to the changing consumer demands with regard to snacking and eating desserts. The progress of these brands, in turn, is fueling the growth of this market.
Information Source: https://www.fortunebusinessinsights.com/artisanal-ice-creams-market-102293
List of Key Players Profiled in the Artisanal Ice Creams Market Report:
What Does the Report Offer?
The report contains an unrivaled, industry-leading analysis of the prime factors driving and restraining the market. In addition, the report carefully divides the market into relevant segments and studies each segment in a piecemeal manner. Furthermore, the actionable research constituting the report provides detailed insights into the regional developments of the market, and lastly, the report offers a comprehensive diagnosis of the competitive landscape of the market.
Restraining Factor
Economic Fallout of the COVID-19 Pandemic to Impede Market Growth
Artisanal ice creams are expensive and are thus unaffordable to a large chunk of consumers. This disadvantage of these delicacies has been exacerbated by the outbreak of the COVID-19 pandemic, which has led to a severe, unprecedented downturn in the global economy. In June 2020, for example, the World Bank predicted that if the pandemic continues unabated, the global economy could shrink by 8% in 2020. The fallout emanating from this pandemic has had cascading effects on national economies and personal incomes as well. India, for instance, reported a shocking -23.9% contraction of its economy in the second quarter of 2020, owing to the nationwide lockdown and strict trade and travel bans, both domestic and international. Back in June 2020, the State Bank of India, India’s top lender, forecasted in a report that the coronavirus crisis could decline per capita income in the country by 5.4%. In a study conducted by the UK-based non-profit organization, CABI, it was found that Kenya and Uganda were undergoing severe food insecurity due to COVID-19. In such dire circumstances, the demand for niche, gourmet foods, such as artisanal ice creams, is likely to remain diminished, thus affecting market growth.