Global Ice-cream Coating - Market Outlook
Ice cream coating is prepared from hydrogenated palm kernel fat or coconut oil. Coconut oil and palm oil provides a decent snap of coating and pleasant cool melting. The increased consumption of bakery products, ice-creams, and confectionery items by the consumers had propelled the demand for demand for ice cream coating in the market which in turn drives the global ice cream coating market. To meet the growing demand for ice cream and ice cream coatings, manufacturers in the ice cream coating market are increasingly innovating their product to increase consumer base. Rapid urbanization is increasing the demand for food products and also changing the eating trends of the consumers which are expected to propel the global ice cream coating market.
Decorative food trend adopted by consumers is driving the Global Ice-cream Coating Market
The rapidly growing hotels, restaurants, and café culture in most of the regions of the world are propelling the demand for ice cream coating. The ice cream coating market is expected to witness growth owing to the rising demand decorative products. The bakers are increasingly using a coating on the products to maintain the shape and quality for a longer time which is growing the demand for ice-cream coating. The change in the trend of food products and adaptation of food decorative culture is driving the coating market. The increased per capita income has increased the demand for food and beverages which in turn fueling the ice-cream coating market. The growing demand for a different flavor of ice cream is creating more demand for the ice cream coating. The ice cream coating is also used as a dip in form of snack which is increasing the demand for the product in the market. The health-conscious consumers are preferring low carb products, thus the manufacturers are now introducing low carb ice cream coating.
Global Ice-cream Coating Market – Segmentation
Based on flavor, the global ice-cream coating market is segmented as
Based on end-use the global ice-cream coating market is segmented as
Based on the region the global ice cream coating market is segmented as
Global Ice-cream Coating Market key players
Some of the major key players of the ice-cream coating market are Walter Rau Neusser, Blommer Chocolate Company, Barry Callebaut, Göteborgsfood Budapest Ltd., Clasen Quality Chocolate, The J.M. Smucker Company, and others.
Global Ice-cream Coating Market – an opportunity
North America shows the largest market share because of the high consumption of ice cream coating. Owing to a huge consumer base and increased consumption of ice cream products in developing economies the market is expected to witness growth. The manufacturer is offering innovative fat solutions to meet the demand for a lower saturated fat product without compromising the taste. The increasing urban population and changing lifestyle is also changing the food trend of the consumers which gives opportunity to the new participants to offer new products.
Impact of COVID- 19 on Global Ice-cream Coating Market
The COVID-19 outbreak had economically damaged all the markets around the world. The demand and supply chain disruption is giving rise to the price hike of the products. Due to the closed restaurants, cafes, and hotels, the demand for ice cream coating has reduced. Closed bakery and confectioneries are rising major challenge to the manufacturers since most products are supplied to bakery and confectioneries. The manufacturers are facing challenges in supplying the raw materials for production since the borders are sealed due to this pandemic. The demand for ice cream coating had reduced in many regions of the world since the production facilities are closed. The foodservice sector is facing downfall but, at-home consumption of foods has increased the demand for packed foods and ingredients. The manufacturing facilities of the global leader in the corona affected area are closed which is affecting the sales of the companies. The ice cream coating market has the largest share in North America which highly affected by this pandemic which is affecting the overall market of the product. The global, as well as domestic manufacturers, are focusing on strengthening their online presence as the consumer’s buying pattern has changed to online. Most of the food companies around the world are operating and are also keeping proper measures to ensure the safety of their labors.