Global Frozen Novelty Market – Industry Trends and Forecast to 2029

Frozen Novelty Market Analysis and Size

Many market trends have shifted due to urbanization and a faster-paced lifestyle. We live in a fast-paced world where everyone wants to get more done in less time. Frozen novelty fit the criteria perfectly and completely changed how we consume nutrition-rich novelty.

Data Bridge Market Research analyses that the frozen novelty market was growing at a value of USD 5.02 billion in 2021 and is expected to reach a value of USD 9.64 billion and registering a CAGR of 8.50% from 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Frozen Novelty Market Scope and Segmentation

Market Definition

Frozen novelty are food products made of milk solids or even vegetable oils based on flavoured water in the form of shave ice, ice pops, sorbet, and snow cones. Due to the variety of flavours available in the frozen desserts market, they are primarily consumed as frozen cakes, frozen yogurts, and ice cream.

Global Frozen Novelty Market Dynamics

Drivers

• Rising urbanisation and growing trend of convenience food around the world

Frozen novelty takes less time and effort to prepare than cooking from scratch, the growing consumer preference for convenience novelty indirectly benefits the growing demand for frozen novelty. As a result, there is an increase in demand for frozen goods. Increasing disposable income is another factor that has a significant impact on frozen food market growth because it increases consumer purchasing power.

• Expansions of retail stores combined with growing working class population

Frozen convenience novelty sold by food supply chain companies continues to contribute significantly to revenue. Additional revenue share is expected soon as convenience stores expand their frozen ready meal selection and internet sales tap into previously untapped market opportunities.

Frozen novelty are becoming increasingly popular in developed countries, where consumption is higher than in developing countries. The increase in the number of people working in emerging economies such as China and India, as well as the trend toward longer and more variable working hours, has resulted in a progressive shift away from the traditional paradigm of daily cooking.

Opportunities

The development of new flavours, attractive packaging methods and the availability of lactose-free ice cream, will provide additional opportunities for the growth of the frozen novelty market during the forecast period.

Restraints

However, the growing preference for fresh and natural food products, as well as the increasing need for constant temperature monitoring, are expected to impede the frozen novelty market growth rate, while a lack of cold chain infrastructure in developing economies will pose a market challenge for frozen novelty during the forecast period.

This frozen novelty market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the frozen novelty market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Frozen Novelty Market

The COVID-19 outbreak has boosted demand for convenience items. During the pandemic, consumers were constantly buying ready-to-eat or ready-to-cook meals because they were readily available at low prices. Severe lockdown measures have been implemented by all restaurants, hotels, and shopping malls, which has impacted eating habits globally due to lockdown and public safety measures. This factor has also influenced many people to switch to home-cooked meals and packaged ready novelty that can be delivered to their homes via several supermarkets or hypermarkets and e-commerce grocery store home delivery options, as dining-out options were limited. Fear of spreading the virus in public places has led to the purchase of packaged and long-life novelty rather than fresh food.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2021, Nomad Novelty announced an agreement with Fortenova Grupa d. d. to acquire Fortenova's Frozen Food Business Group (FFBG) in cash for USD 724 million in order to expand its product portfolio, as FFBG offers a wide range of frozen meals and has a large distribution channel in Eastern Europe.
• In 2021, Conagra Brands Inc. launched its extensive summer line products to provide manufacturers inside single-serve frozen meals and collect brands with new Banquet, Marie Callender's, Wholesome Alternative, and Hungry Man dishes. Conagra's mission is to please customers by providing nutritious frozen novelty.
• In 2020, the Dutch start-up Lazy Vegan released its latest frozen ready meal, "Thai Green Curry," which is gluten-free and soy-free. It also launched vegan frozen meals with plant-based chicken and Novelty in order to establish a strong presence in the European market.

Global Frozen Novelty Market Scope

The frozen novelty market is segmented on the basis of product, application, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Ice Cream Bars
• Ice Pops
• Ice Cream Sandwiches
• Others

Application

• Residential
• Commercial  

Distribution channel

• Supermarkets
• Ice Cream Trucks
• Convenience Stores

Frozen Novelty Market Regional Analysis/Insights

The frozen novelty market is analysed and market size insights and trends are provided by country product, application, and distribution channel as referenced above.

The countries covered in the frozen novelty market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Europe dominates the frozen novelty market due to an increase in demand for frozen novelty. Furthermore, the region's population growth, rapid urbanization, and increased customer awareness of the benefits of frozen food will drive the growth of the frozen novelty market during the forecast period.

Asia-Pacific is expected to see significant growth in the frozen novelty market because of the rise in the trend of ready-to-eat food among the working-class population. Furthermore, the substantial increase in demand for frozen food due to the decrease in time for preparing and cooking is expected to further propel the market growth in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Frozen Novelty Market Share Analysis

The frozen novelty market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to frozen novelty market.

Some of the major players operating in the frozen novelty market are:

• The Hain Celestial Company (U.S.)
• AGRARFROST GMBH & CO. KG (Germany)
• Agristo (Belgium)
• Bart’s Potato Company bvba (Belgium)
• Royal Cosun (Netherlands)
• Farm Frites (Netherlands)
• Greenyard (Belgium)
• Himalaya Food International Ltd. (India)
• J.R. Simplot Company (U.S.)
• McCain Novelty Ltd. (U.K.)
• Lamb Weston Holdings, Inc. (U.K.)
• General Mills, Inc. (U.S.)
• Mondelez International, Inc. (U.S.)
• THE KRAFT HEINZ COMPANY (U.S.)  

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