Additionally, new companies are venturing into this segment intending to cater to the increasing demand from consumers as well as food service providers. Manufacturers have been focusing on introducing new varieties in the ice cream category. Plant sterols, lecithin, and Propylene Glycol Monoester (PGME) have been broadly used to replace the synthetic ingredients in the development of ice cream products. According to an article published in Food Ingredients First in April 2021, manufacturers have been using functional ingredients to highlight the health benefit of frozen desserts. Manufacturers are increasing their product range by including functional ingredients, organic, herbal, and exotic flavors in product formulations to meet the changing consumer demand. Many consumers opted for frozen products through the online retailers and local general stores which accommodated high stock along with essential items such as groceries, pharmacies, and toiletries. However, some consumers were consuming ice creams as comfort food during lockdowns. With the fear of catching a cold, consumers worldwide tried to reduce their ice cream consumption. The COVID-19 pandemic had a significant impact on the global ice cream consumption pattern since ice cream is not considered a necessary commodity. The increasing health consciousness among consumers is also expected to fuel the demand for premium ice creams in the upcoming years. Factors such as the rising demand for innovative flavors, types, and the rising demand for impulse ice creams such as cones, sandwiches, and pops in developing countries are expected to drive the market growth. The global ice cream market size was valued at USD 79.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2022 to 2030.
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