Ice Cream Processing Equipment Market - Key Research Findings
- Global ice cream processing equipment market size in 2018 Nearly US$ 1,900 Mn
- The ice cream processing equipment market is expected to grow at a CAGR of nearly 4% over 2019-2029.
- America and Europe & Central Asia are expected to remain large regional markets in the global ice cream processing equipment market.
- The Americas and Europe & Central Asia are the leading regions in the ice cream processing equipment market, owing to the increasing adoption of automatic ice cream processing equipment for increasing production capacity to cater to the increasing demand for ice cream, globally.
- Strategic expansion in high potential regions is expected to exploit ice cream processing equipment market growth prospects.
- Major players in the ice cream processing equipment market are Tetra Pak Processing Equipment Gmbh, Gram Equipment A/S, CARPIGIANI GROUP, GEA Group Aktiengesellschaft, etc. The ice cream processing equipment markets in APAC and MEA, such as India, China, the UAE, and Saudi Arabia, are expected to benefit significantly from the growing demand for ice cream.
- Shifting of production facilities to local markets is a more economical and convenient choice for manufacturers, who are expected to prefer locally-sourced fresh supplies for their economical pricing. This move is also preferable from the sustainable supply point of view.
- Also, expanding per capita income, changing food culture, and increasing consumer spending outside have compelled manufacturers to enhance their existing facilities and also establish new ones in emerging economies to capitalize on the rising demand from the market, and benefit from lower capital and labour costs in these regions.
- Furthermore, ice cream processing equipment players could leverage their capabilities to expand into such markets, either through collaborations with local players or by establishing production sites in these regions.
- The automatic ice cream processing equipment segment is expected to remain the most preferred product type segment in the ice cream processing equipment market.
- The growth of this segment can be primarily attributed to the global growth of the per capita consumption of ice cream.
- Increasing competition has compelled manufacturers to decrease their operational costs to increase their profit margins and to offer products at competitive pricing, which is expected to propel the growth of the ice cream processing equipment market.
Top 3 Factors Shaping the Ice Cream Processing Equipment Market
Launch of New Products and Distribution Agreements are the Major Trends in the Ice Cream Processing Equipment Market
Key market players such as Tetra Pak Processing Equipment GmbH, CATTA 27 S.r.l., and GEA Group Aktiengesellschaft are focusing on the expansion of their ice cream processing equipment product portfolio through distribution agreements and the launch of new products. For example-
- In 2013, Catta 27 increased its customer base by supplying to Russia, Turkey, India, and some countries in the Latin American region.
- In 2005, Technogel S.p.a opened a new branch in Brazil. This new branch helped the company better reach its customers.
- In 2015, Goma Engineering Pvt. Ltd. launched a new automatic cup filling and sealing machine for ice cream and yoghurt.
Increasing Consumption of Ice Cream to Create Lucrative Opportunities for the Ice Cream Processing Equipment Market
The ice cream processing equipment market is likely to grow substantially, owing to the increasing appetite for ice cream around the world. The ongoing trend of innovation in taste and appearance of ice cream is likely to impact the ice cream processing equipment market, as nowadays, consumers demand more delight in their purchases.
To cater to the increasing demand for ice cream and its processing equipment, manufacturers are expanding their product offerings to capture a wider consumer base. For instance, a leading market player in the ice cream processing equipment market, Tetra Pak, has planned to introduce a new range of ice cream processing equipment to produce a variety of colours and flavours of conventional and organic ice cream to attract the consumer base of confectionery and bakery goods.
Changing Consumer Lifestyles & Increasing Popularity of Innovative Ice Cream
Increasing urbanization, rise in disposable income, and changing lifestyles of consumers, especially in emerging economies, have resulted in more people inclining towards off-the-shelf consumption habits. The consumers of today are bold, adventurous, and curious. Consumers want sensorial experiences that are bold and innovative. The freedom of choice for multiple flavours of ice cream at any given time is an attractive point of consideration for consumers.
Also, busy lifestyles in developed as well as many developing countries is one of the major factors driving the growth of the market. Due to hectic lifestyles, nowadays, the general population is inclining towards outside eating habits, influencing the demand for ice cream across the globe.
Ice Cream Processing Equipment Market: Structure Analysis
- The global ice cream processing equipment market is a fragmented market, with a number of big market players and regional players.
- Most of the key players maintain a strategic focus on the development of distribution partnerships and agreements for global expansion.
- Some of the top manufacturers that contribute a high revenue share in the ice cream processing equipment market are GEA Group Aktiengesellschaft, Tetra Pak Processing Equipment GmbH, Gram Equipment A/S, and CARPIGIANI GROUP.
Market Research Methodology - Perfected through Years of Diligence
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Significant Improvements in Conventional Processing and Packaging Equipment
Some of the common processes related to ice cream processing equipment include filling, capping, sealing, labelling, warping, and packing. Among these, the most tedious and labor-intensive tasks are packaging and labelling by hand. The shape of a product and the nature of a label can make this task even more intimidating.
Market Set to Grow 1.4X between 2019 and 2029
The ice cream processing equipment market is likely to witness steady growth over the course of the forecast period. The growth of the ice cream processing equipment market is mainly driven by the increasing pre-capita consumption of ice cream, and the transition of various manufacturers from manual or semi-automatic machinery to the automatic manufacturing of ice cream.
Emerging Countries Promise New Opportunities of Growth
The Americas is expected to contribute a high revenue share in the global ice cream processing equipment market in 2019. However, healthy growth is expected in developing countries, especially China and India, owing to increasing per capita income that is changing the easing habits of the general population. Among the emerging countries, China is likely to present sustained opportunities of growth for stakeholders in the ice cream processing equipment market. Due to China’s strong growth, East Asia is likely to emerge as a lucrative market during the forecast period.
The Broader Perspective
Stakeholders in the ice cream processing equipment market are adapting to the evolving requirements of the growing ice cream industry. Manufacturers are focusing on offering effective products by making use of automation. It is highly likely that R&D investments will continue to grow during the assessment period.
How Growth will Unfold
The continuous freezers segment in the ice cream processing equipment market is expected to maintain its lead over other variants during the assessment period, whereas, the extrusion segment in the ice cream processing equipment market is also expected to gain adoption at a steady pace.
ICE CREAM PROCESSING EQUIPMENT MARKET TAXONOMY
The global Ice Cream Processing Equipment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.
By Equipment Type
- Mixing Equipment
- Continuous Freezers
- Filling Freezers
- Extrusion Equipment
- Molding Equipment
By Product Type
- Soft Ice Cream Processing Equipment
- Hard Ice Cream Processing Equipment
- Greater China
- Europe & Central Asia
- South East Asia & Oceania