US ice cream market to slow down in coming years

The report presents detailed analysis on the Ice Cream consumption trends in the United States, historic and forecast Ice Cream consumption volumes and values at market and category level.

The US ice cream marketis experiencing slow growth in the past few years due to increase in prices of ice cream and frozen dessert items. Recent research has shown that inspite of this, 92% of US households still purchase these products.

This report, The Future of the Ice Cream Market in United States to 2018, provides a detailed analysis of the market and focuses on the growth trends, major players, recent developments and key drivers of the ice cream market in the US.

Market overview

The US ice cream market had total revenues of USD 11.1billion in 2012, representing a CAGR of 2.3% between 2008 and 2012.Market consumption volumes also increased with a CAGR of 1.5% between 2008 and 2012, to reach a total of 3.7 billion liters in 2012. The performance of the market is forecasted to decelerate and reach a value of USD 12.1bn by the end of 2017.

Market trends

The desire to consume products that helps people relax and better enjoy personal time are one of the key drivers in this industry. While buying ice cream, 94% of people base their decisions on flavor, while 83% look at price and 72% look for a sale or promotion. When it comes to brand loyalty, 68% of respondents make their selections based on brand alone. Ice cream companies in the US are also experimenting with new flavor profiles and ingredients and new packaging concepts, which will be instrumental in the ice cream market’s success in the next few years.

In terms of who is eating the most ice cream, the US tops the list, with 17 liters per head, outpacing Australia (10.3 liters per head), Norway (10.2 liters per head), Sweden (8 liters per head), Denmark (7 liters per head) and the UK (6 liters per head).

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SOURCE: Researchonunitedstates.com

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