The Global Low Fat Ice Cream Market Size is projected to register a CAGR of approximately 5% during the forecast period.
Everyone likes to eat the sweet ice cream which tastes faboulous. Low fat ice cream refers to the low fat content in the ice cream. Well, as the rising health concerns started popping up everywhere people have become more aware about the calories they are consuming. This is where the concept of low fat and low calorie has been arrived. Since ice cream is a food favourite among the masses, manufacturers have come up with the solution in the form of low fat ice cream. Typically an ice cream has fat content of 7-11 gm whereas the low fat ice cream has only 2.5 gm content which is a big reduction in fat. The market has become health sensitive, the growth of low fat ice cream in the food industry is expected.
Increased expenditure on healthy food, health awareness among the people, more startups and established companies are entering in manufacturing, these are some drivers currently running the industry.
In the last two decades the world has witnessed several diseases like diabetes, obesity, heart attack, fatty liver has become common among the masses. The reason behind it is increased consumption of foods high in fat and calorie. As health experts suggested to avoid food high in fat, low fat becomes mainstream. Since ice cream is people favorite to eat often, low fat ice cream becomes an healthier alternative. The low fat ice cream has less amount of fat, sugar and preservatives compared to traditional ice cream loaded with fats. The consumption of low fat ice cream has been associated with benefits such as weight loss as it is loaded with fiber. It also reduces risk of cancer and heart diseases due to its low fat content. Since the health benefits are important for masses the low fat ice cream consumption has been increased.
Living healthy is a choice of people to live longer, based on the same people have started spending more money for healthy food. The increased expenditure resulted in increase in demand of health friendly foods which paves the way for investment in the sector. The easy to get low fat food is nothing else than the ice cream, since it offer numerous health benefits, the expenditure on it has been increased.
As the health awareness has increased more companies started taking interest in healthy food industry. As a result many new brands established themselves in the market while the old industry leaders expanded their product portfolio by adding these products. The same scenario can be seen with low fat food especially with ice creams. Many startups advertized aggressively to enter into the market and industry leaders also present the low fat ice cream as a premium healthier product which increased popularity of low fat ice cream. This results in easy availability of low fat ice cream with favorite flavors.
Products which are made of different contents than the regular available contents generally costs higher, the low fat ice cream is higher in cost than the normal ice cream. The high fat content in the ice cream is replaced with sweeteners, non fat milk, protein. As a result, the price of final product gets increased. The cost plays a role in buying decision of consumer due to which consumers with low buying power restrict themselves from buying the product.
The world is witnessing rising inflation in all areas, the food industry is highly sensitive to inflation. The sharp increase in the costs of products in food industry resulting in price increase. The low fat ice cream costs higher than the regular fat ice cream that’s why the inflation impacts the demand of low fat ice cream more compared to regular fat ice cream. A class of people cannot afford to get the low fat ice cream by paying extra as it puts economic burden on them.
The climate change has put many challenges in front of mankind. Since last two decades the winter season has saw sharp decline in temperature such as -2, -4 in parts of Europe which resulted in low demand of ice creams. In winter the demand of hot foods increases to fight cold temperature. The market of ice creams faces negative growth in the winter across the Europe. The winter has been proved to be much harder for ice cream industry
With the rise of different media platforms the information about health becomes mainstreamed. As a result, people across the world are now more aware about their health and checks the nutritional information of the food they are eating. This has impacted the regular fat ice cream as it has high content of fat, sugar and preservatives. With the low number of fat, sugar and other preservatives the low fat ice cream also offers several health benefits including protection from diabetes, heart diseases, indigestion which is why it is receiving more demand in the market.
The low fat ice cream has been proved to offer several benefits to health over the regular fat ice cream. The market currently witnesses the surge in demand and the numbers of sales are impressive. People who dislike to consume ice cream due to health reasons are now consuming low fat ice cream by paying extra and it drives good revenue per product for the company. In 2020 the global ice cream industry was valued at $68,052.20 million and It is projected to reach $122,051.10 million by the end of 2031.
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Soft ice cream contains less milk fat and more air, as the name suggests the ice cream becomes lighter and smoother fluffy texture.
Hard ice creams generally contain double milk fat than the soft ice creams, also the ice cream made up using corn syrup, sugar, non fat milk solids like proteins. Hard ice creams also contain flavorings like pieces of chocolate, fruit, nuts and other sweets.
The low fat ice cream is available on all online food delivery platforms, ice cream delivery portals making it easier for customers to browse and purchase the favorite one.
The supermarkets are the ultimate destination of low fat ice creams, as the customer went there with family. The sales are generally higher in supermarkets due to variety of ice creams.
In every local shop, store low fat ice creams are available, currently it is the largest selling channel of ice creams. Half of the revenue in low fat ice cream industry is being drawn from this channel.
The Global Low Fat Ice Cream Market is segmented by region as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The demand for low fat ice cream has been growing in Europe, as the ice cream does not compromises on taste but also provides health effect. The Europe is one of the most developed part of world and countries like Germany, France are strong countries driving the economy of Europe. Germany has the highest demand for low fat ice cream. The health friendly contents of low fat ice cream and the premium status of this ice cream attracts Europeans towards the ice cream. Spain, France and Italy are also markets with growing demand for the low fat ice cream.
The Americans have been dealing with obesity, heart diseases since long time back. The lifestyle changes among the population has created so many serious health issues. With the awareness on calories and fats, people are moving towards the low fat food including ice creams. The developed chains of supermarkets, food outlets, ample availability of dairy products across the region has contributed to the sales of low fat ice cream. The low fat ice cream has superior quality ingredients, rich taste and multiple flavors has attracted many Americans towards it. The market of low fat ice cream is growing with pace and expected to continue.
The Asia Pacific region has also witnessing growth for low fat ice creams. The young generation who is more aware about health are now buying the product instead of regular fat ice cream. The major players in the ice cream industry are launching products to cater the young customers based on their preferences. Some new companies have also entered in the market to serve the key customers by offering premium products. Countries like China held largest market share, India is the fastest growing market for low fat ice cream industry. The low fat ice cream industry is growing rapidly in this region.
The Middle East and Africa is region where the low fat ice creams are introduced much later. The region has been facing multiple challenges including war, natural calamities, instability therefore this region has a less market share compared to other regions. The good thing is that now people are getting more aware about health and choosing the low fat ice creams instead of regular fat ice creams. The market of low fat ice cream industry is further expected to grow in coming years.
In Apr 2021 India based Habbit health and nutrition has launched range of ice creams contains zero sugar, low fat content and no more than 50 calories per serving.
In Feb 2020 Nick’s, an ice cream brand launched a new creamy, sugar-free, low-calorie fat ice cream that contains one-third of the calories compared to other ice cream brands in the market.