GCC Ice Cream Market to Reach US$ 969.1 Mn at a CAGR of 6.7% in 2027

GCC Ice Cream Market to 2027 - Regional Analysis and Forecasts By Type (Impulse Ice Cream, Take-Home Ice Cream, and Artisanal Ice Cream); Distribution Channel (Supermarket/Hypermarket, Convenience Store, Specialist Store, and Others) and Country

Publication Month : Dec 2019

  • Report Code : TIPRE00007896
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 116
Inquire Before Buy

PRICING

$3000

$1800

The GCC ice cream market is accounted to US$ 543.0 Mn in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 – 2027, to account to US$ 969.1 Mn by 2027.

Most countries in GCC, such as Saudi Arabia, UAE, Kuwait, and Bahrain, have traditionally been oil economies, but in recent years they have started to promote themselves tourist hubs in the Gulf. Therefore, the demand for ice cream has also surged due to increasing tourism in some of the countries such as the UAE and Saudi Arabia. GCC countries enjoy hot sunny days during the most part of the year. Summer is an undisputed season for the consumption of ice cream and related products. The hot climate and sweltering afternoons in the GCC make for a perfect atmosphere to relish frozen desserts and ice creams. This further boosts the ice cream market in GCC.

GCC Ice Cream Market, Revenue and Forecast, 2018

GCC Ice Cream Market, Revenue and Forecast, 2018
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insights

Long summers and hot climate conditions are projected to boost the GCC ice cream market over the forecast period

The climate in GCC countries such as Saudi Arabia, UAE, Qatar, and Bahrain, among others, is very hot. The UAE has a desert climate, characterized by pleasantly mild winters and very hot, sunny summers. Summers in the UAE are very hot, and the temperature ranges from 38 °C to 42 °C. Likewise, Saudi Arabia is an extremely dry country, and rainfall is minimal. In summers, the country witnesses blistering heat and humid temperatures thus, making it uncomfortable to get around. The climate of Qatar can be described as a subtropical dry, hot desert climate with low annual rainfall, very high temperatures in summer. The harsh climatic condition results in high demand for cold food and beverages. Therefore, ice-cream remains the favorite frozen dessert in GCC countries such as Saudi Arabia, UAE, Qatar, and Bahrain. A large number of ice-cream manufacturers operating in the GCC ice cream market are focusing on introducing new ice-cream variants in the GCC market. Additionally, the growth of the tourism sector and restaurant businesses in the UAE, Qatar, and Bahrain is also expected to support the growth of the ice-cream market.

Growing demand for gluten- and lactose-free ice-creams provides an opportunity for the ice cream market growth

Lactose is one of the main constituent sugars in dairy milk. Lactose intolerance a condition found in many humans; it is characterized by the inability to digest sugar (lactose) in dairy products fully. It is usually caused by a deficiency of the lactase enzyme due to the inability of the body to synthesize it. The growing rate of lactose intolerances around the world has created a demand for gluten- and lactose-free products, including ice-creams. The rapidly expanding trend of veganism has further driven the market for vegan, lactose- and gluten-free ice-cream varieties made from ingredients that are devoid of animal products, based on other milk substitutes, such as almond milk and coconut milk. People of Arab ethnicity are more prone to lactose and gluten intolerances. The growing incidences of lactose intolerance in the GCC is expected to generate high demand for gluten- and lactose-free ice cream products during the forecast period. These factors lead to surge in demand for gluten- and lactose-free ice cream market.

Type Insights

The GCC ice cream market by type has been categorized in impulse ice cream, take-home ice cream, and artisanal ice cream. The demand for impulse ice cream is rising as they can be readily consumed without the need for portioning or preparation. Impulse Ice Cream includes ice cream products such as ice cream cones, ice cream sandwiches, chocolate-coated ice creams, and single-serve ice cream tubs. Impulse ice cream products such as ice cream cones and ice cream sandwiches are sold in individual packages while the traditional ice cream ball in the wafer is sold without a package. Impulse ice creams segment dominates the ice cream market owing to its high popularity among individuals of all age groups. Impulse ice creams offer the convenience of eating ice cream whenever and wherever one wants.

Distribution Channel Insights

On the basis of the distribution channels, the GCC ice cream market is bifurcated into supermarket/hypermarket, convenience store, specialist store, and others. Under the distribution channel segment, the specialist store is the leading distribution segment in the GCC ice cream market. Specialist stores are shops that cater to a single retail market. Some instances of specialist stores include ice cream shops, pharmacies, book stores camera stores and stationeries. They specialize in sales of just one type of product of the range. Specialist stores have to compete with other types of stores such as grocery stores, department stores, supermarkets, general stores, and variety stores. Since specialty stores are category specialists, they use their buying power to negotiate lower prices, excellent terms and assured timely supply. The growing number of specialist stores selling a wide range of ice cream products is expected to drive the ice cream market in the forecast period.

GCC Ice Cream Market by Distribution Channel

GCC Ice Cream Market by Distribution Channel
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

GCC Ice Cream Market: Strategic Insights

gcc-ice-cream-market
Market Size Value inUS$ 543.0 Million in 2018
Market Size Value byUS$ 969.1 Million by 2027
Growth rateCAGR of 6.7% from 2019-2027
Forecast Period2019-2027
Base Year2019
Analyst Image

Shejal

Have a question?

Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Mergers & acquisition, strategy and business planning, and new product development were observed as the most adopted strategies in the GCC ice cream market. Few of the recent developments in the GCC ice cream market are listed below:

2019:

Mars Incorporated has recently acquired its Dubai subsidiary fully following the new GCC law on foreign ownership.

2019:

Mars Wrigley Confectionery expanded the range of its single-serve ice creams by adding of the snicker's dark chocolate and Twix triple chocolate ice cream bars in its range.

2019:

The Dubai Multi Commodities Centre (" DMCC "), the licensing authority for the Jumeirah Lakes Towers ("JLT") Free Zone, has witnessed and welcomed Dunkin’ Brands Group, Inc. parent and its two most recognizable brands, Dunkin’ Donuts and Baskin-Robbins

GCC ICE CREAM MARKET SEGMENTATION

By Type

  • Impulse Ice Cream
  • Take-Home Ice Cream
  • Artisanal Ice Cream

By Distribution Channel

  • Supermarket/Hypermarket
  • Convenience Store
  • Specialist Store
  • Others

By Country

  • Saudi Arabia
  • UAE
  • Qatar
  • Bahrain
  • Rest of GCC

Company Profiles

  • Desert Chill Ice Cream LLC
  • Dunkin Brands, Inc.
  • General Mills, Inc.
  • Maras Turka
  • Mini Melts Inc.
  • Nestle S.A.
  • IFFCO
  • Mars, Incorporated
  • Graviss Group (Pure Ice Cram Co. LLC)
  • Unilever
  • Saudi Dairy & Foodstuff Co Ltd
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Distribution Channel and Country

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Saudi Arabia, Brazil, Argentina

Frequently Asked Questions


Q.3. What is the major driving factor to favor the ice cream market in GCC region?

Long summers and hot climate conditions are influencing the market for ice cream in the GCC region. The climate in GCC countries such as Saudi Arabia, UAE, Qatar, and Bahrain, among others, is very hot. The UAE has a desert climate, characterized by pleasantly mild winters and very hot, sunny summers. The climate of Qatar can be described as a subtropical dry, hot desert climate with low annual rainfall, very high temperatures in summer. The harsh climatic condition results in high demand for cold food and beverages. Therefore, ice-cream remains the favorite frozen dessert in GCC countries such as Saudi Arabia, UAE, Qatar, and Bahrain. It is a lucrative market for frozen desserts and dairy products as the consumption is expected to grow rapidly.

By type, which was the leading type to hold the largest share in the market and by what CAGR?

The leading type of ice cream was the impulse ice cream. In 2018, the impulse ice-cream segment held the major market share of 46.7% in the GCC ice cream market and is expected to grow at a CAGR of 6.5%. Impulse ice cream is a single-serve ice cream purchased for immediate consumption. They can be readily consumed without the need for portioning or preparation. Impulse ice creams segment dominates the ice cream market owing to its high popularity among individuals of all age groups. Impulse ice creams offer the convenience of eating ice cream whenever and wherever one wants.

Q.2. Which was the country to account the largest share for the GCC ice cream market?

Saudi Arabia led the GCC ice cream market with a market share of 50.7% in 2018. Rapid industrialization, urbanization, and its shift from the oil economy to becoming a tourism hub have spurred the growth of the ice cream industry in Saudi Arabia over the past few years. Ice creams are consumed throughout the year by people of all age groups in Saudi Arabia. The influence of western culture in Saudi Arabia has brought about a cultural change in the conservative Arab country. Western cuisines, desserts, and ice cream have now become a part of their diets. These factors further propel the demand for ice cream in Saudi Arabia. The emergence of new ice cream parlors and convenience stores in Saudi Arabia has supported the growth of the ice cream market in Saudi Arabia.

The List of Companies

  1. Desert Chill Ice Cream LLC
  2. Dunkin Brands, Inc.
  3. General Mills, Inc
  4. Maras Turka
  5. Mini Melts Inc.
  6. Nestle S.A.
  7. IFFCO
  8. Mars, Incorporated
  9. Graviss Group (Pure Ice Cream Co. LLC)
  10. Unilever

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to GCC Ice Cream Market