[Research Report] The icing and frosting market was valued at US$ 4,883.15 million in 2022 and is expected to reach US$ 6,730.00 million by 2030; it is estimated to record a CAGR of 4.1% during 2022–2030.

MARKET ANALYSIS

Icing and frosting is a dynamic segment of the bakery ingredients in the retail industry, as they are highly used to decorate and add flavors to cakes, pastries, and other baked goods. With a growing global consumer base interested in indulgent treats and specialty desserts, the icing and frosting market has witnessed steady expansion fueled by factors such as urbanization, changing consumer lifestyles, and the popularity of home baking. Product segmentation includes traditional options such as buttercream and royal icing, alongside newer innovations such as fondant and cream cheese frosting, catering to a wide range of tastes and preferences. Distribution channels vary from supermarkets, convenience stores, and specialty bakeries to online retail platforms, reflecting the diverse shopping habits of consumers.

In recent years, there has been a growing demand for natural and organic icing and frosting products, driven by health-conscious consumers seeking cleaner and more transparent ingredients. This has led to the development of products made with plant-based alternatives, natural sweeteners such as maple syrup or honey, and traditional dairy-based frosting. Additionally, the rise of social media and baking shows has led to a growing desire for unique and visually appealing decorations for baked goods. Consumers seek customized and personalized icing and frosting options, creating opportunities for specialty companies offering creative designs and edible prints.

Major factors contributing to the growing icing and frosting market size are the rising interest in home baking, and culinary exploration and globalization. Culinary exploration and globalization foster a demand for diverse, exotic flavors that transcend traditional boundaries. The globalization of food preferences has led to increased exposure to a wide array of culinary influences from across the world. As consumers become adventurous in their taste preferences, there is a growing demand for unique and international flavors in baked goods. This global culinary exploration directly influences the icing and frosting market size, with consumers seeking innovative and premium options that reflect a fusion of diverse tastes and textures.

The multicultural composition of many societies contributes to a demand for icing and frosting that cater to various cultural preferences. As individuals from diverse cultural backgrounds interact and share culinary experiences, there is an increased desire for products that align with specific cultural tastes. This trend is evident in the icing and frosting market, where manufacturers are introducing a range of flavors inspired by various cuisines to appeal to a diverse consumer base. The emphasis on providing products that cater to different cultural palates drives innovation in the icing and frosting market.

The availability of premium and exotic ingredients across the world contributes to the globalization of flavors in the icing and frosting market. Consumers are increasingly seeking products that incorporate unique and high-quality ingredients sourced globally. This has prompted manufacturers to explore a variety of exotic flavors and textures, introducing a level of sophistication to icing and frosting that aligns with the discerning tastes of consumers engaged in culinary exploration. The fusion of global ingredients is meeting the demand for unique flavors and elevating the quality of products in the icing and frosting market.

GROWTH DRIVERS AND CHALLENGES

Culinary exploration and globalization foster a demand for diverse, exotic flavors that transcend traditional boundaries. The globalization of food preferences has led to increased exposure to a wide array of culinary influences from across the world. As consumers become adventurous in their taste preferences, there is a growing demand for unique and international flavors in baked goods. This global culinary exploration directly influences the icing and frosting market, with consumers seeking innovative and premium options that reflect a fusion of diverse tastes and textures.

The multicultural composition of many societies contributes to a demand for icing and frosting that cater to various cultural preferences. As individuals from diverse cultural backgrounds interact and share culinary experiences, there is an increased desire for products that align with specific cultural tastes. This trend is evident in the icing and frosting market, where manufacturers are introducing a range of flavors inspired by various cuisines to appeal to a diverse consumer base. The emphasis on providing products that cater to different cultural palates drives innovation in the icing and frosting market.

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Icing and Frosting Market: Strategic Insights

Icing and Frosting Market

• 
  CAGR (2022 - 2030)

  4.1%
• Market Size 2022
  US$ 4.88 Billion
• Market Size 2030
  US$ 6.73 Billion

Market Dynamics

GROWTH DRIVERS

• Rise in Interest in Home Baking
• Culinary Exploration and Globalization

FUTURE TRENDS

• Rise of Premium and Artisanal Offerings

OPPORTUNITIES

• Expansion of E-Commerce

Key Players

• Wilton Brands LLC
• General Mills Inc
• Conagra Brands Inc
• Dr. Oetker (UK) Ltd
• Dixie's Cakes and More Inc
• Cake Craft Factory LLC
• The Pillsbury Co LLC
• Rich Products Corp
• The Purple Mixer Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Icing and Frosting

Category

• Gluten-Free and Conventional

Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Retail
• Others

Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South and Central America

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REPORT SEGMENTATION AND SCOPE

The "Global Icing and Frosting Market Analysis" has been carried out by considering segments such as type, category, distribution channel, and geography. The report provides key statistics on the use of icing and frosting across the world, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of factors affecting the market performance in major regions and countries. It also includes a comprehensive analysis of the leading players in the market and their key strategic developments. Analysis of the market dynamics is also included to help identify the icing and frosting market trends, key driving factors, and lucrative opportunities that would, in turn, aid in generating higher revenues.

The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global icing and frosting market, which helps understand the entire supply chain and various factors influencing the icing and frosting market growth.

SEGMENTAL ANALYSIS

The market is segmented on the basis of type, category, distribution channel, and geography. Based on type, the market is segmented into icing and frosting. The frosting segment holds a larger icing and frosting market share. Frosting is a sweet and creamy topping commonly used on baked goods. It is similar to icing but has some differences in ingredients and texture. It is often thicker and fluffier, focusing on creating a smooth and spreadable consistency. Frosting contains powdered sugar, butter, shortening, and flavorings such as vanilla or chocolate. Unlike icing, which may have a more liquid or glaze-like consistency, frosting tends to be more substantial and is often used for decorating cakes, cupcakes, and other desserts.

The increasing popularity of home baking, driven by the desire for homemade treats and creative culinary experiences, has led to a heightened demand for convenient and versatile frosting options. Additionally, the influence of baking shows, both on traditional television and streaming platforms, has inspired individuals to experiment with different frosting techniques to achieve professional-looking results. The demand for customization and personalization in home-baked goods, fueled by events such as birthdays and celebrations, bolsters the need for diverse and flavorful frosting varieties. Popular types of frosting are buttercream, cream cheese frosting, and ganache, each offering a unique taste and texture profile for various dessert applications.

REGIONAL ANALYSIS

The report provides a detailed overview of the global icing and frosting market with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific accounted for the largest global icing and frosting market share, and the market in the region was valued at ~US$ 1,190 million in 2022. The market in Europe is expected to reach ~US$ 2,090 million by 2030. The market in North America is expected to record a CAGR of ~3% in the forecast period, 2022 to 2030. In Asia Pacific, the upsurge in demand for icing and frosting is influenced by a combination of cultural shifts, evolving consumer tastes, and the growing popularity of Western-style desserts. There is a rise in the middle-class population with increasing disposable income in many Asian countries. This demographic shift has increased interest in premium and indulgent food experiences, including baked goods decorated with beautiful and flavorful icing. As lifestyles become more affluent, the demand for home-baked, visually appealing, and gourmet desserts has expanded, driving the icing and frosting market growth in the region. Additionally, the globalization of food trends, particularly the influence of Western cuisine, has significantly shaped consumer preferences in Asia Pacific.

Icing and Frosting Market Report Scope

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COMPETITIVE LANDSCAPE AND KEY COMPANIES

Wilton Brands LLC, General Mills Inc, Conagra Brands Inc, Dr. Oetker (UK) Ltd, Dixie's Cakes and More Inc, Cake Craft Factory LLC, The Pillsbury Co LLC, Rich Products Corp, The Purple Mixer Inc, and The Simple Kitchen Oakville Inc are among the prominent players profiled in the icing and frosting market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The icing and frosting market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Initiatives taken by the key players operating in the icing and frosting market are listed below:

• In 2022, Duncan Hines partnered with the Birthday Party Project to make birthdays a little sweeter for kids in need.
• In 2022, Duncan Hines Partners with Global Superstar Dolly Parton To Bring New Southern-Style Desserts To The Table