Frozen Drinks Market Definition
Industry Perspective:
The global frozen drinks market size was worth USD 36,497.23 million in 2022 and is estimated to grow to USD 58,611.51 million by 2030, with a compound annual growth rate (CAGR) of approximately 6.10% over the forecast period. The report analyzes the frozen drinks market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the frozen drinks market.
Frozen Drinks Market: Overview
Non-alcoholic or alcoholic drinks that have been refrigerated below their freezing point are often referred to as frozen drinks. Since they are frequently accessible in frozen form, they do not need to be chilled before being served. They can be bought in stores and eaten right away after thawing on kitchen countertops with an icebox or by adding water just before serving. In addition, the market for frozen drinks includes both alcoholic and non-alcoholic drinks. This comprises a wide range of beverages, including milkshakes, slushies, smoothies, frozen cocktails, frozen coffee drinks, and frozen sweets like ice cream and gelato. Furthermore, the market for frozen drinks is anticipated to expand as a result of a variety of factors, including the rising demand for quick-to-grab food and drink options, the popularity of frozen drinks among millennials and Generation Z, and the rising disposable income of consumers.
nForming Frozen Drinks Market Smart Book
The nForming Frozen Drinks Market Smart Books offer a comprehensive compilation of data pertaining to historical revenue, user volume, patient data, prices, and other relevant information for each segment. This includes products and services, type of indication, age group, and detailed analysis of service providers with coverage at both regional and country levels. The data spans the past three years and provides projections up until 2030. The smart book also provides extensive information on the leading suppliers and their corresponding market shares in the frozen drinks market. The frozen drinks market comprises a range of qualitative factors, including significant growth drivers, opportunities, and challenges.
Frozen Drinks Market: Recent Developments
The frozen drinks industry is seeing a variety of developments. Among the major development areas are:
Recent Developments
- In July 2023, The U.S. Soccer Federation and Coca-Cola North America signed a long-term collaboration deal to support the growth of the sport at all levels by increasing fan engagement, championing player development, and building participation.
- In April 2023, SOUR PATCH KIDS Watermelon FCB, a new limited-time flavor for the summer, was introduced by Sunny Sky Products. Every time, this delectable frozen delicacy ensures enjoyment and refreshment by starting the tongue with a zesty blast and ending it with a sweet watermelon flavour.
Read more opportunities in the frozen drinks market in the Smart Book.
Frozen Drinks Market Drivers
Increasing demand for convenient drinks will promote frozen drinks to drive market growth
The market for frozen drinks is expanding significantly due to the increasing demand for convenient drinks. As consumers hunt for quick-to-drink beverages that they can have while on the go, they are becoming busier. Drinks that can be rapidly and easily prepared and consumed while on the go, such as frozen beverages, are ideal for this situation. Additionally, especially in hot weather, frozen drinks are frequently seen as a refreshing pleasure. This makes them popular with customers of all ages, but young people and millennials are their biggest fans. The market is also being driven by the rising demand for fresh and inventive frozen drink products, like nutritious and useful frozen drinks.
Frozen Drinks Market: Restraints
Health issues hinder market growth.
A significant barrier to the expansion of the frozen drinks industry is health issues. The excessive sugar content in frozen drinks is one of the most serious health issues. Many frozen drinks, like milkshakes and smoothies, contain high-sugar ingredients like ice cream, fruit syrups, and whipped cream. Weight gain, obesity, and other health concerns such as diabetes and heart disease might result from this. The high calorie content of frozen drinks is yet another health problem. Even when produced with healthy ingredients, frozen drinks are often heavy in calories. This is due to the fact that they are frequently created with ice cream or other high-fat ingredients.
Frozen drinks may potentially include unhealthy fats. Milkshakes and frappuccinos, for example, are made using whole milk and cream. High cholesterol and other cardiovascular issues can result from this. Aside from the health risks mentioned above, frozen drinks can also be a source of food poisoning if not handled appropriately. Frozen drinks can contain harmful bacteria such as Salmonella and E. coli, which can cause food poisoning symptoms such as nausea, vomiting, diarrhea, and abdominal cramps.
Read all the major drivers and trends of the frozen drinks market in the Smart Book.
Frozen Drinks Market Regional Landscape
Europe dominated the Frozen Drinks market in 2022
The market’s expansion is attributable to several factors, including increasing urbanization and changing lifestyles, rising consumer incomes and disposable incomes, the popularity of frozen drinks as a convenient and healthy snack or meal replacement, rising millennial demand for alcoholic frozen drinks, and growing knowledge of the health benefits of frozen drinks, such as their capacity to hydrate and cool the body, are driving this region’s growth. In addition, a few of the major companies competing in the European frozen drinks industry are Coca-Cola, PepsiCo, Diageo, Pernod Ricard, Unilever, Nestlé, Danone, JDE Peet’s, Mondelez International, Mars, and Ferrero. These firms are focusing on product innovation and expansion into new markets.
Read more competitive developments in the Frozen Drinks Market Smart Book.
Frozen Drinks Market Key Companies
Davide Campari-Milano N.V. (Netherlands)
Diageo PLC (U.K.)
Halewood International Limited (U.K.)
Asahi Group Holdings, Ltd. (Japan)
Accolade Wines (Australia)
Bacardi Limited (Bermuda)
Mike’s Hard Lemonade Co. (U.S.)
Castel Group (France)
Suntory Holdings Limited (Japan)
Anheuser-Busch InBev SA/NV (Belgium)
The Brown-Forman Corporation (U.S.)
United Brands Company, Inc. (U.S.)
PernodRicard SA (France)
The Miller Brewing Company (U.S.).
Frozen Drinks Market Segmentation:
The global frozen drinks market has been segmented into service, end-user, and mode of transit.
Based on type, alcoholic drinks and non-alcoholic drinks are segments of the global frozen drinks market. The non-alcoholic drinks segment dominated the market in 2022. It is because non-alcoholic frozen drinks are becoming more widely available in a range of flavors and forms, as well as because healthy and refreshing drinks are becoming more and more well-liked, and there is a growing need for convenience foods and drinks.
Based on application, the market is classified into hypermarkets and supermarkets, food and drink specialists, convenience stores, hotels, restaurants, cafes (HoReCa), and others. In 2022, the hypermarket and supermarket category dominated the global market. Millennials and other shoppers have been drawn to hypermarkets and supermarkets to buy frozen drinks because of the ease of shopping for a variety of groceries under one roof. Furthermore, chains of hypermarkets like Tesco and Carrefour provide online shopping options, so they anticipate bigger sales volumes in the years to come as a result of the expansion of e-commerce platforms globally.
Based on product form, the market is classified into ice pops and popsicles, freezer pouch drinks, slushy drinks, smoothie drinks, milkshake drinks, and others. In 2022, the ice pops and popsicles category dominated the global market. People of all ages enjoy the famous frozen drinks called ice pops and popsicles. They provide an easy and cool method to stay cool on a hot day. Ice pops and popsicles are also reasonably priced, making them a preferred option for consumers on a tight budget.
Segmentation:
Frozen Drinks Market, By Type |
|
Frozen Drinks Market, by Application |
|
Frozen Drinks Market, by Product Form |
|
Frozen Drinks Market, By Geography |
|
Frequently Asked Questions (FAQs):
- Which key factors will influence frozen drinks market growth over 2023-2030?
The main reasons anticipated to propel the frozen drinks market during the forecast period are the expanding working population, customer preference for hygienic products, and new marketing techniques for target consumers.
- What will be the value of the frozen drinks market during 2022-2030?
According to the report, the global frozen drinks market size was worth USD 36,497.23 million in 2022 and is estimated to grow to USD 58,611.51 million by 2030, with a compound annual growth rate (CAGR) of approximately 6.10% over the forecast period.
- Which region will contribute notably towards the frozen drinks market value?
Europe is anticipated to continue leading the frozen drinks market throughout the projected period.
- Which are the major players leveraging the frozen drinks market growth?
Some of the main competitors dominating the global frozen drinks market include – Davide Campari-Milano N.V. (Netherlands), Diageo PLC (U.K.), Halewood International Limited (U.K.), Asahi Group Holdings, Ltd. (Japan), Accolade Wines (Australia), Bacardi Limited (Bermuda), Mike’s Hard Lemonade Co. (U.S.), Castel Group (France), Suntory Holdings Limited (Japan), Anheuser-Busch InBev SA/NV (Belgium), The Brown-Forman Corporation (U.S.), United Brands Company, Inc. (U.S.), PernodRicard SA (France), The Miller Brewing Company (U.S.).
