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The Frosting & Icing Market Size is estimated to reach $11.6 billion by 2028 and it is poised to grow at a CAGR of 5.1% over the forecast period of 2023-2028. According to United
Nations Conference on Trade and Development (UNCTAD) report 2019, online retail
sales have made up 65% of worldwide B2C e-commerce in 2019. And Online retail
sales as a percentage of overall retail sales increased by three percentage
points in 2020 (from 16% to 19%) as opposed to a two-point increase between
2018 and 2019. Frosting & Icing is majorly used in bakery products and
consumers are mostly preferring online retail stores to purchase bakery
products. The distinction between physical and online shopping is fading as
more and more large brick-and-mortar grocery stores announce click-and-collect
and a variety of delivery options, giving customers the best of both worlds. The
major companies are attempting to develop a plan that supports both traditional
retail and online sales on a global scale.
Frosting & Icing Market - Drivers
Technological Advancements
in Frosting and Icing are Fueling the Market Growth.
The ability to automatically frost, ice, fill and add other modifications to cakes, muffins and other baked items has been made possible by advancements in robotics, vision systems, servomotors and other areas of industrial digital technology. According to the Hungary Ventures Report in 2021, Food Tech investment is on the rise to record levels with deal values well over $13 billion. A rise in investment in innovation across traditional food categories is being driven by growing worries about the effects of food production on the environment and human health. The key players are opting to adopt advanced technologies to develop innovative icing products, which is one of the major factors driving the growth of the frosting and icing market.
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Consumers' Evolving Lifestyle is Enhancing the
Growth of the Frosting and Icing Market.
Consumers are preferring frosted cakes during birthdays, celebrations and festive occasions. There is rising demand for pastries and muffins among young
people. The availability of numerous flavors and taste experiences changes
consumers’ eating patterns. Businesses are always seeking new ways to
optimize and improve their food production while also beginning to make
adjustments to changing consumer expectations. Health, freshness and
sustainability have received more attention. People are growing more concerned
with the ingredients and origins of the food they eat. According to American
Bakers Association, 66% of consumers indicate they are replacing meals with
snacks. Consumers moving to a more flexible eating schedule. Consumers’
preference for snacking as a regular eating behavior over traditional mealtime
eating occasions continues to gather momentum. Consumers also are preferring
snacks as well-being boosters throughout their daily lives.
Product Launches
On 25th January 2022, Duncan Hines, a brand of Conagra Brands, Inc. introduced a new line of desserts with Dolly Parton, a renowned humanitarian, international icon and beloved GRAMMY Award-winning musician. Cake mixes and frostings from this new collection are based on some of Dolly's favorite childhood desserts, including coconut cake and banana pudding cake.
The
Major Players in The Market Include-
The major players in the Frosting & Icing Market include Rich Products Corporation, General Mills, Inc., Wilton Brands LLC., Dawn Food Products, Inc., Lawrence Foods, Inc., Dixie's Icing, Macphie Ltd., Oetker Group, Cake Décor Ltd. and Conagra Brands, Inc.