Frosting & Icing Market Overview
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. Frosting and
icing are used to embellish baked goods including cakes, muffins and pastries.
Cakes and pastries are covered in icing, a thin, sweet glaze coating that
hardens as it cools. Cakes are also covered in frosting, a thick and dense
butter or cream covering. The primary components for frosting and icing are
sugar, butter and milk or water. These ingredients can be flavor-added with
things like chocolate, fruit juice or extracts and other things. Increasing
demand for bakery products is a major factor propelling the demand for frosting products and is also anticipated to drive the growth of the Frosting & Icing Market size. An increase in bakeries, rising demand for
cakes and pastries and an expansion of the food sector are some of the factors
driving the Frosting & Icing Industry forward in the projected period of 2023-2028.
Frosting & Icing Market Report Coverage
The report: “Frosting & Icing Market Forecast (2023-2028)" by IndustryARC, covers an in-depth analysis of the following segments in the
Frosting & Icing Market.
Key Takeaways
- Geographically, North America held a dominant market share in the year 2022. Customers in North America seek meals that would satisfy their dietary needs while also being quick and easy to prepare to owe to their busy lifestyles.
- The Frosting & Icing Market is driven by rising demand for cakes and pastries in the bakery industry. However, Regular consumption of bakery products may have a harmful impact on people's health, which is impeding the Frosting & Icing Market growth.
- A detailed analysis of the strengths, weaknesses, opportunities and threats will be provided in the Frosting & Icing Market Report.
Frosting & Icing Market: Market Share by Region (%), 2022.
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Frosting & Icing Market: by Product Type
The Frosting & Icing Market
based on product type can be further segmented into Buttercream
Frosting, Cream Cheese Frosting, Royal Icing, Ganache, Dusting and Boiled or
Cooked Icing. The buttercream Frosting
segment held a dominant market share in 2022 for Frosting & Icing Industry. Owing to its dependability and simplicity of usage, most manufacturers
are also working on innovative buttercream frosting and Fondant icing products,
which are anticipated to fuel market expansion for frosting and icing. The buttercream Frosting segment is also estimated to be the fastest growing with a
CAGR of 5.7% over the forecast period of 2023-2028. According to the Renshaw survey report 2019, Buttercream scored an astounding 81%, proving that
consumers continue to choose simple, creamy flavors. Nearly half of respondents
picked sugar paste frosting, which was far behind in popularity. Nearly a third
of respondents chose ganache and then the chocolate was the second choice. Owing to the varied characteristics of buttercream icing, the
market for buttercream frosting will expand as a consequence of proper customer
knowledge among food makers and food services regarding buttercream and whipped
cream frosting.
Frosting & Icing Market: by Application Type
The Frosting & Icing Market
based on Application type can be further segmented into Bakery, Restaurant
and Household. The Bakery segment held a dominant market share in 2022 for Frosting & Icing Industry. One of the key reasons fueling the
expansion of the world market for frosting and Fondant icing is the increase in
demand for bakery products, mainly cakes and pastries that are covered with
glaze. The bakery segment is also estimated to be the fastest
growing with a CAGR of 5.9% over the forecast period of 2023-2028. According to Chron
report 2021, there are about 6,000 independent retail bakeries and almost 3,000
commercial bakeries in the U.S. Owing to
the essential foods for human nourishment have been baked goods for a very long
time. They are largely sustaining in the present market owing to their ease,
accessibility and nutritional composition.
Frosting & Icing Market: by Geography
Geographically, North America held a dominant market share of 41% in 2022 for Frosting & Icing Industry owing to customers in North America seeking meals that would satisfy their dietary needs while also being quick and easy to prepare to owe to their busy lifestyles. Asia-Pacific is estimated to be the fastest-growing region with a CAGR over the forecast period of 2023-2028. This is owing to the availability of a wide range of bakery products and whipped creams in the region. According to Glanbia plc report 2021, 74% of customers in the region buy bread, 57% of consumers buy waffles and 50% of consumers buy cakes and patisserie on a weekly basis. Bread consumption is high even though more people are substituting snacks for meals, which is one of the major factors driving the Frosting & Icing Market Share.
Frosting & Icing Market Drivers
Rising Demand for Cakes and Pastries is One of the Key Reasons Propelling the Growth of the Worldwide Frosting and Icing Market.
According to the United States
Department of Agriculture (USDA) report 2021, currently, cakes make up 41% of
all retail sales of baked products in China, with a value of $14 billion
annually. Owing to consumers' shifting tastes for more sophisticated baked
options, the bakery business has been seeing fresh gains. Cakes, pastries and
other sweet foods are frequently consumed in conjunction with special occasions
throughout the year, including birthdays, anniversaries, Easter, Thanksgiving and Christmas. The increasing demand for cakes and pastries in the bakery
industry is driving the Frosting & Icing Market forward in the
projected period.
The Market for Frosting and Icing is Expanding Owing to Increased Urbanization and Rising Affluence.
According to The World Bank
Data report, approximately 4.4 billion people or 56% of the world's
population, reside in cities. By 2050, approximately 7 out of 10 people will
live in cities, with the urban population predicted to more than double its current level. Changing work habits of urban people demand convenience in food
consumption. Consumers demand convenience and are willing to pay more, rather buy time than prepare food. Thus, the amount of processed
foods consumption is increasing among the urban population, which is fuelling the
growth of the Frosting & Icing Market.
Frosting & Icing Market Challenges
Regular Consumption of Bakery Products may have Harmful Impacts on People's Health, impeding Market Growth.
According to World Health
Organization((WHO) report, more than 1.9 billion adults aged 18 years and older
are overweight. Of these over 650 million adults were obese. Regular
consumption of bakery products may have harmful impacts on people's health,
including high cholesterol, diabetes and obesity. This rise in the harmful
impacts owing to excessive consumption of bakery products is impeding the
expansion of the world market for Frosting and Icing.
Frosting & Icing Industry Outlook
Product launches, mergers and acquisitions, joint ventures and
geographical expansions are key strategies adopted by players in the Frosting
& Icing Market. The top 10 companies in the Frosting & Icing Market
are:
- 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.
- Conagra Brands, Inc.
Recent Developments
- 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.
- On 4th September 2020, Pillsbury Baking, a subsidiary of General Mills, Inc. launched two new products under the Funfetti brand. Funfetti products include Funfetti Mermaid Pink Strawberry Frosting and Funfetti Llama Love Purple Vanilla Frosting. These new frostings make it even simpler for kids to express their creativity.
- On 26th November 2019, Cake Décor Ltd., a cake decorations manufacturer launched colored writing Icings. The eight sparkling writing icings can be used to embellish and personalize baked goods including cakes, cupcakes and cookies. The new and enhanced recipe allows for precise decoration because it doesn't run and is simple to squeeze.
Relevant Titles
Report Code- FBR 65116
Report Code- FBR 52018
Report Code- FBR 81041
For more Food and Beverage Market reports, please click here
LIST OF TABLES
1.Global Major Manufacturers Introduction Market 2023-2030 ($M)1.1 Manufacturers List Market 2023-2030 ($M) - Global Industry Research
1.1.1 Future Strategic Planning Market 2023-2030 ($M)
2.Global Major Manufacturers Introduction Market 2023-2030 (Volume/Units)
2.1 Manufacturers List Market 2023-2030 (Volume/Units) - Global Industry Research
2.1.1 Future Strategic Planning Market 2023-2030 (Volume/Units)
3.North America Major Manufacturers Introduction Market 2023-2030 ($M)
3.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
3.1.1 Future Strategic Planning Market 2023-2030 ($M)
4.South America Major Manufacturers Introduction Market 2023-2030 ($M)
4.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
4.1.1 Future Strategic Planning Market 2023-2030 ($M)
5.Europe Major Manufacturers Introduction Market 2023-2030 ($M)
5.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Future Strategic Planning Market 2023-2030 ($M)
6.APAC Major Manufacturers Introduction Market 2023-2030 ($M)
6.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
6.1.1 Future Strategic Planning Market 2023-2030 ($M)
7.MENA Major Manufacturers Introduction Market 2023-2030 ($M)
7.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Future Strategic Planning Market 2023-2030 ($M)
LIST OF FIGURES
1.US Frosting & Icing Market Revenue, 2023-2030 ($M)2.Canada Frosting & Icing Market Revenue, 2023-2030 ($M)
3.Mexico Frosting & Icing Market Revenue, 2023-2030 ($M)
4.Brazil Frosting & Icing Market Revenue, 2023-2030 ($M)
5.Argentina Frosting & Icing Market Revenue, 2023-2030 ($M)
6.Peru Frosting & Icing Market Revenue, 2023-2030 ($M)
7.Colombia Frosting & Icing Market Revenue, 2023-2030 ($M)
8.Chile Frosting & Icing Market Revenue, 2023-2030 ($M)
9.Rest of South America Frosting & Icing Market Revenue, 2023-2030 ($M)
10.UK Frosting & Icing Market Revenue, 2023-2030 ($M)
11.Germany Frosting & Icing Market Revenue, 2023-2030 ($M)
12.France Frosting & Icing Market Revenue, 2023-2030 ($M)
13.Italy Frosting & Icing Market Revenue, 2023-2030 ($M)
14.Spain Frosting & Icing Market Revenue, 2023-2030 ($M)
15.Rest of Europe Frosting & Icing Market Revenue, 2023-2030 ($M)
16.China Frosting & Icing Market Revenue, 2023-2030 ($M)
17.India Frosting & Icing Market Revenue, 2023-2030 ($M)
18.Japan Frosting & Icing Market Revenue, 2023-2030 ($M)
19.South Korea Frosting & Icing Market Revenue, 2023-2030 ($M)
20.South Africa Frosting & Icing Market Revenue, 2023-2030 ($M)
21.North America Frosting & Icing By Application
22.South America Frosting & Icing By Application
23.Europe Frosting & Icing By Application
24.APAC Frosting & Icing By Application
25.MENA Frosting & Icing By Application