The Spanish Ice Cream market is forecast to register slow growth at a CAGR of just over 1% by 2018, according to a new study on ASDReports

Monday 14 July 2014, Amsterdam

Report description overview:
The new report now available on ASDReports, provides an overview of the market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. The report highlights innovative new product developments that effectively target the most pertinent consumer need states, and offers strategic recommendations to capitalize on evolving consumer landscapes.

The difference:

• This report brings together consumer analysis and market data to provide actionable insight into the behavior of Spanish Ice Cream consumers.
• Provides market value and volumes to 2018 for Spain and nine other countries, to give a global context.
• Gain an understanding of the degree of influence that the 20 key consumer trends identified by the report have on Ice Cream consumption volumes, with granular analysis on the extent that the degree of influences varies between gender and age group

Report highlights:

The Ice Cream market in Spain has witnessed slow growth in terms of both value and volume. The Ice Cream market has been affected by the economic situation in the country, resulting in consumers opting for affordable, value for money products. Rising prices of raw materials is expected to restrict sales growth, with the sector increasing at a CAGR of under 2% by 2018, in value terms.
Market volume is forecast to increase over by 2018, growing at a lower rate compared to value growth. The extension of product portfolios and new product launches in terms of flavors and formulations is driving high volume consumption in the country.

The Spanish Ice Cream market is dominated by the Take-Home Ice Cream category, which accounts for 60% of overall volume consumption. This is followed by the Impulse Ice Cream and Artisanal Ice Cream categories, registering a market share of over 38% and under 2% respectively.

The largest category, Take-Home Ice Cream, is expected to register a CAGR of over 1% by 2018. Prevailing economic uncertainty in the country is causing Spanish consumers to cut back on out of home activities, which has resulted in higher demand for Take-Home Ice Cream. Manufacturers are increasingly introducing multi-pack varieties in order to position Ice Creams as a snacking option which can be enjoyed and shared at home.