III. Industry Analysis
When it comes to frozen desserts, snow cones are one of the most popular choices in the US. The market is infinite since every one, regardless of age, gender or income, consume snow cones and shaved ice.
As per the report, the US frozen dessert market was valued at $13.3 billion last year and is expected to reach $15.8 billion in the next five years, rising at a CAGR of 2.49%. The majority of US frozen dessert establishments have been in business for more than 20 years, and many are still family-owned businesses.
The US market for frozen desserts is driven by the rising demand for low-sugar and low-calorie desserts domestically. Consumers are becoming increasingly concerned about their health but also crave to try out new delicacies. Rising consumer spending on these desserts and the development of new products have been the key driving factors for the industry’s growth in the past few years. With the shift in trend from desserts such as ice cream post-dinner or lunch toward frozen desserts, these desserts have paved their way into the market, replacing traditional desserts with a lower shelf life.