Whipped Topping

• Whipped topping is an ingredient that is nondairy, and can be like heavy whipping cream. Whipped cream is usually made of heavy cream, sugar, and sometimes vanilla and gelatin. Whipped toppings usually have a cream substitute, more sugar, and artificial flavorings and stabilizers.
• Globally, whipped topping's market size is $3897.9m. It's projceted to keep growing and will hit $5966.6m by 2026 thanks to a high CAGR of 6.2%.
• Europe has the highest demand (42% of total) followed by North America (36.56%).
• There was no available information on the consumer for whipped topping; however, based on its usage as an ingredient, 80% of women say they are the ones that usually prepare meals and are therefore the likely target.

Yogurt

• Global market size for yogurt was $38.7b in 2018. It's expected to hit $51.2b by 2024, with a CAGR of 4.8%.
• Demand for yogurt has been falling since 2015 in the US, after a peak of nearly $9b. By 2019 they were around $8.2b and are expected to keep falling another 10%, hitting $7.4b by 2024.
• Several manufacturs are turning to innovation to stop the decline but are also diversifying away from dairy.
• Yogurt is overwhelmingly bought at the grovery store (65.8% of purchases).
• In the US, more yogurt is consumed by Generation Z and Millennials, while Generation X eats less.

Frozen Yogurt

• Frozen yogurt will continue to grow globally, hitting $8.65b by 2024 thanks to a CAGR of 4.5%.
• The biggest market will continue be North America, given consumers' existing preference for low-calorie desserts, other health reasons, the presence of large manufacturers, and the resulting vast availability of product. THE US market size is estimated to be around $826m.
• However, demand has been decreasing in the US, in line with the overall decline for yogurt. The average industry growth from 2015-2020 is -7.9%.
•  Asia-Pacific will grow the fastest although preference will be for lactose-free.

Ice Cream

• The global market for ice cream was worth $62b in 2019. It's expected to continue to grow quickly, reaching a valuation of $98b by 2025 with a CAGR of 7.8%.
• Continued innovation (including the launch of healthy options), the demand for convenience, the thriving food and beverage industry (where ice cream can also be used as an ingredient) and increasing product premiumization are a few of the trends expected to drive this growth.
•  Vanilla is the most popular flavor.
• Most ice cream is bought in supermarkets/hypermarkets (vs. other channels like convenience stores, ice cream parlors, online stores, or other locations).
• The market can be broken up into take-home, impulse and artisanal ice cream. Ice cream is mostly an impulse buy, with the exception of the US, where take-home handily dominates these types. It surpasses impulse buys by 200%.
• In the US, ice cream demand will continue to grow from 2020-2025 with a CAGR of 2.89%.
•  98% of all American households buy ice cream, with 86% saying they have ice cream in the freezer at all times. This means it encompasses almost all income levels.
• In the US, at least, families are the main target for ice cream makers and marketing is primarily done at a regional or local level. Two out of five ice cream makers said there was an increasing demand for premium ice cream, with 17% seeing demand for gelato and 15% for more sorbet. Low-fat and non-fat ice cream demand also increased but only by 4%.
• There are clear favorites in the US- pecans are the favorite nut and strawberries the favorite mix-in fruit. The most successful ice cream market is the Great Lakes region.

Purchasers

• Given the nature of most of these products, they are likely to bought at supermarkets or hypermarkets. In the US, grocery shopping is claimed to be shared by partners in multiperson households- 86% of all adults said they were responsible for at least half the shopping. 37% of them had a "primary shopper", and another 33% said it was shared equally. 25% of the survey was made up of single-person households who did all their own shopping.
• In another study, 80% of women said they were the usual grocery shopper. Among households with regular male shoppers, however, 53% of men claim to be the primary shopper.
• In the US, those shoppers can also be broken along generational lines.
•  Gen Z (aged 12-21) spends the least, averaging about $269 a month. 4 out of 10 use a digital shopping list and go often, averaging 4.2 trips to the grocery a month.
•  Millennials (aged 22-36) spend about $298 a month. They're not brand loyal, 48% will switch in case of a deal. 60% use mobile apps for discounts, higher than any other generation. 46% of them have kids, in which case they'll spend about $100 more. Given that most ice creams in the US target families as mentioned earlier, these and the Gen X generation are likely to encompass the audience's age range. In 2018, the average age of first birth for US mothers was 26.
•  Gen X (aged 37-52) spend the most, about $380 a month. They want to try new dishes.
•  Boomers (aged 53-71) spend about $314. They're loyal to brands and their primary grocery stores.
• The Silent Generation (72+) spend about $287 a month, and seek value.