Report : North America Icing and Frosting Market Forecast to 2030 - Regional Analysis - by Type (Icing and Frosting), Category (Gluten-Free and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 3.5% CAGR, North America Icing and Frosting Market is Speculated to be Worth US$ 1,921.25 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the North America icing and frosting market was valued at US$ 1,454.81 million in 2022 and is expected to reach US$ 1,921.25 million by 2030, registering a CAGR of 3.5% from 2022 to 2030. Rise of premium and artisanal offerings and expansion of E-commerce are among the critical factors attributed to drive the North America icing and frosting market growth.
The rise of premium and artisanal offerings is anticipated to be a notable trend in the icing and frosting market, reflecting a shift in consumer preferences toward more sophisticated and high-quality products. Consumers increasingly value craftsmanship and authenticity in their culinary experiences, seeking premium ingredients and artisanal techniques. This trend is particularly evident in the icing and frosting market, where the emphasis on handcrafted, small-batch products has gained traction. Home bakers and consumers alike are drawn to the allure of unique flavors, textures, and visual appeal offered by premium and artisanal icing options.
The demand for premium and artisanal offerings is closely linked to the desire for a more indulgent and sophisticated baking experience. As consumers seek to elevate their homemade treats to a higher culinary standard, there is a growing interest in icing and frostings that go beyond basic functionality. Premium options often include unique flavor profiles, such as exotic extracts, high-quality chocolates, and natural ingredients, providing consumers with a more refined and indulgent palette. The trend of premium and artisanal offerings aligns with the broader movement of consumers viewing baking as a form of self-expression and creativity.
The market is witnessing an increase in specialty and gourmet icing and frosting options, both online and in convenience stores. Manufacturers are responding to the trend by introducing exclusive lines catering to consumers looking for distinctive, high-end products. This diversification of product offerings allows consumers to choose from a range of premium options, enabling them to customize their baked goods with artisanal flair. The market's response to this trend reflects a recognition of the growing demand for products that offer a premium sensory experience.
The rise of premium and artisanal offerings in the icing and frosting market is closely tied to evolving consumer perceptions of quality. Consumers are willing to pay a premium for products that convey a sense of exclusivity and superior craftsmanship. The inclination toward premium offerings creates new opportunities for manufacturers to differentiate their products in a competitive market. As consumers increasingly prioritize quality over quantity, the icing and frosting market is witnessing a transformative shift toward more refined and artisanal options that cater to the discerning tastes of a growing segment of consumers.
On the contrary, the increase in sales of bakery products from restaurants and bakery stores hamper the growth of North America icing and frosting market.
Based on type, the North America icing and frosting market is bifurcated into icing and frosting. The frosting segment held 65.5% market share in 2022, amassing US$ 952.97 million. It is projected to garner US$ 1,203.67 million by 2030 to register 3.0% CAGR during 2022-2030.
In terms of category, the North America icing and frosting market is segmented into gluten-free and conventional. The conventional segment held 70.0% share of North America icing and frosting market in 2022, amassing US$ 1,018.51 million. It is anticipated to garner US$ 1,272.41 million by 2030 to expand at 2.8% CAGR during 2022-2030.
By distribution channel, the North America icing and frosting market is divided into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment held 50.0% share of North America icing and frosting market in 2022, amassing US$ 727.84 million. It is projected to garner US$ 929.41 million by 2030 to expand at 3.1% CAGR from 2022 to 2030.
Based on country, the North America icing and frosting market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 72.3% share of North America icing and frosting market in 2022. It was assessed at US$ 1,052.51 million in 2022 and is likely to hit US$ 1,331.89 million by 2030, registering a CAGR of 3.0% during 2022-2030.
Key players operating in the North America icing and frosting market are Wilton Brands LLC, Wilton Brands LLC, Conagra Brands Inc, Dr. Oetker (UK) Ltd, Dixie's Cakes and More Inc, Cake Craft Factory LLC, The Pillsbury Co LLC, Rich Products Corp, The Purple Mixer Inc, and The Simple Kitchen Oakville Inc., among others.
- In January 2021, Betty Crocker, a brand of General Mills Inc., launched Dunkaroos Frosting. The Dunkaroos Frosting, Cupcake, and Giant Cookie Kits have been available at grocery retailers across the US since February 2021. The company has also launched its lineup of products, such as Reese's Pieces Surprise Cupcake Kit, Hershey's Kisses Blossom Cookie Kit, Giant Cookie Kit, Lemon Cookie Mix, and the frosting.
- In February 2022, Duncan Hines, a Conagra Brands brand, partnered with The Birthday Party Project, a non-profit organization that helps children experiencing homelessness celebrate birthdays. The company is launching a new JOYfetti Cake Mix in stores in June, featuring a contemporary and playful confetti cake. The mix is perfect for birthday festivities or any occasion worth celebrating. The Birthday Party Project has helped 25,000 kids celebrate their birthdays, and Duncan Hines' annual monetary and product donations will help even more children celebrate their birthdays.
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