The Ice Cream Industry of Australia is scooping up Profits : Ken Research
INVC NEWS New Delhi, Ken research announced recent publication titled 'Consumer and Market Insights: Ice Cream in Australia'. The report provides detailed account about the overall market and volume data with growth analysis of 2010-2020, categorical coverage of the volume and growth analysis of each type of ice cream with inputs on individual segment share within each category and the change in their market share forecast for 2015-2020. The report further contains details about the distribution data i.e. Percentage of sales within each category through distribution channels such as Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, On-trade and others in 2015. The economy is dominated by the service sector however economic growth is largely driven by mining industry and agricultural sector. The nation is gradually aging as about 15% of people are above the age of 65 years. The ice cream industry of Australia is scooping up profits. The multimillion dollar industry, especially the premium industry market is growing up rapidly as the people are willing to shell out top dollar for just desserts. As the people are viewing ice cream as affordable luxury item, the small ice cream manufactures are getting a sizable slice in the several million dollar profit margin. The niche operators that provide premium ice cream and gourmet gelato have seen great success. The supermarket and grocery stores contribute to most of the sales and gelato and ice cream shops have been hugely benefited from establishing themselves at the premium end of the market. The operators that have been properly able to replicate the ice cream quality from abroad have seen the biggest success. Such products are usually homemade and have the required quality that the customers want, thus consumers are willing to pay the premium prices, which has increased the revenue of this sector considerably . Further, the local products have been immensely benefited from the trust placed in the quality of the ‘made in Australia’ tag. Consumers are attracted by the presence of varied blends and flavor, compelling them to shell out extra money. The Australasian Food Group continued to lead the ice cream industry of the .It’s success is attributed to the solid hold of its major brands across most of categories of ice cream. The brands such as Fandangles range and the Connoisseur brand attract the masses by being a premium and indulgent brand of ice cream. To expand its consumer base, the company has started to offer ice cream desserts by launching Premiere Desserts brand towards the end of the review period. The desserts have two flavors - Salted Caramel and Chocolate Hazelnut and are placed under the premium range. The company in order to indulge the health conscious people has also launched coconut water-based range under its Frosty Fruits brand. The ice cream industry is capital intensive industry. The intensity of the capital investment varies among different industry players. The large industry players have to invest heavily on the automated equipment and technology mix, measure and freeze in ice cream products. Equipment's are rather important as they make the industry process more efficient by reducing the reliance on labour and marginal cost.