This week, research firm Packaged Facts released the 9th edition of its Ice Cream and Frozen Desserts in the US report. The report reveals that the ice cream category has experienced stagnant growth in previous years due to a lack of innovation. However, products that bear a “free-from” label (i.e. soy-free, dairy-free, etc.) have greatly contributed to revitalizing ice cream sales, as consumers seek frozen desserts that are in-line with specific dietary preferences. “Despite the maturity of the ice cream market,” Packaged Facts research director David Sprinkle says, “a lot is happening in terms of new product trends and corporate development.” Packaged Facts predicted that the current ice cream industry is valued at about $28 billion and predicted it would grow through 2020. From the corporate perspective, companies such as Ben & Jerry’s have capitalized on the profit potential in this segment of the industry by developing an almond milk-based ice cream line—to which it added two new flavors this week.

Photo coutesy of Sweet Ritual