Blue Bell Creameries was named as one of the top vendors in the U.S. ice cream market, according to a new report from technology research and advisory company Technavio.
Along with the Brenham, Texas-based vendor, the firm listed Ben & Jerry’s, Nestle USA, Turkey Hill, Unilever USA, and Wells Enterprises, to round out the top six.
According to the report, the ice cream market in the U.S. is subject to rapidly changing consumer demands and preferences. Vendor performance in the market will be affected by the changing consumer spending pattern as well as consumer tastes, demographic trends, and regional, national, and local economic conditions.
“The changing economic conditions are affecting customers’ living standards and can also affect vendors’ businesses. The vendors in the market compete on the basis of numerous factors such as price, quality, innovation, service, reputation, distribution, and promotion,” said Vijay Sarathi, a lead analyst at Technavio for the food research industry.
Increased competition could lead to vendors reducing their product prices, which thus negatively affecting vendor margins and market growth. Further, any technological advances by any player in the market can render other vendor products “obsolete or uneconomical,” the report stated.
Other prominent vendors in the market include Amy’s Ice Creams, Bliss Unlimited, Marina Ice Cream, Mikawaya, Oregon Ice Cream, Rich Ice Cream, So Delicious Dairy Free, Three Twins Ice Cream, Tillamook, and Weight Watchers International.
Technavio’s market research analyst predicts the ice cream market in the U.S. to grow at a modest Compound Annaul Growth Rate (CAGR) of around 2% by 2020. Growing consumption of take-home ice-cream products is the primary growth driver.