The Ever-Changing World of Ice Cream
As the world's largest publicly listed ice-cream maker, Magnum is at the forefront of innovation in the industry. From glow-in-the-dark ice lollies to protein-packed ice cream, the company is constantly pushing the boundaries of what is possible.
The ice cream market is a notoriously unpredictable one, with fluctuating commodity and energy prices making it difficult for manufacturers to stay ahead of the game.
According to Georgia Rose, principal analyst at global market research company Kantar Retail IQ, the past five years have been marked by price volatility, impacted by war in Ukraine, Covid, and the cost of living crisis. This has made it essential for ice cream companies to innovate and find new ways to reduce costs.
Refrigeration Innovation
One area where Magnum is focusing its efforts is refrigeration. With three million fridges around the world, the company is using AI to identify products and estimate sales, allowing for more targeted supplies and reduced waste. The fridges themselves have also been made more energy efficient, with those used today being 40% more efficient than those used in 2010.
Asian Inspiration
When it comes to innovation, Asia is leading the way. According to Zbigniew Lewicki, Magnum's chief research, design & innovation officer, the region is home to an incredible intensity of innovation, with countries such as Japan, Korea, and China driving trends and growth.
The inspiration and trends come from the East, with Asia being the centre of ice-cream innovation.
This has led to the creation of unique and exciting products, such as Volcanics, which features a chocolate shell, biscuit pieces, chocolate and vanilla ice cream layers, and a caramel lava centre.
Experimenting with Flavors
The ice cream market in Asia is also characterized by a willingness to experiment with new and unusual flavors. From ham and pickled garlic to tahini and stinky tofu, the options are endless.
The ability to think beyond traditional Western flavors has led to a new era of experimentation and innovation in the ice cream market.
Health-Conscious Options
In addition to unique flavors, there is also a growing trend towards health-conscious ice cream options. Products with added health benefits, such as protein, are becoming increasingly popular.
Consumers are choosing high-quality, smaller portions, and are willing to pay more for products with extra benefits.
With the rise of protein-packed ice cream, companies such as David Protein are offering products with up to 20g of protein per serving. While these products may come at a higher price point, they are proving to be a hit with consumers.
The Future of Ice Cream
As the ice cream market continues to evolve, it will be exciting to see what the future holds. With companies such as Magnum pushing the boundaries of innovation, we can expect to see even more unique and exciting products in the years to come.
The future of ice cream is looking bright, with a focus on innovation, sustainability, and customer satisfaction driving growth and development in the industry.