In a unique look encompassing the entire 2023 period, as opposed to a specific 52-week period we often present, Chicago-based research firm Circana data reveals novelty sales were not red hot, but held up adequately compared to the prior year.
Altamont is partnering with the CEO and Founder of Mini Melts USA, Dan Kilcoyne, to provide growth capital to support the ongoing expansion of the company's distribution footprint and manufacturing capabilities. Kilcoyne will remain CEO.
January 9, 2024
Altamont Capital Partners takes stake in the company.
The ongoing COVID-19 pandemic has many consumers reaching for small indulgences to brighten their days. That reality has been a boon to the frozen novelties category, which Chicago-based market research firm IRI breaks into three subcategories: frozen novelties, ice cream/ice milk desserts and ice pop novelties.
The "one armed bandit" brought some good news and some bad news to the ice cream and frozen novelty segment in the past year. The good news? Frozen novelties saw a pretty payout, with dollar sales rising 4.2% to $4,906.3 million during the 52 weeks ending Aug. 11, 2019, according to data from Chicago-based market research firm IRI.
The competition among ice cream brands remains fierce, as some scramble to answer the call for "healthy indulgence" and others seek to grab attention with unique flavors and premiumization.
Ice cream sales have been ticking up, showing some promise in the ever-competitive category. Sales of frozen novelties, meanwhile, have not been faring as well. Unit sales have been falling, and dollar sales have been nearly frozen.