The ice cream market size is expected to see strong growth in the next few years. It will grow to $54.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to plant-based and alternative ingredient, health-conscious choices, premiumization, personalization trends, sustainability practices, innovative textures and formats. Major trends in the forecast period include innovative flavors and combinations, functional and nutrient-enhanced ice cream, sustainable practices and packaging, local and artisanal focus, indulgent and premium offerings, online and direct-to-consumer sales.
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Scope Of Ice Cream Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Ice Cream Market Overview
Market Drivers –
Increasing consumer expenditure on fast food is expected to propel the growth of the ice cream market going forward. Consumer expenditure on fast food is the total amount of money spent by individuals and families on fast food items. Fast food and ice cream are both considered indulgent and handy meal alternatives that cater to similar customer tastes. Fast food restaurants frequently provide ice cream as a dessert option, making it easy for customers to include it in their purchases. Additionally, the growing café culture among millennials has boosted consumer spending on fast food. For instance, in September 2022, according to a report published by the US Bureau of Labor Statistics, a US-based agency that measures labor market activity, working conditions, and price changes in the economy, in the United States, the average expenditure on food away from home in 2020 was $2375, rising to $3030 in 2021, reflecting a 27.6% rise. Therefore, the increasing consumer expenditure on fast food will drive the fast food market.
Market Trends –
Product innovations are a key trend gaining popularity in the ice cream market. Major companies operating in the ice cream market are focused on developing innovative products to strengthen their position in the market. For instance, in January 2022, Magnum, a Denmark-based Belgian brand of ice cream, launched a mini-sized multi-pack of vegan ice creams in addition to a new and enhanced recipe for its vegan line of ice cream that is available in two popular vegan flavors: magnum vegan classic and magnum vegan almond. The new line provides all the richness and pleasure of a vegan magnum, the quality and flavor of which has earned the PETA Vegan food award. The smooth ice cream is created from pea protein and flavored with high-quality Madagascan vanilla, providing a wonderful combination to the tastebuds with an exquisite creamy sensation without the use of dairy components.
The ice cream market covered in this report is segmented –
1) By Type: Impulse Ice Cream, Take-home Ice Cream, Artisanal Ice Cream
2) By Flavor: Vanilla, Chocolate, Fruit, Other Flavors
3) By Packaging: Cup, Cone, Stick, Brick, Tub, Other Packaging
4) By Category: Dairy, Non-dairy
5) By Distribution Channels: Hypermarket Or Supermarket, Ice cream Parlor, Online Retailer, Other Distribution Channels
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Regional Insights –
Asia-Pacific was the largest region in the ice cream market in 2023. Asia-pacific is expected to be the fastest-growing region in the ice cream market report during the forecast period. The regions covered in the ice cream market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the ice cream market report are Nestle S.A., Unilever Group Plc, General Mills Inc., Blue Bell Creameries LP, Cold Stone Creamery Inc., American Dairy Queen Corporation, Danone S.A., Lotte Confectionery Co.Ltd., Inspire Brands Inc., Dairy Farmers of America Inc., Turkey Hill Dairy LP, Wells Enterprises Inc., NadaMoo! R&D Room LLC, Mars Inc., Inner Mongolia Yili Industrial Group Co. Ltd., Froneri International Limited, Tilamook CCA, Amul, Amy’s Ice Creams, Agropur Dairy Cooperative, Arla Foods AMBA, Chapman’s, Prairie Farms Dairy Inc., Giffords Dairy Inc., Van Leeuwen Ice Cream, Adirondack Creamery Inc., Yasso Inc., Graeter’s Ice Cream, Jeni’s Splendid Ice Creams, Humphry Slocombe, Coolhaus, Ben & Jerry’s Homemade Holdings Inc., Häagen-Dazs, Baskins Robbins
Table of Contents
1. Executive Summary
2. Ice Cream Market Report Structure
3. Ice Cream Market Trends And Strategies
4. Ice Cream Market – Macro Economic Scenario
5. Ice Cream Market Size And Growth
…..
27. Ice Cream Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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