Ice Cream Market

Global Ice Cream Market registered a revenue of USD 62 billion in 2019 and is forecast to witness a healthy CAGR of 2.8% during forecast period (2020-2027), owing to the rising health awareness.

To have an edge over the competition by knowing the market dynamics and current trends of “Ice Cream Market,” request for Sample Report here

Key Drivers and Emerging Trends

The factors driving the global Ice Cream Market includes increasing disposable income, improving living standards, and the growing demand for impulse ice flavours like pops, sandwiches, and cones in emerging countries. Besides, the availability of different flavours in ice creams is likely to expand the market size. With the rising incidences of diabetes, the producers have launched a variety of natural, fat-free, and low calories ice creams, which is forecast to propel the ice cream market. For example, In 2020, Nestle SA introduced a latest collection of ice cream called Heaven, which contains less fat, one-third calorie, and 25% less sugar content than normal ice cream.

Besides, the growing health awareness among individuals has persuaded various government bodies to issue norms pertaining to the labeling, ingredients and manufacturing of ice cream, which will bolster the market growth. For instance, as per the Food Safety and Standards Authority of India (FSSAI) labelling requirements for frozen desserts in 2020, the Food Business Operators (FBOs) are required to mention the amount of vegetable proteins or vegetable fat/oil on the label. Moreover, the presence of high-quality ingredients and lower aeration in premium ice creams over regular ice creams has augmented their consumption, driving the Ice Cream Market share.

However, the high storage costs and logistics needed to maintain the temperature of ice creams might hamper the market growth. In addition, the specially designed automotive components with advanced refrigeration capabilities for transportation of ice creams will further obstruct the market growth. Furthermore, the demand for the product is usually high during summer, but suffer a sharp decline in winter and monsoon, which is another factor hindering the Ice Cream Market size.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Product Segment Analysis:

Artisanal ice cream is projected to witness a higher CAGR over the forecast period, owing to the improving living standards, changing lifestyles, and growing demand for handmade ice cream with high quality ingredients. Besides, the growing demand for artisanal ice cream across the Asia Pacific countries such as India and China because of the rising population with sweet tooth and favorable climatic conditions, will propel the segment’s growth. The increasing inclination of millennials towards snacking at different intervals has augmented the demand for ice creams as a snack food. Moreover, the natural and organic composition and rich nutrition profile has stimulated the demand for artisanal ice creams.

The impulse segment is forecast to lead the ice cream market over the upcoming years, because of the increasing demand for convenient packaging among customers. Furthermore, the advancements in impulse packaging have made it more easy to carry and store driving the market growth. In addition, the growing demand for exotic indulgences and the growing emphasis of manufacturers to produce impulse ice-cream products cost-effectively will further expand the segment’s growth. The increasing adoption of premiumization strategy several leading market players to cater the rising demand for high-quality and clean-labeled impulse ice-cream has strengthened the segment’s growth over the upcoming years.

Type Segment Analysis:

Dairy & water-based segment is expected to lead the ice cream market over the forecast period, primarily because of the rapid urbanization and innovations in technology across the dairy sector in Europe. Further, the growing use of exotic ingredients like skim and whole milk, and flavoring agent is further boosting segment’s growth.

The vegan segment is anticipated to witness a higher CAGR over the upcoming years, because of the growing drift towards veganism aided by the increasing number of food allergies. In 2019, the Food Allergy Research & Education estimated approx. 32 million people suffered from food allergies majorly caused by eggs, fish, and dairy products in the U.S.

Distribution Channel Segment Analysis:

Retail segment is projected to dominate the ice cream market during the forecast period. The rising prominence of sundaes, availability of different flavours and wide variety of products in retail stores has driven the segment growth. Rising mobile adoption and internet penetration, primarily across the emerging economies, has bolstered online sales, which is expected to pave the way for online distribution channel.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional Segment Analysis:

Asia-Pacific is predicted to expand at a faster CAGR over the upcoming years, owing to the rapid urbanization, and accelerating per capita income in countries including China, India, and Thailand. The growing prominence of fast food and a rapid drift towards western cuisine and culture have supported the consumption of the product in Asia Pacific. Leading market players are emphasizing on the acquisition of small local players, driving the regional growth. For instance, in December 2021, Yili Group, China’s leading dairy producer, launched its first phase of the Yili Indonesia Dairy Production Base. The new production base will stand out to be Indonesia’s one of the largest factories, with a production capacity of over four million ice-cream products.

North America is likely to witness a promising growth over the forecast period, due to the rising number of fast-food chains and increasing application of natural ingredients in the production of frozen dairy products. The growing health awareness due to the changing consumption pattern among North American Individuals has paved the way for regional expansion. For instance, 60% of population prefer healthy alternative food items like desserts, confectionery, and ice creams as per the Food Insights survey, May 2021.

The major players in the market include General Mills Inc., Nestle S.A., Mars Incorporated, Blue Bell Creameries, L.P, Lotte Confectionery Co. Ltd, Wells Enterprises, Turkey Hill Dairy, Mihan Dairy & Ice cream Group, and Meiji Holdings Co., Ltd.

Key Development:

• • In 2022, Cold Stone Creamery launched vegan ice cream with almond milk and others to cater to the growing demand for ice cream across the country.
  • In 2021, Unilever introduced frozen dessert treats through its brand i.e., Good Humor, Magnum, Breyers, among others. Through this expansion, the company planned to strengthen its position in the ice cream market.
  • In 2021, Northern Bloc planned to invest USD 1.7 million to increase its production capacity of plant-based dessert, to strengthen the teal and to explore on brand experience across retail sector.
  • In 2021, Nestle invested more than USD 41 million to expand its production capacity of ice cream plant in London.
  • In 2021, General Mills signed an agreement with the Ting Shin Group to expand into lower-tier markets and to boost its product portfolio in China. Through this partnership, the company planned to expand its sales channel in approx. 80 cities for ice cream brand i.e., Häagen-Dazs in China.
  • In 2020, Northern Bloc launched paper-based ice-cream packaging to increase sustainability and reduce the usage of plastic.

The global ice cream market has been segmented on the basis of product and region. Based on product, the market is segmented into impulse, artisanal, and take home.

For detailed scope of the “Ice Cream Market” report request a Sample Copy of the report

Market Segmentation

Global Ice Cream Market by Product

• • Impulse Ice Cream
  • Artisanal Ice Cream
  • Take Home Ice Cream

Global Ice Cream Market by Type

• • Dairy & Water-based
  • Vegan

Global Ice Cream Market by Flavour

• • Chocolate
  • Vanilla
  • Fruit
  • Others

Global Ice Cream Market by Distribution Channel

• • Foodservice
  • Retail

Global Ice Cream Market by Region

• • North America Ice Cream Market (Option 1: As a part of the free 25% customization)

• • • By Product
    • US Market All-Up
    • Canada Market All-Up

• • Europe Ice Cream Market (Option 2: As a part of the free 25% customization)

• • • By Product
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Ice Cream Market (Option 3: As a part of the free 25% customization)

• • • By Product
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

• • RoW Ice Cream Market (Option 4: As a part of the free 25% customization)

• • • By Product
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Ice Cream Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • General Mills Inc.
  • Nestle S.A.
  • Mars Incorporated
  • Blue Bell Creameries, L.P
  • Lotte Confectionery Co. Ltd
  • Wells Enterprises
  • Turkey Hill Dairy
  • Mihan Dairy & Ice cream Group
  • Meiji Holdings Co. Ltd