Ice Cream Market
The Ice Cream Market is anticipated to expand at a significant CARG during the forecast period (2020-2027).
The factors driving the growth of Ice Cream Market includes growing demand for impulse Ice cream flavors such as cones, sandwiches, and pops, increasing availability of different flavors of ice cream at online platforms and rise in the sales of frozen desert products around the world. According to the report published by Statista, the Global Frozen Desert Market was estimated around USD 78 billion in 2021 and is predicted to reach USD 102 billion by the end of 2026, which will boost the Ice Cream Market Growth in the approaching years. Moreover, the growing popularity of sugar-free ice, rise in the launches of innovative products, growth in the number of ice-cream parlors and fast-food joints and increasing adoption of advanced technologies by ice manufacturers, are some of the additional factors supplementing the Global Ice Cream Market Size. In addition, the increasing investments by leading players on research and development, rapid urbanization, rising population growth rates, improvements in the living standards and growing disposable incomes, are further accelerating the Ice Cream Market Share.
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However, the growth of Ice Cream Market is hindered attributed to high storage and logistics cost of ice creams.
The major players operating in the market are Wells Enterprises, Turkey Hill Dairy, Mihan Dairy & Ice cream Group, General Mills Inc., Nestle S.A., Mars Incorporated, Meiji Holdings Co., Ltd., Blue Bell Creameries, L.P and Lotte Confectionery Co. Ltd, among others.
Based on Product, the Artisanal Ice Cream segment is predicted to expand at a significant CAGR during the forecast period
Rise in the demand for hand-made ice creams around the world along with low-fat and sugar free properties of artisanal ice creams, are the factor augmenting the segment’s growth.
Based on Type, the Dairy & Water-based segment is projected to capture the largest market share over the forecast period
Rise in the use of exotic ingredients such as skim milk and sweetening & flavoring agent in the production of ice creams, are some of the factors responsible for the segment’s growth.
By Region, Asia-Pacific region is estimated to grow at a remarkable CAGR during the forecast period
As per the Ice Cream Market Analysis, rise in the number of ice cream parlors and ice cream vendors, growing presence of domestic companies, easy availability of frozen dairy products at online platforms, increasing influence of western culture on Asian society and rapid urbanization, are some of the important factors propelling the market growth in Asia-Pacific.
Key Developments:
- In 2021, General Mills entered into a merger agreement with Ting Shin Group to expand its product offerings in the Chinese Market.
- In January 2020, Northern Bloc. Introduced its plastic-free ice-cream packaging to promote the use of plastic free packaging.
- In 2021, Unilever launched variety of new products frozen desert products under its brands such as Breyers, Good Humor, and Talenti.
Market Segmentation
Segmentation by Product
- Impulse Ice Cream
- Artisanal Ice Cream
- Take Home Ice Cream
Segmentation by Type
- Dairy & Water-based
- Vegan
Segmentation by Flavour
- Chocolate
- Vanilla
- Fruit
- Others
Segmentation by Distribution Channel
- Foodservice
- Retail
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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