Ice Cream Market Outlook
According to the report by Expert Market Research (EMR), the global ice cream market size attained a value of USD 83.24 billion in 2023. Aided by the introduction of new flavours and growing demand for premium and artisanal ice cream, the market is assessed to grow at a CAGR of 4.3% between 2024 and 2032, reaching almost USD 121.94 billion by 2032.
Ice cream is a popular frozen dessert made from a mixture of dairy products, such as milk and cream, combined with sweeteners, flavourings, and stabilisers. The mixture is churned and aerated to create a smooth and creamy texture, then frozen to maintain its form and consistency. Ice cream comes in a wide variety of flavours and styles, catering to diverse tastes and dietary preferences.
The global ice cream market is experiencing dynamic growth and diversification, influenced by a variety of factors, including changing consumer preferences, innovations in product development, and the increasing demand for premium and health-conscious options. This market, characterised by its wide appeal across all age groups and geographies, is evolving rapidly to meet the needs of a more discerning and health-aware consumer base.
One of the most prominent trends propelling the global ice cream market is the growing demand for premium and artisanal ice cream. Consumers are increasingly willing to pay a premium for high-quality products that offer unique flavours, superior ingredients, and artisanal craftsmanship. This trend is particularly strong in developed markets where there is a higher disposable income and a greater appreciation for gourmet food experiences. Artisanal ice creams often emphasise natural ingredients, minimal processing, and creative flavour combinations, appealing to consumers seeking both indulgence and authenticity. Brands that can deliver on these aspects are seeing significant growth and consumer loyalty.
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Health and wellness trends are significantly influencing the global ice cream market growth as consumers become more conscious of their dietary choices. There is a growing demand for ice creams that cater to various health needs, including low-calorie, low-sugar, dairy-free, and plant-based options. This shift is driven by the rising awareness of health issues such as lactose intolerance, diabetes, and the desire for weight management. Manufacturers are responding by developing products with reduced fat and sugar content, incorporating functional ingredients like probiotics, and offering vegan alternatives made from almond milk, coconut milk, or oat milk. This trend towards healthier options is broadening the market’s appeal to a wider range of consumers, including those who may have previously avoided ice cream due to dietary restrictions.
Technological advancements are playing a crucial role in the global ice cream market evolution. Innovations in production techniques and ingredient sourcing are enabling manufacturers to create more diverse and high-quality products. For example, advancements in freezing technology and emulsification processes are improving the texture and consistency of ice cream, while new flavour extraction methods are allowing for more intense and natural flavours. Additionally, the use of data analytics and artificial intelligence is helping companies understand consumer preferences better and tailor their product offerings accordingly. This integration of technology is not only enhancing the product quality but also streamlining the manufacturing process and reducing costs.
Sustainability and ethical considerations are increasingly gaining prominence, boosting the ice cream market growth. Consumers are becoming more environmentally conscious and are looking for brands that align with their values. This has led to a rise in the popularity of ice creams made with sustainably sourced ingredients, eco-friendly packaging, and ethical business practices. Companies are adopting various strategies to address these concerns, such as using biodegradable or recyclable packaging materials, sourcing ingredients from fair-trade suppliers, and reducing their carbon footprint through sustainable production methods. Brands that can demonstrate a commitment to sustainability and social responsibility are gaining a competitive edge in the market.
The global ice cream market is seeing significant regional growth and market expansion, particularly in emerging economies. The Asia Pacific, Latin America, and the Middle East are experiencing robust growth due to increasing urbanisation, rising disposable incomes, and the influence of Western dietary habits. In these regions, the growing middle class is driving demand for both traditional and premium ice cream products. Additionally, the expansion of retail networks and the increasing availability of refrigeration infrastructure are making ice cream more accessible to a broader population. Companies are capitalising on these opportunities by introducing region-specific flavours and products that cater to local tastes and preferences.
The rise of e-commerce and digital marketing is transforming the ice cream market value, providing new avenues for growth and consumer engagement. Online platforms are becoming important sales channels, allowing consumers to purchase their favourite ice cream brands from the comfort of their homes. The convenience of home delivery, coupled with the ability to discover new products online, is driving the growth of ice cream sales through e-commerce. Furthermore, digital marketing strategies, including social media campaigns, influencer partnerships, and targeted advertising, are helping brands connect with consumers on a more personal level. These digital initiatives are enhancing brand visibility, fostering consumer loyalty, and driving sales.
Customisation and personalisation are emerging as key ice cream market trends as consumers seek unique and personalised experiences. Many brands are offering customisable ice cream options, allowing consumers to choose their base flavours, mix-ins, and toppings. This trend is particularly popular in retail settings, where consumers can create their own ice cream sundaes or milkshakes. Additionally, the use of digital platforms is enabling brands to offer personalised recommendations based on consumer preferences and purchasing history. This focus on customisation and personalisation is enhancing the consumer experience and driving engagement with ice cream brands.
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Ice Cream Market Segmentation
The global ice cream market can be divided based on flavour, category, product type, end-use, sales channel, and region.
Market Breakup by Flavour
- Chocolate
- Fruit
- Vanilla
- Others
Market Breakup by Category
- Impulse Ice Cream
- Take-Home Ice Cream
- Artisanal Ice Cream
Market Breakup by Product Type
- Cup
- Stick
- Cone
- Brick
- Tub
- Others
Market Breakup by End-Use
- Food Service
- Retailers
Market Breakup by Sales Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Ice Cream Parlours
- Hotels and Restaurants
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global ice cream market. Some of the major players explored in the report by Expert Market Research are as follows:
- Unilever plc
- General Mills, Inc.
- Ashby’s Ice Cream
- Tillamook County Creamery Association
- Gujarat Cooperative Milk Marketing Federation Limited (Amul)
- Turkey Hill Dairy
- HP Hood, LLC
- Wells Enterprises, Inc
- Dairy Farmers of America, Inc.
- Nestlé S.A.
- Lotte Confectionary Co, Ltd
- The Kroger Company
- Meiji Holdings Co, Ltd
- Danone S.A.
- Others
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