Market Overview:
The Ice Cream Market size is expected to grow from USD 73.61 Billion in 2022 to USD 92.31 Billion by 2030, at a CAGR of 2.87% during the forecast period.
Ice cream can be described as a frozen dairy dessert made from a mixture of milk products, sweetening materials, stabilizers, flavors, and colors, which is frozen with continuous agitation. Since its origins in Europe, ice cream has consistently held its position as a sought-after indulgent dessert among consumers. However, the significant transformation and development of ice cream began in the United States, where it evolved into a highly profitable industry.
Today, ice cream stands as one of the most popular desserts worldwide and has undergone numerous modifications by industry leaders. They have introduced luxurious textures and an array of exciting flavors, elevating the appeal of this frozen treat.
Top Key Players in Ice Cream Market:
Blue Bunny (US), Dreyer's (US), Bluebell (US), Froneri International (UK), Tillamook. (US), Inspire Brands Inc. (US), Ramar Foods International (US), Ashby's Sterling Ice Cream (US), Talenti (US), Nestlé S.A. (Switzerland), Magnum (Unilever) (Denmark), Häagen-Dazs (US), Chapman’s Ice Cream (Canada), Ben & Jerry's (US) Carte D’Or (UK), Cold Stone Creamery (US) and Other Major Players.
Market Dynamics and Factors for the Ice Cream Market:
Drivers:
The Rising Popularity of the Product Among the Population and the Production of Ice Cream Using Healthy, Exotic, And Functional Ingredients
Ice cream has long been a favorite dessert among consumers worldwide. Its creamy and indulgent taste, along with a wide range of flavors, appeals to people of all ages. Moreover, ice cream is often associated with happy moments and social gatherings, making it a popular choice for celebrations and treats.
In response to changing consumer preferences and growing health consciousness, ice cream manufacturers are incorporating healthier and exotic ingredients into their products. This includes using natural sweeteners, reducing sugar content, and incorporating fruits, nuts, and superfoods to add nutritional value and unique flavors. Functional ingredients, such as probiotics or protein-enriched variants, are also gaining traction among health-conscious consumers.
Opportunities:
Continuous Introduction of Innovative Products and Flavors in The Market
Innovative products and flavors have a unique appeal to consumers, piquing their curiosity and encouraging them to try new offerings. This novelty factor can lead to increased sales and a larger customer base.
Introducing innovative ice cream products and flavors allows companies to diversify their product portfolios. By offering a wide range of options, manufacturers can cater to different consumer preferences and target various market segments effectively.
Segmentation Analysis of the Ice Cream Market:
- By Type, the Take-Home Ice Cream segment had the largest market share. Take-home ice cream refers to packaged ice cream products that consumers purchase from retail stores to enjoy at home. These products are typically sold in various formats, including tubs, pints, and family-sized containers.
- By Flavor, Vanilla is likely to dominate in this area. Vanilla plays a pivotal role in the Ice Cream Market, being one of the most popular and timeless ice cream flavors.
Regional Analysis of the Ice Cream Market:
The Global Ice Cream Market is led by North America, holding the largest revenue share. This dominance can be attributed to the presence of major industry players operating in North American countries. Furthermore, the market is experiencing significant growth due to the rising demand for frozen treats and desserts, especially among the millennial population in the region. One of the key drivers is the increasing disposable income of the North American population, which allows consumers to indulge in premium ice cream products.
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
Key Industry Development:
In October 2022, ASAP.com, the on-demand delivery brand for Waitr Holdings Inc. announced a new national partnership with Unilever, one of the world’s leading suppliers of ice cream products, including Ben & Jerry’s, Breyers, Good Humor, Magnum ice cream, and more.
In August 2022, Ramar Foods introduced its newest frozen dessert line, Magnolia Bliss. With the launch of a new product line, Ramar Foods broadens its flavor offerings, the organization has made Magnolia Bliss with the goal to provide a healthier option to satisfy their customers' cravings while enjoying their favorite Filipino ice cream flavors.
