Ice Cream Market – Size, Outlook, Trends and Forecast (2024

Ice Cream Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Ice cream is a very cold sweet food which is made from frozen cream or a substance like cream and has a flavour such as vanilla, chocolate, or strawberry. It is served as dessert and loved by the all age group people. The innovative flavours that companies have come up with act as a major driver for this market. Also, private label ice-creams are cheaper, thereby growing the demand. The emergence of private label brands, such as Kroger, which has helped in establishing a market presence. The rise in demand for ice cream products from consumers above the age of 50 is another factor that contributes to the growth of the market. The availability of lactose-free ice creams is expected to enhance the ice cream market. Consumption of lactose causes several problems, such as gas, the bloating, and diarrhoea. This resulted in several ice-cream manufacturers formulating their lactose-free ice creams to cater to the niche market of lactose-intolerant consumers.

Ice Cream Market Segments Size & Growth:

Global Ice Cream Market is accounted as USD 78.35 billion in 2017 and expected to grow at a CAGR of 5.21% to reach 90.15 billion by 2024 during the forecast period 2018-2024. There are key drivers who are driving the growth of this market. Indulgence-Driven Demand, Emerging markets drives impulse ice cream to become the largest subcategory, but demand for take-home varieties is also rising fast outside the developed world. A range of positive macroeconomic factors, such as infrastructural developments, contribute to the dynamic growth, but the high demand for indulgence and affordable luxury are key to growth globally. Growing demand for clean label drives the market. So demand for the clean label is increasing which leads to having growth in ice cream market. Rising Consumer disposable income is another driving factor

Ice Cream Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

for ice cream market. People standard of living is increased. People are more interested in buying the dessert type, which in turn fuels the growth for this market.

One of the major restraints for this market is product seasonality which hinders the market growth. It is mostly consumed during the summer season. So in winter season people are less interested in consuming this kind of dessert which is a disadvantage for this market. Another major restraint is a health concern. As ice cream contains more calorie people, who are more concerned about their health less likely to have this.

In developing region growing taste for exotic variation will lead to the path for this market. As the number of variables is increased people are more keen to buy this kind of products.

Ice Cream Market Share:

Regarding geography, the market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and South America. Asia-Pacific is expected to have the highest growth rate, owing to rise in demand from the emerging economies such as India, China, Indonesia, and others. Moreover, increased in disposable income and raised in the standard of living fuels the market growth. India and China are projected to have significant growth during the forecast period. The growing number of lactose-intolerant buyers in North America is expected to change the scenario of the North American ice cream market as only a few numbers of manufacturers have lactose-free ice creams in their product catalogue.

Regarding sales, the market is segmented as Impulse Ice Cream, take-home ice cream, artisanal ice cream. By distribution channel market the market is segmented as follows.

Supermarket/Hypermarket
Convenience Stores
Ice Cream Parlor
Online
Others

Regarding product type ice cream market is segmented into the recipe which is further segmented into

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Ice Cream Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

ordinary, French, reduced fat, light, no sugar added, lactose-free, gluten-free, organic ice cream.

Ice cream market industry is segmented by shape as well. This can be stated as sticks, buckets, sundae, float, frozen

Ice Cream Market Trends:

Nestlé acquired a majority interest in Latin American company Terrafertil
Jan 16, 2018, Nestlé Agreed to Sell U.S. Confectionery Business to Ferrero for $2.8 billion.
Jan 31, 2018, Unilever acquired Betty Ice SRL, the Romanian Ice Cream Producer. The value of the transaction is not disclosed.
Dec 12, 2017 Unilever acquired Mae Terra.
Dec 5, 2017, Nestlé extends consumer healthcare portfolio by agreeing to acquire Atrium Innovations

Ice Cream Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOTanalysis, and Y-o-Y analysis were carried out to understand the market more comprehensively.
Regional and Global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROCin the current market and their impact in altering the market dynamics
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

Major Key players are as follows.

Amy’s Ice Creams
Baskin- Robbins
Unilever
General Mills (Häagen-Dazs)
Lotte Confectionary
Dean Foods

Along with these companies, there were many other companies considered/cited in the report while analysing the Ice Cream market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.

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