Industry Overview:

According to the latest report by IMARC Group, titled “Ice Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global ice cream Industry size reached US$ 70.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 94.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.14% during 2023-2028.

Ice cream is a milk-based frozen dessert that is a rich source of calcium, folate, thiamine, niacin, phosphorus, riboflavin, and vitamins A, C, D, E, K, B-6 and B-12. It commonly involves the use of cream, sugar, sweeteners, food colorings, butterfat, eggs, fruits, and artificial or natural flavorings in its preparation. Having a smooth and creamy texture, it is widely available in numerous flavors, including vanilla, chocolate, strawberry, butterscotch and chocolate chip and can be stored in a refrigerator over an extended period of time.

Global Ice Cream Market Trends:

The global market is majorly driven by the increasing uptake of convenience foods, including ice creams, by the masses. This is supported by rapid urbanization, the inflating disposable income levels of individuals and their shifting dietary preferences. There has also been a rise in the preference for online food delivery services across the globe, which has facilitated the sales of desserts and beverages, such as cakes, waffles, milkshakes, sundaes, cold coffee and floats, wherein ice creams are used as an essential ingredient in the preparation. The market is further driven by the introduction of numerous innovative flavors, such as mint chocolate, coffee, cheesecake and tiramisu, that are expected to cater to the diverse taste preferences of the customers. Moreover, several key players have launched healthy low-fat and sugar-free variants in the market. They are also introducing lactose-free ice creams, which are gaining widespread preference among the vegan and lactose-intolerant consumers. In line with this, there has been a considerable rise in the demand for ice creams with natural and organic ingredients, which is also creating a positive outlook for the market. Some of the other factors contributing to the market growth include significant growth in the dairy industry and the escalating preference for premium ice creams among the masses.

Competitive Landscape With Key Players :

Some of the ice cream manufacturers are:

• Unilever
• Nestle
• Inner Mongolia Yili Industrial Group
• General Mills

Key Market Segmentation:

Flavor:

• Vanilla
• Chocolate
• Fruit
• Others

Category:

• Impulse
• Take-Home
• Artisanal

Product:

• Cup
• Stick
• Cone
• Brick
• Tub
• Others

Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience Stores
• Ice Cream Parlors
• Online Stores
• Others

Region:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East and Africa.

Key Highlights of the Report:

• Market Performance
• Market Outlook 
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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