Ice Cream Market Size to grow by USD 29.58 billion between 2024-2028
According to a research report “ Ice Cream Market” by Product (Impulse, Take home, Artisanal) Type (Dairy, Non-dairy) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 29.58 billion, at a CAGR of 5.99% during the forecast period. In the global food industry, food waste is a significant concern for many countries, with the Food and Agriculture Organization of the United Nations reporting that approximately one-third of the world's food production, equating to 1.3 billion tonnes, is wasted annually. This issue poses a substantial financial loss for retailers, particularly in the case of perishable goods such as ice cream, yogurt, and gelato. To mitigate this challenge, vendors have implemented various strategies to enhance their profitability and preserve product quality. These strategies include investing in advanced technology and developing innovative solutions for extended shelf life, thereby driving the growth of the global ice cream market. Manufacturers are increasingly focusing on research and development to create products that enable efficient long-term storage while maintaining freshness..
Browse market data tables, figures, and in-depth TOC on “Ice Cream Market” by Product (Impulse, Take home, Artisanal) Type (Dairy, Non-dairy) Geography (North America, APAC, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Product, the Impulse segment is projected to dominate the market size in 2024
In the ice cream market, impulse purchases refer to the unplanned acquisition of small-portion treats, such as ice cream bars, sandwiches, lollies, cones, cups, and sticks. These products cater to consumers' cravings for indulgence and the increasing demand for convenient snacking options. Key market players are responding to this trend by launching new products and introducing innovative flavors to their product lines. To capture the attention of consumers and boost sales, these vendors are also implementing strategic marketing campaigns. The impulse ice cream market is expected to grow significantly during the forecast period due to these factors.
By Type, Dairy segment is expected to hold the largest market size for the year 2024
The dairy-based ice cream sector represents a substantial segment within the global ice cream market, characterized by its luxurious texture and robust flavor profile, derived primarily from milk, cream, sugar, and various flavorings. Dairy ingredients contribute to the category's signature smooth consistency, enhancing the indulgent and satisfying experience synonymous with traditional ice cream. Notable industry players, including Nestle SA and Unilever PLC, dominate the dairy-based ice cream segment. Nestle SA, a leading multinational food and beverage corporation, offers an extensive range of premium dairy-based ice creams under renowned brands, such as Haagen-Dazs and Nestle Ice Cream.
North America is forecasted to hold the largest market size by region in 2024
The North American ice cream market is experiencing significant growth, with the US leading the charge as the largest market in terms of revenue in 2023. Factors driving this expansion include an increasing number of new product launches and substantial investments from market participants. In response to evolving consumer preferences, suppliers are expanding their production capacities in North America to meet the rising demand for ice cream. Additionally, the trend towards healthier options is influencing the market, with a growing demand for low-fat and plant-based ice cream products.
The Ice Cream Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The ice cream market is a vibrant and ever-evolving industry, offering a wide range of delicious and innovative flavors to satisfy consumers' sweet cravings. Some popular ice cream flavors include Orange Chocolate, Natural's Ice Cream's Blueberry Cheesecake, Exotic Strawberry from Keventers, Triple Chocolate, Alphonso Mango, and Belgian Chocolate. New companies are constantly entering the ice cream category with unique offerings, such as herbal and organic flavors, functional ingredients like plant sterols and lecithin, and frozen desserts that cater to health consciousness. Dairy brands dominate the market, but there's also a growing demand for dairy-free and vegan options. Premium ice creams continue to be a favorite, with impulse ice creams, pops, sandwiches, and cones also popular choices. Innovative flavors like Saffron Cardamom and Lavender Honey are gaining traction among consumers looking for exotic and unique experiences. The ice cream market is truly a delight for those with a sweet tooth, offering a diverse range of products to suit all tastes and dietary needs.
Market Research Overview
The global ice cream market is a delightful world of endless flavors, textures, and indulgence. From the classic vanilla to the latest exotic fusions, the industry caters to diverse tastes and dietary needs. Ice cream's popularity spans various sectors, including lounges, cafes, and restaurants, where it's often enjoyed as a dessert or an accompaniment to meals. The flavor segment is vast, with dairy brands like Magnum leading the way. However, new companies are innovating with vegan segment offerings, addressing food allergies and health consciousness. Europe dominates the market, with its rich history of ice cream-making traditions. Convenience is a significant factor driving product demand. Ice creams come in various forms - popsicles, bars, sundaes, and even ice cream sandwiches. Some brands focus on premium ingredients, such as Belgian Chocolate or Alphonso Mango, while others offer natural, organic, or functional ingredients like herbal flavors, plant sterols, or lecithin. Transport requirements and refrigeration capabilities are essential considerations for ice cream manufacturers. Automotive components and energy usage are crucial aspects of logistics and storage costs. Despite these challenges, the market continues to grow, fueled by the demand for innovative flavors like Orange Chocolate, Blueberry Cheesecake, Exotic Strawberry, Triple Chocolate, and more. The ice cream category is vast and ever-evolving, with new companies entering the scene and pushing the boundaries of what an ice cream can be. Whether it's a classic fudge sundae or a modern vegan popsicle, the ice cream market has something for everyone.
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