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 market 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.
Global Ice Industry Overview:
Ice cream is a sweet and frozen dessert prepared from a combination of cream, milk, and artificial or natural flavorings. It also contains stabilizers, such as plant-based gums, gluten, and milk proteins, including casein and whey, that absorb the water content and generate micelles that improve the overall consistency. It is a well-balanced, wholesome, easily digestible, and delicious food item, which is also consumed as a meal component. Additionally, it is a rich source of various nutrients, such as calcium, carbohydrates, phosphorous, niacin, riboflavin, thiamine, and vitamins A, C, D, K, E, and B-6. Some popular ice cream variants available worldwide include vanilla, chocolate, butterscotch, strawberry, and butter-pecan.
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What are the Trends in the Ice Cream Industry 2023?
Significant growth in the food and beverage industry is driving the global market. Moreover, several leading players are heavily spending on business expansion across developing countries in an attempt to strengthen their market position, this is creating a positive market outlook. In line with this, the launching of multi-layer flexible containers for ice cream packaging to retain freshness for a longer duration, coupled with the introduction of premium-quality ice creams, is impacting the market favorably. Additionally, continuous improvements in the obsolete chain infrastructure, including temperature-controlled storage areas, procurement of trained operational personnel, and the widespread implementation of effective management practices, are fostering the demand.
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How Profitable is Ice Cream Sales?
Furthermore, continuous developments in organized distribution channels, including hypermarkets and convenience stores and the emerging e-commerce sector, are positively influencing the market. Moreover, several major companies are introducing preservatives, lactose, genetically modified organism (GMOs), dairy and fat-free, and organically made ice-cream variants, which are gaining widespread prominence among the masses. Other factors, including continual technological advancements in the food and beverage sector, extensive research, and development (R&D) activities conducted by key players to enhance nutritional quality, and the advent of home delivery models, are also influencing the market.
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Key Market Segmentation:
Competitive Landscape With Key Players :
Some of the Ice Cream Manufacturing Companies are:
- Unilever
- Nestle
- Inner Mongolia Yili Industrial Group
- General Mills
Breakup by Product:
- Cup
- Stick
- Cone
- Brick
- Tub
- Others
Breakup by Flavor:
- Vanilla
- Chocolate
- Fruit
- Others
Breakup by Category:
- Impulse
- Take-Home
- Artisanal
Breakup by Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Ice Cream Parlors
- Online Stores
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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