Ice Cream Market valued for USD 62 billion in 2019, growing at a robust CAGR of 2.8% during forecast period.

Introduction of the Global Ice Cream Market Research Report

Ice cream is a mixture of cream, sugar, milk, and other ingredients that have been frozen into creamy and soft form through special methods. Ice cream has been liked by people for numerous years and has gained popularity due to the extensive usage of refrigerators. The increasing popularity of ice cream has led to multiple ice cream variations, such as frozen yogurt, frozen custard, and non-dairy versions made with coconut milk.

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Availability of different flavours in ice cream, expansion in the food and beverage industry, and rising health awareness among consumers are some of the major factors fueling the Ice Cream Market. In addition, accelerating disposable incomes have inclined individuals towards premium quality ice cream, thus, encouraging manufacturers to expand their product range by incorporating organic, herbal, and exotic flavours, which will drive the ice cream market size. For instance, in November 2021, Natural’s Ice Cream introduced Orange Chocolate with exclusive and natural orange pulp and chocolate paste. The new flavor is available at all the retail stores across the country and online distribution partners. With the growing health concerns and increasing incidence of diabetes, manufacturers have introduced the latest range of low-sugar ice cream to cater the growing demand for consumers. For example, Halo Top, a leading ice cream company, produces low sugar, calories, high protein, and natural ingredients and flavors.

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On the basis of the product, the market is segmented into impulse, artisanal, and take home. Among these, the artisanal ice cream would witness a higher CAGR during the forecast period. Artisanal ice creams are natural products with high nutritional value and is often consumed as a small and pleasant snack. These ice creams do not have artificial flavors or added sugar instead they are made up of natural ingredients. The increasing health concerns will further energize the demand of the segment over the forecast period. The impulse segment would lead the market during the forecast period. Impulse ice cream consists of cones, cups, bars, and candies, which are ready to eat. Moreover, during the summer season, the customer prefers to have chilled candies and lollies to reduce heat, which fuels the growth of the market.

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On the basis of region, the Asia-Pacific region is projected to advance at a higher CAGR during the forecast period attributed to the rapid urbanization and increasing disposable income of individuals across the region. Moreover, supermarkets and hypermarkets in the region are promoting the sales of ice creams during favorable season, which further drives the growth of the market in Asia-Pacific region.

The major players in the market include General Mills Inc., Nestle S.A., Mars Incorporated, Blue Bell Creameries, L.P, Lotte Confectionery Co. Ltd, Wells Enterprises, Turkey Hill Dairy, Mihan Dairy & Ice cream Group, and Meiji Holdings Co., Ltd.

Key Development:

• • In 2021, General Mills collaborated with Ting Shin Group. This merger is intended to expand into lower-tier markets and speed up its product offerings in China to gain a stronger foothold in the food and catering sector. The partnership will include sales channel expansion beyond current physical store coverage in about 80 domestic cities for General Mills’ ice cream brand Häagen-Dazs.
  • In 2021, Nestlé Canada decided to invest more than $41 million to expand its London ice cream plant. The investment will help the company to expand production among several brands, including Hӓagen-Dazs, Real Dairy and Drumstick, all of which have grown in recent years.

The global ice cream market has been segmented on the basis of product and region. Based on product, the market is segmented into impulse, artisanal, and take home.

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Key questions answered in this research report:

• • At what pace is global ice cream market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in ice cream market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global ice cream market?
  • What is the various type of products in global ice cream market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
  • Which product generated maximum revenues in 2019 and identify the most promising product during the forecast period?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 62 billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	General Mills Inc., Nestle S.A., Mars Incorporated, Blue Bell Creameries, L.P, Lotte Confectionery Co. Ltd, Wells Enterprises, Turkey Hill Dairy, Mihan Dairy & Ice cream Group, and Meiji Holdings Co., Ltd.; a total of 9 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Ice Cream Market by Product

• • Impulse Ice Cream
  • Artisanal Ice Cream
  • Take Home Ice Cream

Global Ice Cream Market by Region

• • North America Ice Cream Market (Option 1: As a part of the free 25% customization)

• • • By Product
    • US Market All-Up
    • Canada Market All-Up

• • Europe Ice Cream Market (Option 2: As a part of the free 25% customization)

• • • By Product
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Ice Cream Market (Option 3: As a part of the free 25% customization)

• • • By Product
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

• • RoW Ice Cream Market (Option 4: As a part of the free 25% customization)

• • • By Product
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Ice Cream Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • General Mills Inc.
  • Nestle S.A.
  • Mars Incorporated
  • Blue Bell Creameries, L.P
  • Lotte Confectionery Co. Ltd
  • Wells Enterprises
  • Turkey Hill Dairy
  • Mihan Dairy & Ice cream Group
  • Meiji Holdings Co. Ltd