Global Ice Cream Market to Reach US$ 98.7 Billion by 2032, Stimulated by Changing Consumer Preferences

December 13, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “Ice Cream Market Report by Flavor (Vanilla, Chocolate, Fruit, and Others), Category (Impulse Ice Cream, Take-Home Ice Cream, Artisanal Ice Cream), Product (Cup, Stick, Cone, Brick, Tub, and Others), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Ice Cream Parlors, Online Stores, and Others), and Region 2024-2032,” the global ice cream market size reached US$ 73.4 Billion in 2023. Ice cream, a universally beloved frozen dessert, is produced from dairy products such as milk and cream, often combined with fruits, nuts, and other flavorings. This delightful treat is available in various forms, including traditional scoops, soft serve, gelato, frozen yogurt, and artisanal variations, catering to diverse palates and dietary preferences. Ice cream's versatility extends beyond flavors, embracing aspects like texture, richness, and serving methods. Manufacturing ice cream involves a process known as churning, which aerates the mixture, contributing to its creamy texture. This process, combined with controlled freezing, ensures the formation of small ice crystals, crucial for a smooth consistency. Modern production techniques often incorporate stabilizers and emulsifiers, enhancing texture and shelf life. Key advantages of ice cream include its widespread appeal across age groups, adaptability to innovative flavors and health-conscious options, and its role as a comfort food, enhancing its attractiveness to consumers worldwide.

Global Ice Cream Market Trends:

The global ice cream market is majorly driven by evolving consumer preferences and innovative product offerings. This can be supported by the rising popularity of premium and artisanal ice creams, which offer unique flavors and high-quality ingredients. Additionally, the escalating demand for healthier options, such as low-fat, low-sugar, and dairy-free alternatives, is expanding the market's consumer base. Along with this, the introduction of exotic and ethnic flavors caters to the adventurous palates of a global audience, further stimulating market growth. In addition, technological advancements in freezing and packaging methods are enhancing product quality and shelf life, making ice cream more accessible and convenient for consumers. Moreover, the growth in online retail channels allows for easy discovery and purchase of a wide range of ice cream products, contributing to market expansion. Apart from this, the influence of social media and marketing campaigns in promoting new flavors and limited-edition products creates a buzz, encouraging trial and repeat purchases. Therefore, this is positively influencing the market. In confluence with this, seasonal and festive variations and collaborations with popular brands and celebrities are trending, creating excitement and anticipation among consumers. Furthermore, ongoing product innovation and strategic marketing efforts are creating a positive market outlook. Looking forward, the market value is projected to reach US$ 98.7 Billion by 2032, expanding at a CAGR of 3.1% during 2024-2032.

Market Summary:

  • Based on the flavor, the market has been segmented into chocolate, fruit, vanilla, and others. At present, chocolate represents the largest segment.
  • On the basis of the category, the market has been segregated into impulse ice cream, take-home ice cream, and artisanal ice cream. Currently, impulse ice cream holds the largest segment.
  • Based on the product, the market has been divided into cup, stick, cone, brick, tub, and others. Presently, cup accounts for the largest market share.
  • On the basis of the distribution channel, the market has been segmented into supermarkets/hypermarkets, convenience stores, ice cream parlors, online stores, and others. At present, supermarkets/hypermarkets account for the largest market share.
  • Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (France, Germany, Netherlands, Norway, Sweden, Denmark, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Presently, Europe dominates the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Unilever, Nestle, Inner Mongolia Yili Industrial Group, and General Mills.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion, Million Tons
Segment Coverage Flavor, Category, Product, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, France, Germany, Netherlands, Norway, Sweden, Denmark, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Unilever, Nestle, Inner Mongolia Yili Industrial Group, and General Mills
Customization Scope 10% Free Customization
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Global Ice Cream Market to Reach US$ 98.7 Billion by 2032, Stimulated by Changing Consumer Preferences
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