The global ice cream market reached a value of US$ 65.8 Billion in 2020. Ice cream is a sweet, frozen dessert made from a combination of milk, cream and artificial or natural flavorings. Some variants like frozen custard and French ice creams also use egg as one of the main ingredients. Ice cream is a rich source of carbohydrates, calcium, phosphorus, thiamine, riboflavin, niacin and folate, as well as vitamins A, C, D, E, K, B-6 and B-12. There are numerous flavors available in the market amongst which the most popular are strawberry, chocolate, and vanilla. Ice cream is one of the oldest desserts with its commercial production dating back to the early 1850s, when the first large-scale manufacturing plant was established in Baltimore, Maryland. Since then, rapid advancements in logistics and production processes have enabled manufacturers to offer ice cream through nearly every restaurant, supermarket and corner store.
Over the past few years, rising health consciousness and better knowledge have led consumers to shift toward upmarket treats, which are formulated with unusual and organic ingredients. Besides, several governing bodies across the globe are issuing new regulations pertaining to the labeling, ingredients and manufacturing of ice cream. For instance, the Food Safety and Standards Authority of India (FSSAI) is planning to introduce labeling requirements for frozen desserts in 2020. The norms will require Food Business Operators (FBOs) to prominently mention the percentage amount of vegetable proteins or vegetable fat/oil on the label. Apart from this, rapid urbanization has led to an expansion in modern retail formats such as departmental stores, hypermarkets, supermarkets and convenience stores, which is contributing to an increase in sales. Moreover, owing to the income elastic nature of ice cream consumption, rising disposable incomes and the improving purchasing power of consumers are escalating its per capita consumption in emerging regions like India and China. Looking forward, IMARC Group expects the global ice cream market to exhibit moderate growth during the next five years.
Breakup by Flavor:
Currently, vanilla is mostly preferred by consumers as it is used in the preparation of several other desserts.
Breakup by Category:
Amongst the categories mentioned above, impulse ice cream is expected to maintain its dominant position during the forecast period.
Breakup by Product:
At present, the majority of consumers prefer purchasing ice cream cups.
Breakup by Distribution Channel:
Supermarkets and hypermarkets represent the most popular distribution channel as they offer a wide collection of brands and flavors to the consumers.
Asia Pacific presently accounts for the majority of the market share, on account of improvements in cold chain facilities which have improved the availability of ice cream in rural areas as well.
Key Questions Answered in This Report:
The global ice cream market reached a value of US$ 65.8 Billion in 2020.
According to the estimates by IMARC Group, the global ice cream market is expected to exhibit moderate growth during the next five years.
Increasing demand for convenience food, along with the improving purchasing power of the consumers, is primarily driving the global ice cream market.
The growing health consumer consciousness have led to emergence of innovative product variants, such as gluten-free, organic, and lactose-free ice-creams, thereby representing one of the key trends in the global ice cream market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations and state of emergency across several nations resulting in temporary shutdown of numerous manufacturing units and supply chain disruptions for ice-creams.
On the basis of the flavor, the market has been bifurcated into chocolate, fruit, vanilla, and others. Amongst these, vanilla flavor holds the majority of the total market share.
On the basis of the category, the market has been classified into impulse, take-home, and artisanal ice creams. At present, impulse ice cream segment exhibits a clear dominance in the market.
On the basis of the product, the market has been categorized into cup, stick, cone, brick, tub, and others. Ice cream cups currently account for the majority of the total market share.
On the basis of the distribution channel, the market has been segregated into supermarkets and hypermarkets, convenience stores, ice cream parlors, online stores, and others. Amongst these, supermarkets and hypermarkets currently account for the largest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
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