Published on: May 14, 2024
The ice cream market size is projected to increase by USD 29.58 billion, at a CAGR of 5.99% between 2023 and 2028. There is currently a growth in demand for innovative flavors and premium products, alongside a growing consumer preference for natural ingredients and healthy alternatives. Traditional segments like impulse ice creams (which include cones, sandwiches, and pops) are evolving to cater to changing consumer tastes and preferences.
The ice cream market is expected to continue growing steadily, driven by factors such as increasing consumer demand for indulgent treats and the growing number of online retailers offering frozen products. Product types in this market include tubs, cones, sandwiches, and can use different types of ingredients such as organic, herbal, and synthetic to cater to customer demand. Products are typically sold through retail stores (including grocers, hypermarkets and local general stores and convenience stores), online retailers, and food service providers.
While classic varieties such as strawberry, vanilla, and mint chip flavor ice creams remain popular, consumers are increasingly looking for more complex and innovative flavors like blueberry cheesecake, mocha almond fudge brownie, cookies and cream, peanut butter cookie dough, or mango passion fruit. Health-consciousness among consumers is driving demand for premium and natural ingredients, as well as dairy-free and vegan alternatives. There is also a growing interest in functional ingredients such as plant sterols and lecithin. Consumer demand for indulgent and premium ice cream products, coupled with the convenience of online shopping and the availability of a wide product range, are key drivers of market growth.
Challenges facing the ice cream market include storage costs, logistics, and transportation requirements, particularly regarding temperature-sensitive products. Energy usage and refrigeration capabilities are crucial to maintaining product quality during transportation and storage. There is also competition from alternative desserts that may be perceived as healthier than ice cream products.
Technavio’s market research on this industry provides a detailed analysis of the market landscape, providing data on product types, regional markets, sales channels, and more.
Our ice cream market segmentation covers topics such as:
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North American demand for ice cream is rising, and in 2023, the US became the largest market for ice cream in North America in terms of revenue. Some of the factors that are expected to contribute to the expansion of the market in North America are the rising number of new product launches and the rising investments by market participants. The market's suppliers are also investing in expanding their production capacities in North America to fulfill rising consumer demand for ice cream.
Technavio's ice cream industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our ice cream market reports include:
Learn more about the ice cream industry: Explore Reports
In order to provide you with a comprehensive view of the ice cream industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
1.How do I identify key trends in the ice cream market?
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
2.How do I decide which segments of the ice cream market to focus on?
Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.
3.Who are the major players in the ice cream market?
We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
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