The ‘Global Ice Cream Market Analysis, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global ice cream market, assessing the market on the basis of its segments like flavour, category, product, distribution channel, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 7.5%
Ice cream has a huge demand and consumption rate owing to its taste and the variety of flavours available such as chocolate, butterscotch, strawberry, and vanilla, among other flavours. Its is also considered to be rich in calcium, carbohydrates, niacin, folate, phosphorous, thiamine, riboflavin, and vitamins that include vitamin A, B-6, B-12, C, D, E, and K.
The presence of multiple nutrients helps it offer health benefits such as bone strengthening, lowering of blood pressure, repairing muscle tissues, providing energy, and stimulating brain functions. However, due to the presence of sugar, it is considered unhealthy for those with diabetes.
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Various other desserts and beverages also use ice cream in their preparation, such as milkshakes, sundaes, floats, cakes, and waffles, among other. Ice cream is added to enhance their taste and is expected to increase the sale of ice cream, fuelling the growth of the ice cream market. Increase in disposable income along with improving purchasing power have escalated the per capita consumption especially in the developing economies such as China and India.
Easy availability of ice creams from nearby departmental stores, supermarkets and hypermarkets, convenience stores, online deliveries is increasing its accessibility for consumers. Regulations pertaining to manufacturing and labelling of ice cream, mentioning ingredients such as percentage of sugar, fat, and preservatives present, is expected to further enhance the growth of the ice cream market.
Ice Cream Industry Definition and Major Segments
Ice cream is a common type of frozen dessert made by mixing cream, milk, fruits, and natural flavourings or artificial flavourings, which is then carefully stored to keep it frozen before usage. Some ice creams such as French ice creams and frozen custards might use egg in its preparation, to add extra texture and flavour.
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Based on flavour, the market can be segmented into:
On the basis of category, the market can be classified into:
• Impulse Ice Cream
• Take-Home Ice Cream
• Artisanal Ice Cream
Based on product, the market can be divided into:
On the basis of distribution channel, the market can be segmented into:
• Supermarkets and Hypermarkets
• Convenience Stores
• Ice Cream Parlours
• Online Stores
Based on region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Ice Cream Market Trends
The key trends in the global ice cream market include rapid advancement in the production process and logistics of ice cream as it enables manufacturers and producers to make their ice cream available in every supermarket, corner store, and restaurants easily. New ice cream parlours are opening up worldwide due to development of such machines that can produce ice cream available instantly.
Inclusion of organic fillings, exotic flavours, and functional ingredients in ice cream formulations by manufacturers is a major trend in the ice cream market. Exotic flavours such as coconuts, tropical fruits, and candies are being introduced into ice creams, attracting a large number of consumers. In addition, low fat and low calorie ice creams are also available which are increasing in demand from health conscious consumers.
Regionally, the Asia Pacific is expected to observe growth in the ice cream market because of the rising demand from the developing countries such as Indonesia, India, and China, among others. The growth of the market is further boosted in the Asia Pacific by increasing standard of living and rising disposable income. International ice cream brands are also expanding in the region, bolstering the presence of the market.
Key Market Players
The major players in the ice cream market report are:
- Nestlé SA
- General Mills Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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