Ice Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Ice Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global ice cream market size reached US$ 70.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 94.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.14% during 2023-2028.
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) introduced 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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ice cream market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on flavor, category, product and distribution channel.
Breakup by Flavor:
Vanilla
Chocolate
Fruit
Others
Currently, chocolate is mostly preferred by consumers as it is used in the preparation of several other desserts.
Breakup by Category:
Impulse
Take-Home
Artisanal
Amongst the categories mentioned above, impulse ice cream is expected to maintain its dominant position during the forecast period.
Breakup by Product:
Cup
Stick
Cone
Brick
Tub
Others
At present, the majority of consumers prefer purchasing ice cream cups.
Breakup by Distribution Channel:
Supermarkets/Hypermarkets
Convenience Stores
Ice Cream Parlors
Online Stores
Others
Supermarkets and hypermarkets represent the most popular distribution channel as they offer a wide collection of brands and flavors to the consumers.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Europe presently accounts for the majority of the market share.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of the top ice cream companies key players are:
Unilever
Nestle
Inner Mongolia Yili Industrial Group
General Mills
Key Questions Answered in This Report
1. What was the global ice cream market size in 2022?
2. What will be the global ice cream market outlook during the forecast period (2023-2028)?
3. What are the global ice cream market drivers?
4. What are the major trends in the global ice cream market?
5. What is the impact of COVID-19 on the global ice cream market?
6. What is the global ice cream market breakup by flavor?
7. What is the global ice cream market breakup by category?
8. What is the global ice cream market breakup by product?
9. What is the global ice cream market breakup by distribution channel?
10. What are the major regions in the global ice cream market?
The global ice cream market size reached US$ 70.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 94.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.14% during 2023-2028.
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) introduced 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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ice cream market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on flavor, category, product and distribution channel.
Breakup by Flavor:
Vanilla
Chocolate
Fruit
Others
Currently, chocolate is mostly preferred by consumers as it is used in the preparation of several other desserts.
Breakup by Category:
Impulse
Take-Home
Artisanal
Amongst the categories mentioned above, impulse ice cream is expected to maintain its dominant position during the forecast period.
Breakup by Product:
Cup
Stick
Cone
Brick
Tub
Others
At present, the majority of consumers prefer purchasing ice cream cups.
Breakup by Distribution Channel:
Supermarkets/Hypermarkets
Convenience Stores
Ice Cream Parlors
Online Stores
Others
Supermarkets and hypermarkets represent the most popular distribution channel as they offer a wide collection of brands and flavors to the consumers.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Europe presently accounts for the majority of the market share.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of the top ice cream companies key players are:
Unilever
Nestle
Inner Mongolia Yili Industrial Group
General Mills
Key Questions Answered in This Report
1. What was the global ice cream market size in 2022?
2. What will be the global ice cream market outlook during the forecast period (2023-2028)?
3. What are the global ice cream market drivers?
4. What are the major trends in the global ice cream market?
5. What is the impact of COVID-19 on the global ice cream market?
6. What is the global ice cream market breakup by flavor?
7. What is the global ice cream market breakup by category?
8. What is the global ice cream market breakup by product?
9. What is the global ice cream market breakup by distribution channel?
10. What are the major regions in the global ice cream market?
Table of Contents
130 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Ice Cream Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Impact of COVID-19
- 5.4 Price Analysis
- 5.4.1 Key Price Indicators
- 5.4.2 Price Structure
- 5.4.3 Price Trends
- 5.5 Market Breakup by Flavor
- 5.6 Market Breakup by Category
- 5.7 Market Breakup by Product
- 5.8 Market Breakup by Distribution Channel
- 5.9 Market Breakup by Region
- 5.10 Market Forecast
- 5.11 SWOT Analysis
- 5.11.1 Overview
- 5.11.2 Strengths
- 5.11.3 Weaknesses
- 5.11.4 Opportunities
- 5.11.5 Threats
- 5.12 Value Chain Analysis
- 5.12.1 Raw Material Procurement
- 5.12.2 Manufacturing
- 5.12.3 Marketing
- 5.12.4 Distribution
- 5.12.5 Exports
- 5.12.6 End-Use
- 5.13 Porter’s Five Forces Analysis
- 5.13.1 Overview
- 5.13.2 Bargaining Power of Buyers
- 5.13.3 Bargaining Power of Suppliers
- 5.13.4 Degree of Competition
- 5.13.5 Threat of New Entrants
- 5.13.6 Threat of Substitutes
- 5.14 Key Success Factors and Risk Factors
- 6 Market Breakup by Flavor
- 6.1 Chocolate
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Fruit
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Vanilla
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 7 Market Breakup by Category
- 7.1 Impulse Ice Cream
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Take-Home Ice Cream
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Artisanal Ice Cream
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 8 Market Breakup by Product
- 8.1 Cup
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Stick
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Cone
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Brick
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Tub
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 9 Market Breakup by Distribution Channel
- 9.1 Supermarkets/Hypermarkets
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Convenience Stores
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Ice Cream Parlours
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Online Stores
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Others
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
- 11 Competitive Landscape
- 11.1 Market Structure
- 11.2 Key Players
- 12 Ice Cream Manufacturing Process
- 12.1 Product Overview
- 12.2 Detailed Process Flow
- 12.3 Various Types of Unit Operations Involved
- 12.4 Mass Balance and Raw Material Requirements
- 13 Project Details, Requirements and Costs Involved
- 13.1 Land Requirements and Expenditures
- 13.2 Construction Requirements and Expenditures
- 13.3 Plant Machinery
- 13.4 Machinery Pictures
- 13.5 Raw Material Requirements and Expenditures
- 13.6 Raw Material and Final Product Pictures
- 13.7 Packaging Requirements and Expenditures
- 13.8 Transportation Requirements and Expenditures
- 13.9 Utility Requirements and Expenditures
- 13.10 Manpower Requirements and Expenditures
- 13.11 Other Capital Investments
- 14 Loans and Financial Assistance
- 15 Project Economics
- 15.1 Capital Cost of the Project
- 15.2 Techno-Economic Parameters
- 15.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 15.4 Taxation and Depreciation
- 15.5 Income Projections
- 15.6 Expenditure Projections
- 15.7 Financial Analysis
- 15.8 Profit Analysis
- 16 Key Player Profiles
- 16.1 Unilever
- 16.2 Nestle
- 16.3 Inner Mongolia Yili Industrial Group
- 16.4 General Mills
Pricing
Currency Rates
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