Market Size of Europe Ice Cream Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.87 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Ice Cream Market Analysis
The European ice cream market is projected to record a CAGR of 4.87% over the upcoming five years.
Demand for ice creams that are low on fats, made using natural ingredients, yet do not compromise on taste and indulgence is growing across Europe. Germany and Russia are the biggest ice cream markets in Europe. Over the medium term, indulgence and the increasing consumer preference for ice cream as a leisure product drove the growth of this market, and new innovative flavors, offered by companies, further act as a catalyst for demand generation.
One of the popular trends in the European ice cream market is the premiumization of ice creams. Europeans prefer premium ice creams due to their distinctive flavors and portions. Premium ice cream has a higher percentage of butterfat and fewer air particles per ice cream particle. The demand for luxury ice cream and regular ice cream desserts is also rising sharply in the European market due to the continent's rapidly expanding urbanization and the dairy industry's improved technological improvements. The key causes driving the increase in the European ice cream market's annual sales are the use of novel ingredients such as whole milk, skim milk, and sweetening and flavoring agents.
Additionally, there has been an ongoing trend of artisanal ice cream across European regions like Italy, France, and others regions. The key players in the market are expanding their reach to different countries in the region. In September 2021, Barilla, an Italian food company, collaborated with Algida, a Unilever brand, to cater to the Italian customer base with a new range of ice creams.
