Ice Cream Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Ice Cream Market is Segmented by Type (Impulse Ice Cream, Take-home Ice Cream, and Artisanal Ice Cream), Category (Dairy and Non-dairy), Distribution Channel (On-trade and Off-trade), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market sizes and forecasts (in USD billion) for the above segments.

Market Snapshot

ice cream market
Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

2.87 %

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Market Overview

The ice cream market was valued at USD 62.40 billion in 2020, and it is projected to register a CAGR of 2.87% during the forecast period, 2021-2026.

The ice cream industry had suffered during COVID-19 due to supply chain disruptions that impacted the ice cream sales. Also, a lot of people were avoiding ice cream as they felt it may make them susceptible to COVID-19.

Further, due to the rising health concerns with regards to ice cream consumption, consumers are now preferring ice cream products that are GMO-free, hormone-free, additive- and preservative-free, dairy-free, low in calories, and organic and fat-free in nature.

There is a rise in demand for premium ice creams, which will be one of the primary factors driving the market growth. Premium ice creams have become a popular product among health-conscious consumers due to the presence of high-quality ingredients and a lower amount of aeration compared to regular ice creams.

Scope of the Report

Ice cream is a sweetened frozen food typically eaten as a snack or dessert. Further, the market has been segmented on the basis of product type, category, distribution channel, and geography. By product type, the market is segmented as impulse ice cream, take-home ice cream, and artisanal ice cream. By category, the market is segmented into dairy and non-dairy. By distribution channel, the market is segmented into on-trade and off-trade. Off-trade is further sub-segmented into supermarkets/hypermarkets, convenience stores, specialist stores, and other distribution channels. By geography, the market covers the major countries in North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).

By Type
Impulse Ice Cream
Take-home Ice Cream
Artisanal Ice Cream
By Category
Dairy
Non-dairy
By Distribution Channel
On-trade
Off-trade
Supermarkets/Hypermarkets
Convenience Stores
Specialist Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
Germany
United Kingdom
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
Australia
India
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Innovative Flavors and Loaded Indulgence are Boosting the Market Growth

With an aim to gain a competitive advantage and to appeal to more consumers, ice cream manufacturers are creating products with premium and innovative ingredients. This, in turn, increases their customer base as well. Furthermore, the favorable regulations also cater to the innovations in the market studied. For instance, in May 2019, the FDA held a public hearing on the legalization of cannabidiol in the United States. Thus, key players are tapping into this opportunity and introducing new products with an aim to differentiate their offerings. One such example is when Ben & Jerry initiated the launch of CBD-infused ice cream. The company plans to source its future CBD locally from Vermont, aligning with its practices of ‘values-led sourcing’.

Further, liquor ice cream is also gaining popularity across developed regions such as North America and Europe. The products contain less than 0.5% alcohol, and therefore, are widely retailed in grocery and specialty stores. For instance, Häagen-Dazs launched spirit-infused ice cream with a flavor of five traditional pints made with Irish cream, rum, bourbon, and stout. Therefore, catering premium products with both innovative flavors and loaded indulgence to consumers is driving the market growth.

Ice Cream Market 1

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North America Holds the Largest Market Share

With the rising demand for frozen snacks among the millennial population, the North American ice cream market is expected to witness significant growth. The majority of these consumers opt for frozen dessert as meal replacements. Further, hectic lifestyles, coupled with health and wellness concerns, are driving these changes. A growing preference for natural, less processed, and convenient food and an increasing focus on low-calorie ice creams are enabling companies to tap into the growth potential of the market. The growing interest in gelato and soft serve among North American consumers can be accredited to the fact that they offer a wide variety of options that fit the needs of consumers. They are comparatively easy to implement and can be produced with premium and authentic ingredients.

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Competitive Landscape

The ice cream market is a competitive market and comprises regional and international competitors like Unilever, Nestle, Blue Bell, Herdez, and Inspire Brands Inc. These players compete on different factors, including product offerings, quality, taste, flavor, price, functionality, size, packaging, and marketing activities, to gain a competitive advantage in the market. The most active companies in the market are mainly focused on introducing new products to cater to the interests of consumers.

Recent Developments

In 2020, one of the ice cream brands, Dairy Day, launched Dairy Day Plus, a range of ice creams with immunity-boosting ingredients.

In 2019, Blue Bell Creameries introduced many new offerings, such as Key Lime Mango Tart and Mardi Gras King Cake ice cream, and expanded its ice cream portfolio in the United States with a new raspberry fudge brownie variant.

In 2018, Ben & Jerry's launched an ice cream with 60-70% less fat and 35% fewer calories than its traditional ice creams.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Impulse Ice Cream

      2. 5.1.2 Take-home Ice Cream

      3. 5.1.3 Artisanal Ice Cream

    2. 5.2 By Category

      1. 5.2.1 Dairy

      2. 5.2.2 Non-dairy

    3. 5.3 By Distribution Channel

      1. 5.3.1 On-trade

      2. 5.3.2 Off-trade

        1. 5.3.2.1 Supermarkets/Hypermarkets

        2. 5.3.2.2 Convenience Stores

        3. 5.3.2.3 Specialist Stores

        4. 5.3.2.4 Other Distribution Channels

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Spain

        2. 5.4.2.2 Germany

        3. 5.4.2.3 United Kingdom

        4. 5.4.2.4 France

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Russia

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 Australia

        4. 5.4.3.4 India

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Unilever PLC

      2. 6.4.2 Nestle SA

      3. 6.4.3 Lotte Corporation

      4. 6.4.4 General Mills Inc.

      5. 6.4.5 Inspire Brands Inc.

      6. 6.4.6 Blue Bell Creameries LP

      7. 6.4.7 Dairy Farmers of America Inc.

      8. 6.4.8 Ben & Jerry's Homemade Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Global Ice Cream Market market is studied from 2016 - 2026.

The Global Ice Cream Market is growing at a CAGR of 2.87% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Unilever
  • Nestle SA
  • General Mills Inc.
  • Lotte Corporation
  • Inspire Brands, Inc.

Are the major companies operating in Global Ice Cream Market.

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