|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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).
|Impulse Ice Cream|
|Take-home Ice Cream|
|Artisanal Ice Cream|
|By Distribution Channel|
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.
To understand key trends, Download Sample Report
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.
To understand geography trends, Download Sample Report
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.
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 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Impulse Ice Cream
5.1.2 Take-home Ice Cream
5.1.3 Artisanal Ice Cream
5.2 By Category
5.3 By Distribution Channel
22.214.171.124 Convenience Stores
126.96.36.199 Specialist Stores
188.8.131.52 Other Distribution Channels
5.4.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Unilever PLC
6.4.2 Nestle SA
6.4.3 Lotte Corporation
6.4.4 General Mills Inc.
6.4.5 Inspire Brands Inc.
6.4.6 Blue Bell Creameries LP
6.4.7 Dairy Farmers of America Inc.
6.4.8 Ben & Jerry's Homemade Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Global Ice Cream Market market is studied from 2016 - 2026.
What is the growth rate of Global Ice Cream Market?
The Global Ice Cream Market is growing at a CAGR of 2.87% over the next 5 years.
Which region has highest growth rate in Global Ice Cream Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Ice Cream Market?
North America holds highest share in 2020.
Who are the key players in Global Ice Cream Market?
Unilever, Nestle SA, General Mills Inc., Lotte Corporation, Inspire Brands, Inc. are the major companies operating in Global Ice Cream Market.