Ice Cream Market

Ice Cream Market Synopsis

The Global Ice Cream Market was valued at USD 97.0 billion in 2024 and is expected to grow from USD 101.0 billion in 2025 to USD 141.4 billion by 2033, reflecting a CAGR of 4.3% over the forecast period.

The ice cream industry is a prosperous niche in the global frozen dessert market that is gaining momentum due to a growing consumer interest in their products as delicious, decadent, and experimental products. The consumption of ice cream across the world has increased markedly due to the increase in disposable income, urbanization coupled with changing lifestyles. The market has a diversity of products in terms of offering impulse ice creams, take-home tubs and artisanal products besides premium based and functional types targeted towards the health conscious group. Plant-based and dairy-free ice creams, exotic flavors and clean-label ingredients are the product development directions.

Ice Cream Market Driver Analysis

Rising Disposable Income and Urbanization

Higher disposable income and high speed lifestyles are also playing a significant role in raging demand of food that is easy to consume and luxurious to eat like ice cream. Given that more individuals, particularly in towns, are realizing an increase in their disposal income, they are ready to spend on high-end snacks, comfort foods that can provide instant gratification. City life, in most cases, is accompanied by busy lifestyles which prompt consumers to look into readymade snacks and desserts which do not take long to prepare. Ice cream as a convenience food and an indulgent food perfectly belongs in this lifestyle. It offers a break of leisure and delight in hectic lives and hence it is preferred by people of all classes such as working individuals, students, and families. This behaviour change among consumers is hailing manufacturers to diversify their product line as well as distribution channels to deal with the increased demand.

Ice Cream Market Restraint Analysis

Health Concerns Related to Sugar and Fat Content

The increasing concern associated with awareness on obesity, diabetes, among other health-related issues is causing many consumers to cut down or even shun the repeated use of the conventional ice cream. The society is increasingly turning health conscious and are becoming more conscious of the food they eat for example, the amount of sugar, fats and calories. The old ice cream being rich in such elements is becoming something of the indulgence rather than the way of life. This change of thinking is leading to an increasing demand of healthier choices, i.e., low-fat, sugar-free, or dairy-free products.

Ice Cream Market Opportunity Analysis

Rising Popularity of Plant-Based and Vegan Ice Creams

The rise in the popularity of dairy-free and allergen-free ice cream has opened up a new segment of the market especially to people who are health conscious and dieters with restrictions i.e. lactose intolerant and dairy allergic patients. The consumers are turning out to be more inclined to products that are in tandem with their individual health plans, their moral stands, or more particular nutrition requirements. This has given rise to ice creams that are made out of plant products such as almond milk, coconut milk, oat milk and soy. These alternatives do not only address the needs of the person avoiding dairy but also reach vegan individuals and people who care about the environment. The segment is leaving a substantial room of opportunities for manufacturers to innovate their products and diversify their product lines as well as reaching more customers since the awareness of food sensitivities and wellness trends is on the rise.

Ice Cream Market Trend Analysis

Sustainable Packaging and Ethical Sourcing

Eco-friendly packaging and sustainable sourcing are becoming common ingredients of brands trying to appeal to environmentally conscious consumers in the ice cream market. As people become more conscious of environmental problems including plastic pollution, emissions to the atmosphere, and consumption of natural resources, consumers are closely interested in finding products that endorse their ideas about sustainability. Responsively to this, manufacturers are moving towards biodegradable, recyclable or compostable package materials and using less of single use plastics. What is more, numerous brands are adopting the practice of ethical ingredient sourcing, i.e., they source milk as organic, cocoa as fair-trade, or fruits to be grown responsibly.

Ice Cream Market Segment Analysis

The Ice Cream Market is segmented on the basis of Product, Type, and Flavor.

By Product

o   Tubs

o   Cones

o   Cartons

o   Cups

o   Bars

By Type

o   Dairy & Water-based

o   Vegan

By Flavor

o   Vanilla

o   Chocolate

o   Fruit

o   Other Flavors

By Distribution Channel

o   Hypermarket/Supermarket

o   Online Retailer

o   Ice Cream Parlor

o   Other Distribution Channels

By Region

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

By Product, Bars Segment is Expected to Dominate the Market During the Forecast Period

The products discussed in this research study, the bars segment is expected to account for the largest market share of ice cream market in the forecast period. Ice cream bars are convenient to be taken outside, they do not need special equipment and can be found in a variety of flavors, coating, and texture variations, appealing to different tastes. They also have an individually packaged form which enables them to promote hygiene and freshness thus very well in urban and fast-paced environments. Also, new products like low calorie, vegetable based and protein boosting bars are expanding their market to health conscious people.

By Type, the Dairy & Water-based Segment is Expected to Held the Largest Share

The dairy & water-based segment is likely to dominate the market. Dairy ice creams have creamy roughness, creamy taste, and creamy flavor and it is the most traditional choice of ice cream among consumers. In the meantime, there are water based varieties e.g. sorbets and ice pops which are produced to appeal to those who want cool and refreshing products especially in hot regions. Due to a diverse selection of flavors, formats and price points offered on the market in this segment, it is very accessible and versatile.

By Flavor, the Chocolate Segment is Expected to Held the Largest Share

The chocolate segment is expected to hold the largest share of the ice cream market by flavor, owing to its universal appeal, rich taste profile, and versatility in product innovation. Chocolate is an eternal favorite to people of any age and is widely regarded as a comfort food, an indulgence. Its flexibility means that manufactures can play around with as much different flavors as dark chocolate, fudge, chocolate chips, brownies and chocolate-swirls which keeps consumer priority up. Also, chocolate goes with other tastes, and toppings making it even more popular.

By Distribution Channel, the Online Retailer Segment is Expected to Held the Largest Share

The online retailer segment is expected to hold the largest share of the ice cream market by distribution channel during the forecast period, driven by the rising popularity of e-commerce and food delivery platforms. In the urban setting, online purchases are becoming more popular due to the ease of making the purchase, a broad range of products offered, and delivery on the doorstep. The emergence of online grocery, quick commerce (Q-commerce), and mobile apps has increased the accessibility to ice cream order in non-standard time weeks or during the hot seasons. In addition, there is direct-to-consumer (DTC) sales via digital channels, which brands are already willing to provide and offer exclusive flavors, special deals, and subscription services.

Ice Cream Market Regional Insights

North America is Expected to Dominate the Market Over the Forecast period 

North America is projected to dominate the global ice cream market throughout the forecast period, driven by high per capita consumption, strong brand presence, and continuous product innovation. The area has an extensive cold chain network and the accessibility of ice cream to customers is extensive in the various retail stores, supermarkets, convenience stores, and online services. North American consumer likes indulgent and premium products and this factor has motivated firms to launch new flavors, forms, and health-friendly products like low-calorie, dairy-free, and high-protein products. Also, the existence of prominent worldwide and regional players, effective marketing plans, as well as maturing power of the online retail channel also add to the power of the market leadership of the region.

Recent Development

In April 2024, Unilever’s Magnum brand launched the Magnum Pleasure Express, a collection of three mood-inspired ice cream flavors, marking a notable innovation in the brand’s product lineup.

In February 2024, Nestlé unveiled its 2024 lineup of sharing bags, inspired by classic ice cream flavors. The new range features Aero Melts in Neapolitan flavor, Munchies Cookie Dough Ice Cream, Raspberry Ripple, Milkybar Buttons, and ice cream-shaped Rowntree’s Randoms Foamies.

Active Key Players in the Ice Cream Market

o   Haagen Dazs

o   Ice Cream Alliance

o   General Mills

o   Danone

o   PepsiCo

o   Unilever Ice Cream

o   Breyers

o   Nestle

o   Mars

o   Blue Bell Creameries

o   Froneri

o   Other Key Players

Global Ice Cream Market Scope