Global Frozen Desserts Market Report and Forecast 2024-2032

Global Frozen Desserts Market Size

The global frozen desserts market value reached approximately USD 96.19 billion in 2023. The market is projected to grow at a CAGR of 4.60% between 2024 and 2032, reaching a value of around USD 144.33 billion by 2032.

Global Frozen Desserts Market Growth

Consumer preferences shifting towards convenient food options and seasonal fluctuations in demand are key drivers in the market. Frozen desserts like frozen yoghurt and ice cream are increasingly favoured as meal accompaniments due to their diverse flavours and appealing taste profiles. Additionally, ice cream sales surge during summer months is significantly boosting the frozen desserts industry revenue during this season. Many ice cream providers also invest in limited-edition flavours to differentiate themselves and gain a competitive advantage in the market.

Global Frozen Desserts Market Analysis

Customisation has emerged as a significant trend aiding market development as consumers can adjust the toppings and flavours depending on their tastes. For instance, several ice cream providers offer their consumers the choice to customise their scoops. Market players are introducing an innovative range of products with unique flavours and textures to meet the demand in the frozen desserts market.

Global Frozen Desserts Industry Outlook

According to the Eurostat, in 2022, the European Union produced 3.2 billion litres of ice cream, a 5% increase from the previous year. Germany has been the leading producer with 620 million litres, followed by France with 591 million litres and Italy with 571 million litres. Germany's ice cream has the lowest price, averaging EURO 1.5 per litre, while France and Italy averaged EURO 1.9 and EURO 2.3 per litre, respectively. Austria had the highest average price at EURO 7.0 per litre, followed by Denmark at EURO 4.4 and Finland at EURO 2.8 per litre.

As per the U.S. Department of Agriculture, between 2020 and 2023, annual confectionery exports in the United States demonstrated significant growth. In 2020, exports were valued at approximately USD 545.03 million. By 2023, confectionery exports surged to USD 856.88 million. Canada has been the largest market, accounting for USD 450.89 million of the total exports. Mexico followed with $87.4 million, and the European Union imported USD 42.93 million worth of U.S. confectionery products, bolstering the frozen desserts market revenue.

According to the Australian Bureau of Statistics, in 2022-23, the apparent consumption of yoghurt has been estimated to be 22 grams per capita per day.

According to the Ministry of Statistics & Programme Implementation in India, the per capita net national income at current prices is estimated at USD 1,814.4 for 2021-22 and USD 2,042.1 for 2022-23. Additionally, the per capita private final consumption expenditure (PFCE) at current prices is estimated at USD 1,265.4 for 2021-22 and USD 1,432.2 for 2022-23.

The demand of the frozen dessert market in Australia is growing, as indicated by a rise in food retailing from AUD 14,255.2 million in April 2024 to AUD 14,357.5 million in May 2024, according to the Australian Bureau of Statistics. Specifically, supermarkets and grocery stores reported a 0.1% increase, amounting to $12.1 million during this period on a seasonally adjusted basis.

The market offers a diverse array of frozen desserts such as ice cream, frozen yoghurt, and innovative confections appealing to various consumer tastes.

• Increasing consumer preference for healthier options drives demand for low-fat, probiotic-rich frozen yoghurt and fruit-based desserts, boosting the growth of the frozen desserts industry.

• Frozen desserts enjoy widespread consumption worldwide, embraced in both developed and emerging markets due to cultural acceptance and evolving preferences.

Fluctuations in consumer demand based on seasons can impact sales, particularly affecting ice cream during colder periods.

• Concerns regarding sugar content and artificial additives may deter health-conscious consumers from regular consumption.

• Maintaining consistent product quality poses challenges in storage and transportation logistics.

Introducing new flavours, healthier ingredients, and functional additives can attract health-conscious consumers and drive frozen desserts market opportunities.

• Rising disposable incomes and evolving lifestyles in emerging economies present opportunities for growth in frozen dessert consumption.

• Growth in online sales platforms provides new avenues for direct consumer engagement and product promotion.

High competition among global and local brands leads to price competition and pressure on profit margins.

• Varied food safety regulations and labelling requirements across regions pose compliance challenges for multinational companies.

• Increasing awareness about packaging waste and sustainability practices may influence consumer choices and regulatory policies in the frozen desserts sector.

Key Players in the Global Frozen Desserts Market and their Key Initiatives

Nestle S.A.

• The company launched new low-calorie and plant-based frozen dessert options to meet growing frozen desserts market opportunities.

• Committed to using 100% recyclable packaging for frozen desserts by 2025. 

Unilever Plc

• Expanded e-commerce platforms and partnered with delivery services.

• Launched a new line of vegan frozen desserts under the Magnum and Ben & Jerry’s brands.

General Mills Inc.

• Streamlined logistics to reduce costs.

• The company adopted eco-friendly packaging solutions to address the increasing demand of the frozen desserts market.

Fonterra Co-Operative Group Ltd

• Launches wellbeing nutrition solutions brand.

• Launched a tool to help customers access the emissions profile of individual New Zealand NZMP products.

Global Frozen Desserts Industry Segmentation

“Global Frozen Desserts Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Frozen Yogurt 

• Ice Cream 

• Confectionaries and Candies 

• Others 

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets 

• Convenience Stores 

• Specialty Stores 

• Online 

• Others 

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Frozen Desserts Market Share

In terms of product categories, the market includes frozen yoghurt, ice cream, confectionery, and candies, among others, driving growth in the frozen desserts market. Frozen yoghurt has become increasingly popular, surpassing ice cream demand in many regions due to its low-fat content, inclusion of prebiotics and probiotics, and availability of a wide range of flavours from traditional vanilla and chocolate to exotic fruits.

Leading Companies in the Frozen Desserts Market

The market participants are introducing novel flavours to stay ahead of the competition.

• Nestle S.A.  

• Unilever Plc  

• General Mills Inc.  

• Fonterra Co-Operative Group Ltd. 

• MEIJI Holdings Co. Ltd. 

• Mondelez International, Inc. 

• Inspire Brands, Inc. 

• Dairy Farmers of America, Inc.  

• Regal Cream Products Pty Ltd.  

• Bassetts Ice Cream Company

Key Highlights of the Report

Frozen Desserts Market Report Snapshots

Frozen Desserts Market Size

Frozen Desserts Market Growth

Frozen Desserts Market Analysis

Frozen Desserts Market Share

Frozen Desserts Companies