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The global ice cream market size attained a value of USD 83.24 billion in 2023. The market is expected to grow at a CAGR of 4.3% between 2024 and 2032, reaching almost USD 121.94 billion by 2032.
Ice cream manufacturers are experimenting with different varieties of toppings and mix-ins on ice creams to make their products look more premium and expand their customer base. The demand for artisanal ice cream is on the rise due to consumer preferences shifting towards unique and high-quality desserts. Artisanal ice cream offers distinct flavours, premium ingredients, and traditional craftsmanship, appealing to consumers seeking a more indulgent and authentic ice cream experience.
Some of the factors driving the ice cream market growth are the availability of ice creams on various distribution channels, demand for healthier products using natural ingredients, and the expansion of ice cream parlours.
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Rising demand for premium ice creams, non-dairy ice creams, and the adoption of sustainable production methods are the key trends in the ice cream market development.
| Date | Company | Details |
| June 2023 | Unilever Plc | Unilever Plc acquired Yasso Holdings, Inc., a leading frozen Greek yoghurt brand in the United States. The acquisition expanded Unilever's ice cream business in North America. |
| March 2023 | Turkey Hill Dairy LLC | Turkey Hill Dairy LLC reintroduced its highly sought-after ice cream flavour, Graham Slam, featuring delectable graham flavour, delightful chocolate marshmallow cups, and a tempting graham cracker swirl. |
| January 2023 | Lotte Confectionary Co., Ltd | Lotte Confectionary Co., Ltd announced its plan to invest INR 450 crores in its Indian subsidiary, Havmor Ice Cream, over the course of the next five years. |
| July 2022 | Nestle SA | Nestle SA introduced the Nescafe Gold cappuccino ice cream, incorporating real coffee in the ice cream core and employing soft coating technology. |
| Trends | Impact |
| Demand for vegan ice creams | The growing trend towards a plant-based diet and the prevalence of lactose intolerance among the population is driving up the demand for vegan ice creams made of soy, almond, cashew, coconut, and rice milk. |
| The wide availability of ice creams | Ice cream's easy accessibility in supermarkets, convenience stores, and online platforms ensures widespread availability, making it a convenient and accessible dessert option for consumers. |
| Sustainability in ice cream production | Ice cream manufacturers are enhancing their sustainability by adopting energy-efficient production processes and biodegradable and recyclable packaging. |
| Consumption of premium artisanal ice creams | With an increasing focus on unique flavours, premium ingredients, and artisanal craftsmanship, ice cream enthusiasts seek out elevated taste sensations, driving the popularity of premium ice cream products. |
As consumer preferences continue to shift and diversify, staying ahead of the curve with creative and unique ice cream offerings can capture the attention of new customers and retain existing ones. By introducing novel flavours, textures, and ingredient combinations, ice cream manufacturers can create an engaging and delightful experience for consumers, encouraging repeat purchases and building brand loyalty.
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Global Ice Cream Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Flavour | Chocolate, Fruit, Vanilla, Others |
| Category | Impulse Ice Cream, Take-Home Ice Cream, Artisanal Ice Cream |
| Product Type | Cup, Stick, Cone, Brick, Tub, Others |
| End Use | Food Service, Retailers |
| Sales Channel | Supermarkets and Hypermarkets, Convenience Stores, Ice cream parlors, Hotels and Restaurants, Online, Others |
| Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Chocolate is expected to hold a significant ice cream market share as chocolate flavoured ice creams are versatile products
According to the ice cream market analysis, chocolate-flavoured ice creams are versatile and find use in preparing various ice cream-based shakes, cold coffees, and smoothies. Further, cocoa used to produce chocolate ice cream is rich in flavanol, which can improve cardiovascular health.
Vanilla is a globally popular flavour. Consumers who are not very fond of strong flavours or scents prefer vanilla ice creams that are creamy and lightly flavoured.
The use of natural fruits, either canned or fresh, in ice creams, aids their demand among consumers demanding healthier ice cream versions. Consumer interest in premium and healthy ice creams supports the demand for fruit-flavoured ice creams.
The impulse ice cream segment is expected to hold a significant ice cream market share owing to various strategies adopted by retail stores
Retail stores use point-of-sale (PoS) materials and branded cabinets placed strategically in visible locations to support impulse ice cream sales. The warmer months are crucial for impulse ice cream sales in varied formats, such as cups, cones, and sandwich ice creams.
Factors influencing the demand for take-home ice creams are improved packaging and widespread availability of family packs and bricks support the market for take-home ice creams. Vegan artisanal ice creams made with organic ingredients, which are sugarless and low-fat are rising in popularity as a healthy indulgence. Ice cream parlours often provide a wide variety of artisanal and gourmet ice cream flavours, allowing customers to explore and indulge in unique taste experiences.
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Market players compete to offer high-quality products at different price points for each type of consumer.
| Company Name | Year Founded | Headquarters | Products/Services |
| Unilever plc | 1872 | London, United Kingdom | Ice cream brands: Wall’s, Ben & Jerry’s, and Magnum. Others: Soaps, shampoos, and everyday household care products, etc. |
| General Mills, Inc. | 1928 | Minnesota, United States | Ice cream brands: Häagen-Dazs Others: Snacks, nutrition bars, frozen hot snacks, wholesome natural pet food, etc. |
| Ashby's Ice Cream | 1984 | Michigan, United States | Ice cream, sherbet, sorbet, yogurt, and no-sugar-added/low-fat ice cream, etc. |
| Tillamook County Creamery Association | 1909 | Oregon, United States | Ice cream, cheese, yoghurt, cream cheese spread, sour cream, and butter. |
Other key players in the ice cream market include Gujarat Cooperative Milk Marketing Federation Limited (Amul), Turkey Hill Dairy, HP Hood, LLC, Wells Enterprises, Inc, Dairy Farmers of America, Inc., Nestlé S.A., Lotte Confectionary Co, Ltd, The Kroger Company, Meiji Holdings Co, Ltd, and Danone S.A., among others.
Asia Pacific is a prominent region for ice creams due to the rising popularity of ice cream parlours
According to ice cream market analysis, investments in frozen foods, including frozen dairy products, in countries like China and the fast-gaining popularity of ice cream parlours in India support the growth of the market. Small regional brands and shops in the region are increasingly innovating ice creams inspired from the local flavours to expand their customer base. Wafer-thin ice cream called Thai Rolled Ice Cream, is popular in Southeast Asian countries like Thailand, Malaysia, Cambodia, and the Philippines, where it is frequently sold by street vendors.
In Europe regulations based on ice cream production ensure their high quality. For instance, Germany has stringent regulations dealing with various kinds of ice cream and their ingredients. For instance, milk ice cream must be 70% milk, ice cream must have 10% milk fat, and cream ice cream should consist of 50% milk and at least 270 grams of egg per litre. This further ensures the production of high-quality ice cream.
Figure: Top 5 Ice Cream Exporters in the European Union, 2022 (Million Kilograms)
| Country | Exports (Million Kilograms) |
| France | 53 |
| The Netherlands | 42 |
| Italy | 31 |
| Germany | 28 |
| Belgium | 23 |
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Flavour |
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| Breakup by Category |
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| Breakup by Product Type |
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| Breakup by End-Use |
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| Breakup by Sales Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global ice cream market attained a value of nearly USD 83.24 billion.
The ice cream market is expected to grow at a CAGR of 4.3% between 2024 and 2032.
The market is estimated to witness healthy growth during 2024-2032 to reach around USD 121.94 billion by 2032.
Commercially-produced vegan ice creams are produced from plant-based ingredients, such as soy, almond, coconut, or rice milk.
The major drivers of the market, such as its inclusion in numerous desserts and beverages, an expansion of ice cream parlours, and the proliferation of online food delivery services, are expected to aid the market growth.
The key trends propelling the market growth include rising demand for healthier ice creams, the wide availability of ice creams, and the expansion of the food service sector are driving the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Based on sales channels, the market can be segmented into supermarkets and hypermarkets, convenience stores, ice cream parlours, hotels and restaurants, and online, among others.
The major players in the market are Unilever plc, General Mills, Inc., Ashby's Ice Cream, Tillamook County Creamery Association, Gujarat Cooperative Milk Marketing Federation Limited (Amul), Turkey Hill Dairy, HP Hood, LLC, Wells Enterprises, Inc., Dairy Farmers of America, Inc., Nestlé S.A., Lotte Confectionary Co, Ltd, The Kroger Company, Meiji Holdings Co, Ltd, and Danone S.A., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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