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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Ice Cream Market Size
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.
Key Takeaways
- In the USA, ice cream makers churned out around 1.38 billion gallons of ice cream in 2022, with families positioned as the primary customers for ice cream retailers.
- The world consumes around 15 billion litres of ice cream annually.
- In 2022, the European Union produced 3.2 billion litres of ice cream, an increase of 5% over 2021.
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.
Ice Cream Market Report Snapshots
Ice Cream Market Regional Analysis
*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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Key Questions Answered in the Report
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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