Ice cream is a dairy product made with milk, cream, fruits, and artificial or natural flavorings. Some product variants, such as frozen custard and French ice creams, also use eggs as one of the main ingredients. It is sweetened with either natural sugar or artificial sweeteners. It is a rich source of phosphorus, calcium, carbohydrates, thiamine, niacin, riboflavin, folate, and vitamins such as A, C, D, E, K, B-6, and B-12. Consequently, it offers various health benefits, such as strengthening bones, providing energy, reducing blood pressure, stimulating brain functions, and repairing muscle tissue. Various ice cream flavors are available in the market, such as strawberry, chocolate, vanilla, butterscotch, and others.
The global ice cream market size reached US$ 70.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 94.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.14% during 2023-2028.
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Industry Demand:
The global market is majorly driven by the increasing demand for the product, especially among children. In line with this, the rising demand for innovative flavors and the growing demand for impulse ice creams are significantly contributing to the market growth. Furthermore, the escalating health consciousness among the masses is positively influencing the demand for ice creams. Various manufacturers are expanding their product range by including functional ingredients and organic, herbal, and exotic ice cream flavors in product formulations in order to meet the changing consumer demand. Apart from this, the leading manufacturers have been strongly focusing on introducing new varieties in the ice cream category. Consequently, new companies are entering this segment to cater to the growing demand from consumers and food service providers.
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Industry Growth:
With the emerging trend for natural ingredients, multiple brands have been launching new and innovative flavors to augment consumer consciousness toward synthetic ingredients. Moreover, the shifting preference for ice cream as a daily post-meal dessert is propelling the product demand. Besides, the product brands are offering a wide range of products, which include sundaes, fudge, bars, popsicle, and fusions, with a combination of two or more flavors due to consumer curiosity for new flavors. Additionally, extensive research and development activities for the production of innovative product variants are providing a boost to the market. Other factors, including easy availability of the product, rapid urbanization, and inflating disposable incomes of individuals, are expected to drive the global market.
Key Market Segmentation:
Competitive Landscape With Key Players :
Some of the top ice cream brands are:
- Unilever
- Nestle
- Inner Mongolia Yili Industrial Group
- General Mills
Breakup by Flavor:
- Vanilla
- Chocolate
- Fruit
- Others
Breakup by Category:
- Impulse
- Take-Home
- Artisanal
Breakup by Product:
- Cup
- Stick
- Cone
- Brick
- Tub
- Others
Breakup by Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Ice Cream Parlors
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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