Ice Cream Market to Surpass 119.21 billion by 2030 Drives Due to Growing Demand for Inventive Ice Cream Flavors
SkyQuest projects that the ice cream market will attain a value of USD 119.21 billion by 2030, with a CAGR of 4.2% over the forecast period (2023-2030). Several key factors influence the anticipated growth of the ice cream market. One pivotal driver is the escalating demand for inventive ice cream flavors and types, catering to evolving consumer preferences and creating a dynamic market landscape.
Westford, USA, Aug. 29, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the rising popularity of impulse ice cream formats such as cones, sandwiches, and pops, particularly in developing countries, contributes significantly to ice cream market expansion.
Browse in-depth TOC on the “Ice Cream Market”
- Pages – 165
- Tables – 93
- Figures – 76
The global ice cream market is poised for growth, propelled by several key factors. A significant driver is the escalating consumer expenditure on fast food, with ice cream being a popular indulgence. This trend reflects evolving consumer lifestyles and preferences, further bolstered by the convenience and appeal of ice cream products.
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Prominent Players in Ice Cream Market
- Nestle S.A.
- Unilever Group
- General Mills, Inc.
- Mars, Incorporated
- Lotte Confectionery Co., Ltd.
- Blue Bell Creameries L.P.
- Turkey Hill Dairy, Inc.
- The Hershey Company
- Froneri International Limited
- Wells Enterprises, Inc.
- Grupo LALA, S.A.B. de C.V.
- Graeter’s Inc.
- Amul
- Rich Products Corporation
- Agropur Cooperative
- Britannia Industries Limited
- Dean Foods Company
- Yili Group
- Meiji Co., Ltd.
- Gujarat Cooperative Milk Marketing Federation Ltd.
Off-Trade Segment is Expected to Grow the Market Due to the Availability of Discount Coupons for Bulk Shopping
The off-trade segment prominently leads the distribution channels within the global ice cream market. In this sphere, consumer preferences align significantly with purchasing ice cream, primarily from supermarkets and hypermarkets. This inclination is attributed to several factors, with one notable aspect being the availability of discount coupons for bulk shopping that supermarkets often provide.
The market in North America emerges as a region poised for substantial growth within the ice cream market, anticipated to exhibit a CAGR of 3.5% from 2023 to 2030. This projection reflects the changing landscape of consumer preferences and habits. Notably, individuals across North America increasingly prioritize their health and well-being, leading to a discernible shift in dietary choices.
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Bars & Pops Segment is Expected to Dominate the Market Due to Combination of Factors
Bars & pops segment is anticipated to demonstrate noteworthy growth, projecting a growth rate of over 3.0%. This expansion can be attributed to a combination of factors contributing to its appeal in the ice cream market.
Regional markets in the Asia Pacific stand out as a pivotal contributor to the global ice cream market, making a significant impact with a revenue share exceeding 42.0%. The region’s substantial market share is a testament to the burgeoning demand it has been experiencing, particularly among the youth demographic.
A comprehensive analysis of the major players in the ice cream market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Ice Cream Market
- In 2022, Cold Stone Creamery made a significant move by launching its inaugural vegan ice cream offering nationwide. This introduction featured almond milk as a base and an assortment of delectable toppings, catering to the increasing demand for plant-based alternatives in the ice cream market. This strategic launch reflects Cold Stone Creamery’s responsiveness to evolving consumer preferences and dietary choices.
- By introducing new vegan ice cream options, Unilever recently unveiled a noteworthy addition to its magnum brand. This expansion included the release of vegan classic, vegan almond, and vegan hazelnut crunch bars, all designed to align with the growing popularity of vegan products. Available in a range of grocery and convenience stores nationwide, this introduction showcases Unilever’s commitment to catering to diverse consumer needs and capturing a share of the expanding vegan ice cream choices market.
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Key Questions Answered in Ice Cream Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the market, and how these differences shape the market’s future growth?
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