Ice Cream Market Overview:
Global Ice Cream Market was valued at $68,072 million in 2016, and is projected to reach $97,301 million by 2023, registering a CAGR of 5.4% from 2017 to 2023. Ice cream is dairy product, which is sweetened with either natural sugar or artificial sweeteners. Various ice creams are provided by the companies present in the market, including hard ice cream, soft ice cream, light ice cream, low-fat ice cream, and others. Summer is an undisputed season for the consumption of ice cream and related products. The growth of the industry is driven by availability of various flavored ice creams. As a result, the ice cream consumers pay a premium price for these products, which in turn increases the revenue of the market. However, the health concerns associated with ice creams restrain the market growth.
The global ice cream market is segmented based on sales type and geography. On the basis of sales type, the market is categorized into impulse ice cream, take-home ice cream, and artisanal ice cream. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global Ice Cream Market Segmentation
Asia-Pacific is expected to witness the highest growth rate, owing to rise in demand from the emerging economies such as India, China, Indonesia, and others. Moreover, increased disposable income and rise in standard of living boost the market growth. India and China are projected witness significant growth during the forecast period.
Top Investment Pockets
Australia is the most attractive market for ice cream manufactures. Ice cream market in Australia is approximately 10% of the overall countrys food industry. Hypermarkets & supermarkets were the second leading distribution channel in Australia. However, the hypermarkets & supermarkets are believed to be the fastest growing distribution channel in the country. Sweden and UK are the attractive markets from European region owing to the growing regional demand.
Global Ice Cream Market: Top Investment Pockets, by Country
In 2016, the take-home segment accounted for the highest share in 2016, growing at a CAGR of 5.3% from 2017 to 2023.The growth is projected because of increased disposable income, the introduction of new flavors from the manufacturers, and increased consumption of ice-cream as a snack option boosts the market for ice cream products.
The LAMEA region accounted for one-sixth of the global ice cream market in 2016 and is projected to witness a CAGR of 5.8% during 2017 to 2023. Brazil accounted for approximately 50% of the LAMEA ice cream market. UAE is projected to register the highest CAGR of 10.2% during 2017 to 2023.
UAE Ice Cream Market, 2016-2023 ($Million)
The key players profiled in the report include Unilever Group Nestle S.A., General Mills, Inc., Mars, Blue Bell Creameries, Lotte Confectionery, Wells Dairy Inc., Turkey Hill, Mihan Dairy Inc., and Meiji Holdings Co. Ltd.
The other key market players (not profiled in this report) in the value chain include United Kaipara Dairies Company, Pure Ice Cream Company, International Foodstuffs Co., Baskin-Robbins, Cold Stone Creamery, and International Dairy Queen, Inc.
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global ice cream market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies and the prevailing market opportunities.
- Key market players and the strategies and developments are profiled to understand the competitive outlook of the market.
Ice Cream Market Key Segments:
By Sales Type
- Impulse Ice Cream
- Take-home Ice Cream
- Artisanal Ice Cream
- North America
- Rest of Europe
- New Zealand
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA