Market Overview

The Global Ice Cream Market is growing at a CAGR of 4.9% during the forecast period (2019 - 2024).

- The rise in income, along with an increase in demand for sweet dishes, drives the growth of this market.
- Whereas, the new innovative flavors that companies have come up with, act as a major driver for the market. Also, the cheaper price of the private label ice-creams are increasing the demand.
- The sales of low-quality ice cream have been declining, due to the increased preference for premium ice cream.
Scope of the Report

The market study of Ice Cream is available as impulse ice cream, take-home ice cream and artisanal ice cream. By distribution channel, the market is segmented as supermarket/hypermarket, convenience stores, specialist stores and others.

Key Market Trends

Product Innovation is leading the Ice Cream Market

Product innovation can make Ice cream a luxury product. The ingredients added, texture, color, flavor, packaging, the technology used, the circumstances of the purchase and consumption, all these contribute to a premium product. Companies are continuously innovating their products in order to stay in the market. Children are the major consumers of Ice cream, thus companies are producing products as per the interest of children. For instance, Unilever launched a product, Wall's Cornetto Rainbow Pop Ice Cream in Thailand and Indonesia. It is a first rainbow ice cream consisting of popping candy on the top. Companies are also focussing on flavor innovation, for instance, Tasty, one of the largest social food network in the world, has launched four new limited offer flavors, Vanilla Galaxy Twist, Peanut Butter 'S'mores Smash, Chocolate Caramel Pretzel Crunch and White Chocolate Raspberry Lava Cake to attract more consumers.

North America Being the Largest Market for Global Ice Cream Industry

The rise in income along with an increased indulgence for sweet dishes drives the growth of this market. Unilever dominates the global market followed by Nestle. The sales of low-quality ice cream have been declining due to the increased preference for premium ice cream. The innovative flavors that companies have come up with act as a major driver for this market. Moreover, private labeling reduces the price of ice creams, thereby increasing demand. The sales of basic variety ice creams have been declining in favor of premium ones. Currently, the United States is leading the way due to the introduction of handcrafted ice creams, which is relatively linked to market maturity.

Competitive Landscape

The global ice cream market is a highly fragmented market and comprises of regional and international competitors. The most active companies in the market include key players, such as Unilever, Nestle SA and General Mills. Major players are focusing on introducing new products in the market to cater to the interests of the consumers.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support