Ice Cream Market, 34% of Growth to Originate from North America, Technavio

NEW YORK, May 22, 2024 /PRNewswire/ -- The global ice cream market size is estimated to grow by USD 29.58 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 5.99% during the forecast period.

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Region Outlook

1. North America
2. Europe
3. APAC
4. South America
5. Middle East and Africa

1. North America - Technavio's analysts highlight key trends and drivers in the North American ice cream market. In 2023, the US led the region in ice cream revenue. The market's growth is supported by numerous new product launches and increased investments by companies. Suppliers are expanding production capacities to meet rising consumer demand.

Health-conscious consumers are driving demand for low-fat and plant-based ice cream, with products like Breyers' oat milk-based ice cream bars becoming popular. The trend towards low-calorie options is also notable, indicating strong growth potential for the regional market during the forecast period.

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Segmentation Overview

1. Product 
• 1.1 Impulse
• 1.2 Take home
• 1.3 Artisanal
2. Type 
• 2.1 Dairy
• 2.2 Non-dairy
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Fastest growing segment: The impulse ice cream segment is set to grow significantly during the forecast period. This includes ice cream bars, sandwiches, lollies, cones, cups, and sticks, purchased for immediate consumption. Factors such as a desire for indulgence and demand for small-portion snacks are driving this trend. Companies are investing in innovative marketing campaigns to attract consumers.

For example, Unilever's 'Talking Ice Cream' campaign, featuring experiential activities and social media promotions, is noteworthy. Additionally, the rising popularity of dining out will further support the growth of this segment. These factors are expected to lead to high growth in the impulse ice cream market.

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Research Analysis

The ice cream market encompasses a wide range of innovative and delightful frozen desserts, including impulse ice creams, cones, sandwiches, and pops. Consumers are increasingly conscious of their health, leading to a growing demand for premium ice creams with functional ingredients, such as plant sterols and lecithin.

New companies are entering the market with organic, herbal, and exotic flavors, expanding the product range beyond traditional choices like Belgian Chocolate, Alphonso Mango, Triple Chocolate, Exotic Strawberry, Blueberry Cheesecake, and Natural's Ice Cream. Gourmet Ice Cream has become a key trend, catering to those seeking high-quality and unique flavor experiences.

Frozen desserts continue to offer consumers a delightful indulgence, with natural and synthetic ingredients used to create a diverse array of ice cream products and flavors, such as Orange Chocolate.

Market Overview

The Ice Cream Market is a significant sector within the global food industry, known for its ability to bring joy and refreshment to consumers worldwide. This market encompasses a wide range of products, including dairy-based, non-dairy, and low-calorie options. The industry is driven by various factors, such as increasing consumer preference for convenience, growing health awareness, and the introduction of innovative flavors and product varieties.

Additionally, the market is influenced by trends like the rise of plant-based diets and the growing popularity of artisanal ice cream. The market is segmented by product type, distribution channel, and region, with each segment exhibiting unique growth dynamics. Overall, the Ice Cream Market is expected to continue its growth trajectory in the coming years, driven by these and other market trends.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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