Ice cream market to grow by USD 26,308.74 million from 2022 to 2027; Agropur Dairy Cooperative, Blue Bell Creameries LP, among others identified as key vendors - Technavio

NEW YORK, Oct. 26, 2023 /PRNewswire/ -- The ice cream market size is set to grow by USD 26,308.74 million between 2022 and 2027, and register a CAGR of 5.93%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Get a comprehensive report summary describing the market size and forecast along with research methodology. Read Sample Report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Agropur Dairy Cooperative, Blue Bell Creameries LP, Dairy Farmers of America Inc., Eclipse Foods, Erhard Patissier Glacier, Froneri International Ltd., Gujarat Cooperative Milk Marketing Federation Ltd., Humphry Slocombe Group LLC, Inspire Brands Inc., Lotte Confectionery Co. Ltd., Morinaga and Co. Ltd., Nestle SA, New Forest Ice Cream Ltd., Nightfood Holdings Inc., Oatly Group AB, Perfect Day Inc., Unilever PLC, Vadilal Industries Ltd., Wells Enterprises Inc., and Mars Inc. are some of the major market participants.

Although product launches, the increasing popularity of plant-based ice cream, and increase in the number of ice cream parlors will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Ice Cream Market 2023-2027: Segmentation

• Product 
• Impulse
• Take Home
• Artisanal
• Type 
• Dairy
• Non-Dairy
• Geography 
• North America
• APAC
• Europe
• South America
• Middle East and Africa

By product, the market growth will be significant in the impulse segment during the forecast period. Some of examples of impulse ice creams are ice cream bars, ice cream sandwiches, ice lollies, ice cream cones, ice cream cups, and ice cream sticks. The increasing demand for small-portion snacks is driving the growth of the segment. In addition, vendors in the market are introducing new products and adding new flavors to their existing product lines. They are also investing in new and innovative marketing campaigns to attract consumers. Such factors will foster the growth of the segment during the forecast period.

North America will account for 48% of the market growth during the forecast period. Factors such as the rising number of new product launches and the rising investments by market participants have been crucial in driving the growth of the regional market. In addition, the expansion of production capacities by vendors and the introduction of products comprised of healthy ingredients will drive the growth of the ice cream market in North America.

The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market. Download a Sample Report

Ice Cream Market 2023-2027: Vendor Analysis and Scope

The global ice cream market is fragmented and the competition in the market is fierce as tastes and preferences shift. There are both large and small businesses operating in the market. When it comes to products, some of them are more specialized than others, and some of them have more resources than others. Product launches and marketing initiatives are examples of how market vendors compete. Vendors distinguish their products by their flavor and product type. The threat of new entrants was moderate in 2022 and is anticipated to remain at the same level throughout the forecast period. Some of the key vendors covered in the report include:

• Agropur Dairy Cooperative - The company offers ice cream under the brand name Iceberg.
• Dairy Farmers of America Inc. - The company offers ice creams such as Bison Crunch Ice Cream, Chocolate Chip Cookie Dough Ice Cream, and Chocolate Reduced Fat Ice Cream.
• Eclipse Foods - The company offers ice creams such as Cookie Butter, Dark Side of the Spoon, and Mint Chip.
• Erhard Patissier Glacier - The company offers ice cream solutions such as TUBS and POTS.
• Froneri International Ltd.
• Gujarat Cooperative Milk Marketing Federation Ltd.
• Humphry Slocombe Group LLC
• Inspire Brands Inc.
• Lotte Confectionery Co. Ltd.
• Morinaga and Co. Ltd.
• Nestle SA
• New Forest Ice Cream Ltd.
• Nightfood Holdings Inc.
• Oatly Group AB
• Perfect Day Inc.

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The report also covers the following areas:

• Ice Cream Market Size
• Ice Cream Market Trends
• Ice Cream Market Analysis

Ice Cream Market 2023-2027: Market Dynamics

• Driver – The market is driven by the increasing popularity of plant-based ice cream. With consumers becoming more health conscious, the demand for plant-based products is increasing steadily. Plant-based food products are rich in folate, magnesium, potassium, and vitamins A, C, and E. These foods lower the risk of cardiovascular disease and other metabolic diseases. Such benefits have increased the demand for plant-based food products, including plant-based ice creams. This has encouraged vendors to introduce a wide variety of plant-based ice cream products, which is driving the growth of the market.
• Trend - The rising popularity of vegan ice cream among millennials is identified as the key trend in the market. The trend of veganism is increasing rapidly among millennials in countries such as Australia, Germany, the United States, and China. In addition, the growing purchasing power of this population segment has increased the demand for vegan alternatives to food products. To capitalize on this trend, vendors are developing novel and inventive vegan ice cream flavors. Thus, the rising popularity of vegan ice cream is expected to have a positive impact on the growth of the market during the forecast period.
• Challenge - The rising number of lactose-intolerant people across the globe is identified as the major challenge hindering the growth of the market. The number of people with lactose intolerance is increasing worldwide. Hence, many consumers opt for products that are free from dairy. Most ice cream products are dairy-based and contain lactose. Therefore, the rising number of lactose-intolerance people across the world will negatively impact the growth of the market during the forecast period. 

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

Ice Cream Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist ice cream market growth during the next five years
• Estimation of the ice cream market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the ice cream market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of ice cream market vendors

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The artisan ice cream market size is expected to increase by USD 4.74 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.96%. The market is segmented by distribution channel (offline and online) and geography (North America, APAC, Europe, South America, and MEA).

The vegan ice cream market size is expected to increase by USD 1.55 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.49%. The market is segmented by product (take home, impulse, and artisanal) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global ice cream market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global ice cream market 2017 - 2021 (USD million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 (USD million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 (USD million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (USD million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (USD million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Impulse - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Impulse - Market size and forecast 2022-2027 (USD million)
• Exhibit 35: Data Table on Impulse - Market size and forecast 2022-2027 (USD million)
• Exhibit 36: Chart on Impulse - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Impulse - Year-over-year growth 2022-2027 (%)

• 6.4 Take home - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Take home - Market size and forecast 2022-2027 (USD million)
• Exhibit 39: Data Table on Take home - Market size and forecast 2022-2027 (USD million)
• Exhibit 40: Chart on Take home - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Take home - Year-over-year growth 2022-2027 (%)

• 6.5 Artisanal - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Artisanal - Market size and forecast 2022-2027 (USD million)
• Exhibit 43: Data Table on Artisanal - Market size and forecast 2022-2027 (USD million)
• Exhibit 44: Chart on Artisanal - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Artisanal - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product (USD million)
• Exhibit 47: Data Table on Market opportunity by Product (USD million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 48: Chart on Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Dairy - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Dairy - Market size and forecast 2022-2027 (USD million)
• Exhibit 53: Data Table on Dairy - Market size and forecast 2022-2027 (USD million)
• Exhibit 54: Chart on Dairy - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Dairy - Year-over-year growth 2022-2027 (%)

• 7.4 Non-Dairy - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Non-Dairy - Market size and forecast 2022-2027 (USD million)
• Exhibit 57: Data Table on Non-Dairy - Market size and forecast 2022-2027 (USD million)
• Exhibit 58: Chart on Non-Dairy - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Non-Dairy - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 60: Market opportunity by Type (USD million)
• Exhibit 61: Data Table on Market opportunity by Type (USD million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 (USD million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 (USD million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 (USD million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 (USD million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 (USD million)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 (USD million)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 (USD million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 (USD million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 (USD million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 (USD million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 (USD million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 (USD million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 (USD million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 (USD million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Belgium - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Belgium - Market size and forecast 2022-2027 (USD million)
• Exhibit 100: Data Table on Belgium - Market size and forecast 2022-2027 (USD million)
• Exhibit 101: Chart on Belgium - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Belgium - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Canada - Market size and forecast 2022-2027 (USD million)
• Exhibit 104: Data Table on Canada - Market size and forecast 2022-2027 (USD million)
• Exhibit 105: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography (USD million)
• Exhibit 108: Data Tables on Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Agropur Dairy Cooperative 
• Exhibit 115: Agropur Dairy Cooperative - Overview
• Exhibit 116: Agropur Dairy Cooperative - Product / Service
• Exhibit 117: Agropur Dairy Cooperative - Key news
• Exhibit 118: Agropur Dairy Cooperative - Key offerings

• 12.4 Blue Bell Creameries LP 
• Exhibit 119: Blue Bell Creameries LP - Overview
• Exhibit 120: Blue Bell Creameries LP - Product / Service
• Exhibit 121: Blue Bell Creameries LP - Key offerings

• 12.5 Dairy Farmers of America Inc. 
• Exhibit 122: Dairy Farmers of America Inc. - Overview
• Exhibit 123: Dairy Farmers of America Inc. - Product / Service
• Exhibit 124: Dairy Farmers of America Inc. - Key offerings

• 12.6 Eclipse Foods
• Exhibit 125: Eclipse Foods - Overview
• Exhibit 126: Eclipse Foods - Product / Service
• Exhibit 127: Eclipse Foods - Key offerings

• 12.7 Erhard Patissier Glacier 
• Exhibit 128: Erhard Patissier Glacier - Overview
• Exhibit 129: Erhard Patissier Glacier - Product / Service
• Exhibit 130: Erhard Patissier Glacier - Key offerings

• 12.8 Gujarat Cooperative Milk Marketing Federation Ltd. 
• Exhibit 131: Gujarat Cooperative Milk Marketing Federation Ltd. - Overview
• Exhibit 132: Gujarat Cooperative Milk Marketing Federation Ltd. - Product / Service
• Exhibit 133: Gujarat Cooperative Milk Marketing Federation Ltd. - Key offerings

• 12.9 Humphry Slocombe Group LLC 
• Exhibit 134: Humphry Slocombe Group LLC - Overview
• Exhibit 135: Humphry Slocombe Group LLC - Product / Service
• Exhibit 136: Humphry Slocombe Group LLC - Key offerings

• 12.10 Inspire Brands Inc.
• Exhibit 137: Inspire Brands Inc. - Overview
• Exhibit 138: Inspire Brands Inc. - Product / Service
• Exhibit 139: Inspire Brands Inc. - Key offerings

• 12.11 Lotte Confectionery Co. Ltd. 
• Exhibit 140: Lotte Confectionery Co. Ltd. - Overview
• Exhibit 141: Lotte Confectionery Co. Ltd. - Business segments
• Exhibit 142: Lotte Confectionery Co. Ltd. - Key offerings
• Exhibit 143: Lotte Confectionery Co. Ltd. - Segment focus

• 12.12 Mars Inc.
• Exhibit 144: Mars Inc. - Overview
• Exhibit 145: Mars Inc. - Product / Service
• Exhibit 146: Mars Inc. - Key offerings

• 12.13 Nestle SA
• Exhibit 147: Nestle SA - Overview
• Exhibit 148: Nestle SA - Business segments
• Exhibit 149: Nestle SA - Key news
• Exhibit 150: Nestle SA - Key offerings
• Exhibit 151: Nestle SA - Segment focus

• 12.14 Oatly Group AB
• Exhibit 152: Oatly Group AB - Overview
• Exhibit 153: Oatly Group AB - Product / Service
• Exhibit 154: Oatly Group AB - Key offerings

• 12.15 Unilever PLC
• Exhibit 155: Unilever PLC - Overview
• Exhibit 156: Unilever PLC - Business segments
• Exhibit 157: Unilever PLC - Key news
• Exhibit 158: Unilever PLC - Key offerings
• Exhibit 159: Unilever PLC - Segment focus

• 12.16 Vadilal Industries Ltd. 
• Exhibit 160: Vadilal Industries Ltd. - Overview
• Exhibit 161: Vadilal Industries Ltd. - Product / Service
• Exhibit 162: Vadilal Industries Ltd. - Key offerings

• 12.17 Wells Enterprises Inc. 
• Exhibit 163: Wells Enterprises Inc. - Overview
• Exhibit 164: Wells Enterprises Inc. - Product / Service
• Exhibit 165: Wells Enterprises Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 166: Inclusions checklist
• Exhibit 167: Exclusions checklist

• 13.3 Currency conversion rates for USUSD 
• Exhibit 168: Currency conversion rates for USUSD

• 13.4 Research methodology
• Exhibit 169: Research methodology
• Exhibit 170: Validation techniques employed for market sizing
• Exhibit 171: Information sources

• 13.5 List of abbreviations 
• Exhibit 172: List of abbreviations

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