Global Ice Cream Market to Grow at a CAGR of 4.3% During 2024-2032, Aided by the Increasing Demand for Artisanal Ice Cream

The global ice cream market growth is driven by the availability of ice cream on different channels and the rising demand for artisanal ice cream in the market. Ice cream manufacturers are innovating with a range of toppings and mix-ins to elevate their products and attract a broader customer base. The surge in demand for artisanal ice cream reflects a consumer shift towards distinctive and premium desserts. Crafted with unique flavours, premium ingredients, and traditional methods, artisanal ice cream appeals to those craving a truly indulgent and authentic frozen treat.

Table: Global Milk and Milk Products Production by Region, KMT, 2020-2023

To meet evolving consumer demands, manufacturers are diversifying their product offerings with functional ingredients, organic options, and unique flavours. According to industry reports, there is a growing trend of utilising functional ingredients like plant sterols and lecithin to emphasize the health benefits of frozen desserts. Additionally, there is a shift towards replacing synthetic ingredients with alternatives like Propylene Glycol Monoester (PGME) in ice cream formulations.

In response to evolving consumer preferences, ice cream manufacturers can drive customer engagement and loyalty by pioneering inventive and distinct offerings. By introducing innovative flavors, textures, and ingredient pairings, manufacturers can captivate new audiences while retaining current customers, creating lasting brand connections.

Technological innovations in freezing and production have transformed the ice cream sector, introducing methods like low-temperature extrusion and cryogenic freezing for premium-quality products. These advancements present new avenues for industry players. Ice cream's versatility extends beyond retail to foodservice and catering, serving as a versatile ingredient in diverse dessert offerings, highlighting its broad market appeal and potential.

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Market Breakup by Flavour, Category, Product Type, End Use, Sales Channel, and Region:

• The market is segmented based on flavour into chocolate, fruit, and vanilla, among others.

• Based on category, the market can be divided into impulse ice cream, take-home ice cream, and artisanal ice cream.

• On the basis of product type, the market is categorised into cup, stick, cone, brick, and tub, among others.

• The market on the basis of end use is divided into food service and retailers.

• The market on the basis of sales channel is divided into supermarkets and hypermarkets, convenience stores, ice cream parlours, hotels and restaurants, and online, among others.

• By region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East And Africa.

Key Findings of the Report:

• The rise in veganism and lactose intolerance is fuelling the demand for plant-based ice creams, using ingredients like soy, almond, cashew, coconut, and rice milk.

• Ice cream producers are boosting sustainability through energy-efficient operations and eco-friendly packaging choices.

• Demand for premium artisanal ice creams is rising as consumers prioritise unique flavours, high-quality ingredients, and artisanal craftsmanship, seeking elevated taste experiences.

• Key drivers of ice cream market growth include widespread distribution across multiple channels, increasing consumer demand for natural and healthier products, and the proliferation of ice cream parlors, expanding accessibility and customer reach.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for ice cream for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the flavour, category, product type, end use, sales channel, and regions of the ice cream market.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global ice cream market are Unilever plc, General Mills, Inc., Ashby's Ice Cream, Tillamook County Creamery Association, Gujarat Cooperative Milk Marketing Federation Limited (Amul), Turkey Hill Dairy, HP Hood, LLC, Wells Enterprises, Inc, Dairy Farmers of America, Inc., Nestlé S.A., Lotte Confectionary Co, Ltd, The Kroger Company, Meiji Holdings Co, Ltd, and Danone S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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