The Latin America ice cream market size reached a value of about USD 4.02 billion in 2021. The market is expected to grow at a CAGR of 2.80% between 2023 and 2028 to attain about USD 4.75 billion by 2027.
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In June 2022, Nestlé S.A. partnered with Lowko to launch Lowko Pops Milk, a popsicle containing zero calorie and zero sugar to offer healthy indulgence, in Brazil. The popsicle would feature “Best Made With Ninho” endorsement while offering the unique flavour, texture, and creaminess of the product. It would be topped with a sugarless white chocolate cone mixed with Ninho milk. Moreover, the popsicle is rich in vitamins C, A, E, and D, calcium, minerals, zinc, and iron. Such partnerships are positively influencing the Latin America ice cream market development.
In April 2022, Leite Moça® launched Moça® Sorvete, a ready-mix for ice cream preparation to offer enhanced flavour, quality, versatility, and practicality to consumers. The product offers consumers the convenience of preparing desserts at home and yields an average of 1-1.5 litres. Through the launch, the company debuted in the category of ready-to-eat dessert mixes while providing an economical option to prepare ice cream at-home.
In August 2021, Delizia, a Bolivian dairy brand, launched its limited-edition ice cream flavours that celebrate the country’s regional identities and diverse population. Their Tradición’ line includes huminta from the Cochabamba Valley, rice pudding from eastern Bolivia, and api from the country’s highlands, and two more flavours were slated to be introduced in September. The launches of innovative ice creams are driving the Latin America ice cream market growth.
In August 2021, Delizia, a Bolivian dairy brand, launched its limited-edition ice cream flavours, including huminta from the Cochabamba Valley, rice pudding from eastern Bolivia, and api from the country’s highlands that celebrate the country’s regional identities and diverse population.
In February 2021, La Michoacana, a Mexican ice cream brand, launched its line of dairy-free ice cream pops. The ice-creams are available in three coconut cream-based flavours, Piña Colada, Coconut & Strawberries ‘N Cream, and Horchata with Strawberries and can be found in retail stores such as Costco and Walmart, among others.
In February 2021, The Live Green Co expanded its plant-based portfolio to add plant-based and clean-labelled ice creams. The gluten-free ice cream line up is made up of natural ingredients such as avocados, bananas, and sunflower seeds. The company had developed the new lineup of ice creams by using its AI-powered technology to shorten the R&D process to 90 days.
In November 2020, Notco expanded its NotIceCream ice cream flavours to add Banana Split and Dulce de Leche Temptation, along with its strawberries and cream and chocolate chip flavours in Argentina. The new NotIceCreams would be available in major supermarket chains like Jumbo, Carrefour, Disco, Coto, and Walmart; online shops like Rappi, Pedidos Ya, and Glova; and health food shops in the country.
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Ice creams refer to frozen treats that are typically made from pasteurisation and homogenisation of cream, milk, and sugar. Various fruits, nuts, candies, and other condiments are also incorporated to develop ice creams with diverse textures and flavours. They are one of the most widely consumed desserts and are widely available in supermarkets, hypermarkets, online stores, and grocery stores, among others.
The growing disposable income, coupled with rapid urbanisation, in Latin America is bolstering the demand for ice creams.
Consumers are increasingly attempting to cosmopolitanise their food palate, due to which the demand for ice creams with exotic and international flavours in Latin America is growing.
With the growing health-consciousness in the region, the demand for low-fat and low-calorie ice creams containing functional ingredients is surging. Thus, manufacturers are preparing ice creams incorporated with health-supporting flavour ingredients such as turmeric, ginger, and herbs, among others.
Innovations in ice cream storage to reduce greenhouse emissions and energy use are likely to augment the market growth.
Due to low switching cost and the availability of a variety of options and sales channel, the customers can easily switch to other ice cream brands.
The transportation and storage of ice creams require high temperatures at all times, due to which they can easily lose their shape and form in case they are not transported or stored at the right temperature. This can also impact their taste, flavour, and quality.
Based on flavour, the market can be segmented into chocolate, fruit, and vanilla, among others. The market, on the basis of category, is divided into impulse ice cream, take-home ice cream, and artisanal ice cream. By product type, the market is categorised into cup, stick, cone, brick, and tub, among others. Based on distribution channels, the market can be classified into supermarkets and hypermarkets, convenience store, ice cream parlours, and online stores, among others.
The major countries covered in the Latin America ice cream market report are Brazil, Argentina, Mexico, and Chile, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, expansion plans, and investments.
Supermarkets and hypermarkets offer various products under one roof, frequently offering discounts and lower prices. Similarly, convenience stores enhance the accessibility of diverse food and beverage products. The expansion of these chains and stores in the region and boosting the sales of ice creams. For instance, in March 2022, Femsa announced that it would open 1000 Oxxo stores across Chile, Mexico, Colombia, and Brazil. Moreover, they are also launching cost-effective and indulgent ice creams, which is likely to aid the Latin America ice cream market growth.
Some of the most famous ice cream parlours across the globe, such as Coppelia Ice Cream Parlor, El Taller, and Heladeria Cadore, among others, are present in Latin America. They offer authentic and premium ice creams compared to mass-produced ice creams, due to which they are increasingly preferred by locals and tourists alike. In addition, the growing demand for ice creams from at-home segment, especially after the COVID-19 pandemic, is enhancing their sales from online channel owing to the enhanced convenience and doorstep delivery offered by these stores.
Impulse ice creams are single-serving and ready-for-consumption, and are extensively preferred on-the-go. Such ice creams are also popular among children, especially in the summer season. To capitalise on their popularity, leading manufacturers are expanding their portfolios and developing impulse ice cream with diverse textures and flavours. With technological advancements and the elimination of placement and quality issues, the manufacturing of impulse ice cream is likely to increase significantly in Latin America.
The demand for take-home ice creams is driven by the rising consumption of ice creams as desserts. Consumers also prefer take-home ice creams due to the increasing trend of indulgence amid the rising stressful lifestyles. Such ice creams are available in diverse formats, which is further propelling their demand.
Additionally, there has been an increasing focus of manufacturers on offering Mexican artisan ice creams made out of fresh fruit, along with innovative flavours such as pistachio, coffee, mango, and lime, among other frozen treats.
Chocolate flavoured ice cream prepared from cocoa is rich in a chemical called flavanol. As a result, it contains natural chemicals to reduce the risk of cardiovascular diseases and is known to uplift the mood. Meanwhile, fruit-flavoured ice creams offer nutritional and flavour profiles similar to natural fruits.
Vanilla-flavoured ice cream is extensively used in various desserts to boost their flavour profiles. Within the region, there is a surge in the demand for ice creams with natural and clean-labelled ingredients, thereby compelling manufacturers to innovate their offerings.
In Brazil, there is an increased demand for ice creams containing native fruits and flavours, among others. The expansion of ice cream stores by the leading companies in the country is further augmenting the overall Latin America ice cream market growth.
In August 2021, Jundiá Foods, a supplier of products like ice creams to ice cream parlours, convenience stores, and other food service establishments, announced its decision to expand its geographic area of operation and its aim to open ten physical retail units in the cities of Bauru, Jundiaí, and the interior of São Paulo.
The growing disposable incomes and the rapid urbanisation are boosting the sales of premium and artisan ice creams in Argentina and Chile. Ice creams are increasingly consumed in social activities and ceremonies owing to their excellent flavour and affordability.
New formats of ice creams with integrated spoons offering enhanced convenience are increasingly being launched in these countries owing to the increasing demand for on-the-go ice cream solutions. Various companies are increasingly expanding their operations in the region.
Various companies are also attempting acquisition activities in the region, which is driving the market growth. For instance, in June 2020, Unilever announced the sale process of its ice cream business in Chile to Carozzi. Under the agreement, the company would purchase local brands, Melevi and Bresler, and the license for the Latin America ice cream brands that the company retails such as Fruttare, Calippo, Magnum, Vienetta, Carte D’or, and Cornetto.
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Sorvetes Jundiá Indústria E Comércio LTDA is the third leading Brazilian ice cream company that has above 30,000 points of sale across the country. It has a range of more than 80 products and is the leading impulse ice cream provider in the interior of Sao Paulo. It deploys modern technology to ensure the optimal quality and flavour of ice creams and innovate its offerings throughout the year.
Arcor Sociedad Anónima, Industrial Y Comercial is a leading multinational company of consumer food products, packaging, and agribusiness, based in Argentina. It is also the leading confectionery exporter in Chile, Peru, and Argentina. The company has above 40 industrial plants and 20,000 employees. Some of the company’s leading brands include Criollitas, Cofler, Formis, Mogul, and Godet, among others.
Unilever PLC is a consumer goods company based in Britain. It has about 400 brands and 148,000 employees across the globe. With a presence in more than 190 countries, its products benefit about 3.4 people each day. 13 of its brands had a turnover of above EUR 1 billion in 2021. Some of the leading businesses of the company include personal care, beauty and wellbeing, nutrition, home care, and ice creams.
Froneri Lux Topco S.à r.l. is a Latin America ice cream company with a presence across 24 countries. It is a long-standing license partner of companies like Mondelez and Nestle and has about 10,000 employees. It offers various ice cream products, ranging from sorbet, water ice, and organic ice cream to dairy ice creams and from tubes to sticks to cones. In December 2019, Froneri reached an agreement to acquire Nestle’s US ice cream business for USD 4 billion.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Flavour||
|Breakup by Category||
|Breakup by Product Type||
|Breakup by Distribution Channels||
|Breakup by Region||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 Latin America Ice Cream Market Analysis
8.1 Key Industry Highlights
8.2 Latin America Ice Cream Historical Market (2018-2022)
8.3 Latin America Ice Cream Market Forecast (2023-2028)
8.4 Latin America Ice Cream Market by Flavour
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.5 Latin America Ice Cream Market by Category
8.5.1 Impulse Ice Cream
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.5.2 Take-Home Ice Cream
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.5.3 Artisanal Ice Cream
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.6 Latin America Ice Cream Market by Product Type
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.7 Latin America Ice Cream Market by Distribution Channels
8.7.1 Supermarkets and Hypermarkets
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.7.2 Convenience Store
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.7.3 Ice Cream Parlours
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.7.4 Online Stores
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.8 Latin America Ice Cream Market by Country
8.8.1 Market Share
9 Regional Analysis
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Sorvetes Jundiá Indústria e Comércio Ltda.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12.2.2 Arcor Sociedad Anonima Industrial Y Comercial
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
12.2.3 Unilever plc
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12.2.4 Froneri Lux Topco S.à r.l.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
13 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Ice Cream Market: Key Industry Highlights, 2018 and 2028
2. Latin America Ice Cream Historical Market: Breakup by Flavour (USD Million), 2018-2022
3. Latin America Ice Cream Market Forecast: Breakup by Flavour (USD Million), 2023-2028
4. Latin America Ice Cream Historical Market: Breakup by Category (USD Million), 2018-2022
5. Latin America Ice Cream Market Forecast: Breakup by Category (USD Million), 2023-2028
6. Latin America Ice Cream Historical Market: Breakup by Product Type (USD Million), 2018-2022
7. Latin America Ice Cream Market Forecast: Breakup by Product Type (USD Million), 2023-2028
8. Latin America Ice Cream Historical Market: Breakup by Distribution Channels (USD Million), 2018-2022
9. Latin America Ice Cream Market Forecast: Breakup by Distribution Channels (USD Million), 2023-2028
10. Latin America Ice Cream Historical Market: Breakup by Country (USD Million), 2018-2022
11. Latin America Ice Cream Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Ice Cream Market Structure
In 2021, the market attained a value of nearly USD 4.02 billion.
The market is estimated to grow at a CAGR of 2.80% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 4.75 billion by 2027.
Ice cream is one of the most popular frozen desserts across the world, including Latin America. The versatility, indulgence, and excellent flavour profile of ice cream is significantly driving its popularity across Latin America.
The market is being aided by rising disposable incomes, the development of ice creams with innovative flavours, and the increasing consumption of ice creams in social settings.
Although ice cream is preferred by all age-groups, it is the most popular among the under-15 demographic and geriatric population. Americans over age 55, as per a new study, consume more ice cream per capita compared to any other age group.
The major countries in Latin America are Brazil, Argentina, Mexico, and Chile, among others.
The major flavours of ice cream in the market are chocolate, fruit, and vanilla, among others.
The various categories of ice cream are impulse ice cream, take-home ice cream, and artisanal ice cream.
The market is likely to be bolstered by the premiumisation of ice cream products, the growing demand for ice creams with a blend of native and exotic flavours, and the expanding distribution channels of ice creams.
The different product types of ice cream include cup, stick, cone, brick, and tub, among others.
The significant distribution channels in the market are supermarkets and hypermarkets, convenience store, ice cream parlours, and online stores.
The major players in the market are Sorvetes Jundiá Indústria E Comércio LTDA, Arcor Sociedad Anónima, Industrial Y Comercial, Unilever PLC, and Froneri Lux Topco S.à r.l., among others.
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