Ice Cream Market Share, Trends, Growth, Research Report, 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Ice Cream Market


The global ice cream market size was valued at USD 54.80 billion in 2016 and is expected to grow at a CAGR of 4.1% over the forecast period. The rising demand for innovative flavors and formats and growing demand for impulsiveness to consume the product in developing countries is expected to drive the market growth during the forecast period. Asia Pacific, Latin America, and MEA region is expected to drive the market growth during the forecast period. However, the share of North America and Europe is expected to decline owing to growing number of health-conscious consumers in the region
 
There has been growing demand for the product in Asia Pacific countries such as India and China owing to large consumer base and favorable climatic conditions for consumption of ice creams. There is a growing demand for lactose free product across the globe. The increase in demand for lactose-free product is driven by increase in case of food intolerances and allergies. Thus, the consumers having lactose intolerance pick lactose-free ice creams. Also, these products are opted by the consumers who are health conscious and prefer healthy foods. Lactose intolerant patient is not able to digest lactose which is sugar found in milk and dairy products. As per the U.S. National Library of Medicine, around 65.0% of human population is lactose intolerant. This condition is also common in people of Italian, Greek, Jewish, Arab, and West African descent
Companies are introducing many new and innovative flavors in the ice cream segment to increase their revenue. For instance, in 2017, Ben & Jerry's introduced three new flavors in summer to increase their sale. These flavors include Oat of this Swirled, Truffle Kerfuffle and Urban Bourbon. The introduction of new flavors is expected to drive the sales growth by value, thereby increasing the overall market growth. Rising demand for premium products has led to decline in sales of low quality ice creams and the trend is expected to continue during the forecast period which is anticipated to drive the sales value of ice creams especially in developed regions such as North America and Europe
In 2014, China overtook U.S. to become the largest market both in terms of value and volume. Consumers in the country consider ice cream as snack and it is one of the main reasons for the growing consumption of this product in the country. However, sales volume has decreased in last few years owing to growing number of health-conscious consumers who refrain from consuming any type of ice cream in order to cut down their sugar consumption levels.

Market Segmentation, Outlook & Viewpoint: Global Ice Cream Market


Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Impulse

Artisanal

Take Home


Key Players, Recent Developments & Regional Insights: Global Ice Cream Market


Based on product, the market is segmented into impulse, artisanal, and take-home. Impulse segment held the largest share as of 2016. Impulse ice creams are bought for immediate consumption. These include cups, cones, ice-lollies, sandwiches, ice cream bars, and sticks. The impulse segment has outgrown the take-home segment in 2016 and is expected to dominate the market during the forecast period. Ice cream is likely to remain an impulse purchase as manufacturers in the developing regions have failed to lure consumers with their bulk products
Artisanal ice cream holds a small share in the global market in 2016. The segment is expected to witness decent growth during the forecast period. The growth is attributed to the rising demand for hand-made ice creams containing high quality ingredients. Take home products are immensely popular in developed regions such as Western Europe and North America. Innovations in packaging is also contributing to the growing demand for take home products as these new packs are more convenient to carry and store as compare to old ones

Regional Insights
The ice cream market is dominated by various countries which includes China, U.S, Japan, Brazil, Italy and Germany. Asia Pacific held the largest market share in 2016 and is expected to dominate the market over the forecast period. Growth is shifting towards emerging countries such as China, India, Brazil, Indonesia, Vietnam, and South Africa and developed regions such as North America and Europe are expected to show slow growth during the forecast period.
 
The demand for premium products especially in developed regions such as North America and Western Europe is expected to drive the market growth in terms of sales value during the forecast period. However, the volume consumption of ice cream is expected to decline in these regions owing to growing number of health-conscious consumers who refrain from its consumption.
Latin America and MEA are also expected to show decent growth over the forecast period owing to rising demand of ice creams from younger demographics and emerging middle class. The prolonged summer season in the MEA region is also expected to drive the demand for ice creams in countries such as South Africa, Saudi Arabia and Israel.
Ice Cream Market Share Insights
Some of the key players in the market are Unilever Group, Nestle S.A., General Mills, Inc., Mars, Blue Bell Creameries. There are numerous small and mid-size players in individual countries which also contribute to the overall market. Manufacturers are introducing new flavors and formats to enhance their sales volume which has been decreasing especially in developed regions such as North America and Western Europe.

Key Insights Covered: Global Ice Cream Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Ice Cream industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Ice Cream industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Ice Cream industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Ice Cream industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Ice Cream industry.

Research Methodology: Global Ice Cream Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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