Ice Cream Production in Canada - Industry Market Research Report

Inside scoop: Falling dairy consumption and rising demand for healthier products will likely prevent the industry from expanding

Canadian ice cream producers create various frozen products, including hard and soft ice cream, frozen yogourt, frozen ices and sherbet. Revenue has fluctuated over the past two decades amid a strong decline in domestic consumption of hard ice cream. Weak production activity and lower disposable income caused ice cream revenue to drop drastically during the pandemic. However, higher consumer spending and improving economic conditions led to favourable production and consumption trends, enabling the industry to expand. Similarly, demand for premium, more expensive ice cream rose, as have healthier alternatives, promoting industry growth. However, recent gains have been unable to offset pandemic-related losses. As a result, industry revenue has been declining at a CAGR of 2.6% over the past five years and is expected to reach $980.2 million in 2023. This includes a drop of 0.2% in 2023 alone. This industry comprises enterprises that primarily manufacture ice cream, frozen yogourt, frozen ices, frozen tofu, sherbet and other frozen desserts, except frozen bakery foods, which are covered in this report. The majority of raw inputs comes from the Dairy Farms industry in Canada (11212CA). This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.