South America Ice Cream Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Flavor, Category, Form, and Distribution Channel

The SAM ice cream market is expected to grow from US$ 7,024.92 million in 2022 to US$ 9,207.20 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2022 to 2028.

Ice cream manufacturers are developing products with nutritional components, organic herbal fillings, and exotic flavors in product formulation to acquire a competitive advantage and appeal to more consumers. Manufacturers are introducing new exotic flavors such as coconut, lemon, and tropical fruits to adapt to shifting consumers' tastes. Additionally, consumers concerned about their health favor Skinny Cow, a low-calorie and low-fat ice cream brand. As a result, their consumer base is increasing. Additionally, the favorable regulations support the market innovations that were examined. Ice cream manufacturers are investing significantly in product innovation to expand their customer base and meet emerging consumer trends. Many brands and companies are launching innovative limited edition and seasonal flavors for frozen desserts in collaboration with other small players, which is gaining traction among consumers. Therefore, catering premium products with innovative flavors and loaded indulgences to consumers are driving the growth of ice cream market.

Vendors in the ice cream market can attract new customers and expand their footprints in emerging markets by offering products with new features and technologies. This factor is likely to drive the SAM ice cream market at a good CAGR during the forecast period.

SAM Ice Cream Market Segmentation

The SAM ice cream market is segmented on the basis of flavor, category, form, distribution channel, and country. Based on flavor, the market is segmented into vanilla, chocolate, fruit, and others. The chocolate segment dominated the market in 2022 and is expected to register the highest CAGR during forecast period.
Based on category, the market is segmented into conventional and sugar free. The conventional segment dominated the market in 2022 and sugar free segment is expected to register the highest CAGR during the forecast period.
Based on form, the SAM ice cream market is segmented into cups & tubs, bars & sticks, and others. The cups & tubs segment dominated the market in 2022, and the bars & sticks segment is expected to register the highest CAGR during the forecast period.
Based on distribution channel, the SAM ice cream market is segmented into supermarkets and hypermarkets, specialty store, online retail, and others. The supermarkets and hypermarkets segment dominated the market in 2022, and the online retail segment is expected to register the highest CAGR during the forecast period.
Based on country, the SAM ice cream market is segmented into Brazil, Argentina, and Rest of SAM.

General Mills Inc.; Inspire Brands, Inc.; Lotte Confectionery Co., Ltd.; Mars, Incorporated; Nestlé S.A.; and Unilever are among the leading companies in the SAM ice cream market.