Ice Cream And Frozen Dessert Global Market Report 2024

The ice cream and frozen dessert market size has grown strongly in recent years. It will grow from $101.83 billion in 2023 to $108.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed during the historical period can be attributed to several factors, including consumer preferences for sweet treats, the availability of diverse flavor options, the presence of established brands, the seasonality of summer prompting increased consumption, and the prevalence of a dessert-centric culture.

The ice cream and frozen dessert market size is expected to see strong growth in the next few years. It will grow to $140.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. Anticipated growth in the forecast period can be linked to several factors, notably the preferences of health-conscious consumers, the rise of plant-based and vegan product options, the focus on sustainability with eco-friendly packaging, the influence of digital marketing and e-commerce, and the introduction of innovative flavor combinations. Key trends expected in this period include the popularity of artisan and craft desserts, the emergence of gourmet and premium offerings, the development of protein-enriched desserts, the prominence of ice cream sandwiches and novelties, and the exploration of international and ethnic flavors.

The global population is expanding and is estimated to reach 10 billion by 2050, leading to heightened demand for food. As per 'The Agricultural Outlook' report published by the OECD and FAO, a 13% increase in global cereal production is foreseen by 2027. To accommodate the growing population, trade volumes will need to rise. Consequently, businesses within the food and beverage industry, including those involved in ice cream and frozen desserts, are expected to profit from the amplified demand resulting from the expanding population during the projected period.

The primary categories within ice cream and frozen desserts consist of ice cream and frozen desserts. Frozen desserts are produced by freezing various forms - liquids, semi-solids, and at times solids - intended to be consumed in a frozen state. This category includes variations such as ice creams, sherbets, sorbets, frozen yogurts, and non-dairy frozen desserts. These products are available through supermarkets, hypermarkets, convenience stores, e-commerce platforms, and other distribution channels. Different types within the ice cream and frozen dessert category include ice-cream, gelato, frozen custard, frozen yogurt, frozen novelties, sorbet, and others. The market outlook covers both conventional and sugar-free options, while the end-users span personal and commercial consumption.

The ice cream and frozen dessert research report is one of a series of new reports that provides ice cream and frozen dessert statistics, including ice cream and frozen dessert industry global market size, regional shares, competitors with ice cream and frozen dessert shares, detailed ice cream and frozen dessert segments, market trends and opportunities, and any further data you may need to thrive in the ice cream and frozen dessert industry. This ice cream and frozen dessert research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ice cream and frozen dessert market is poised for growth, driven by the escalating demand for e-commerce. E-commerce involves the online buying and selling of goods and services. It offers consumers the convenience of browsing and purchasing a diverse range of ice cream and frozen dessert products from the comfort of their homes. This convenience not only fosters impulse buying but also encourages repeat business. For example, in August 2023, data from the United States Census Bureau, a government agency in the US, indicated that in the second quarter of 2023, e-commerce estimates increased by 7.5% (equivalent to 1.4%) compared to the same period in 2022, while overall retail sales saw a 0.6% increase (equivalent to 0.4%). Online stores accounted for 15.4% of all sales in the second quarter of 2023. Hence, the surging growth of e-commerce is a driving force behind the expansion of the ice cream and frozen dessert market.

The ice cream and frozen dessert manufacturing market encountered a significant setback in 2020 due to the impact of the COVID-19 pandemic. Trade restrictions disrupted supply chains, and the consumption of these products declined as governments globally imposed lockdowns. COVID-19, an infectious illness characterized by symptoms like fever, cough, and breathing difficulties, originated in Wuhan, China, in 2019 and spread worldwide, affecting regions such as Western Europe, North America, and Asia. Manufacturers in the food and beverage industry rely on raw materials sourced from domestic and international suppliers. With many governments enforcing restrictions on the movement of goods, manufacturers faced production halts due to a scarcity of raw materials. Additionally, trade restrictions on non-essential goods and concerns about contamination within manufacturing facilities contributed to the decline in production. This outbreak's negative impact on businesses is expected to persist throughout 2020 and into 2021. However, the ice cream and frozen dessert manufacturing market is anticipated to recover from this disruptive period over the forecasted period, as this was an unforeseen and unprecedented event not stemming from inherent weaknesses in the market or the global economy.

There's a notable and swift escalation in the demand for clean-label products, driven by heightened consumer consciousness about healthy eating habits. Clean-label dairy products are free from additives, artificial flavor enhancers, dyes, or artificial preservatives. Furthermore, various foodservice and retail grocery store chains are specifying lists of prohibited ingredients in the food items available in their stores or restaurants. For example, the USA-based yogurt brand Siggi’s Dairy has launched clean-label yogurt pouches designed for children, aligning with this trend towards more health-conscious and transparent product offerings.

Key players in the ice cream and frozen dessert market are actively introducing new food products to maintain their market standing. For instance, in May 2023, Beyond Meat Inc., a prominent US-based food company, unveiled three frozen plant-based ready meals at Tesco stores. These meals, including offerings such as Spaghetti Bolognese, Keema Curry & Pilau Rice, and Chili with Coriander Rice, cater to flexitarians, vegetarians, and vegans with busy schedules, providing a plant-based take on traditional comfort foods. Notably, these dishes are easy to prepare and are rich in protein content. These Beyond Meals are available across various Tesco locations throughout the UK, following the launch of Beyond Meat's plant-based chicken in the region.

Major companies operating in the ice cream and frozen dessert market include Nestle S.A., Unilever PLC, Danone S.A., Groupe Lactalis S.A., Frieslandcampina, General Mills, Olam International, Agropur cooperative, Land O'Lakes Inc., Meiji Holdings Co Ltd., Aavin, Abbott's Frozen Custard, Algida, Ample Hills Creamery Inc., Amul, Arun Icecreams, Australian Homemade, Bambino Ice Cream, Baskin-Robbins Homemade Holdings Inc., Ben & Jerry's Homemade Holdings Inc., Berthillon, Blue Bell Creameries, Blue Bunny (Wells enterprises Inc.), Bonnie Doon Ice Cream, Braum's Ice cream & Diary, Bresler's Ice Cream, Breyers, Calippo, Cold Stone Creamery Inc., Coolhaus, International Dairy Queen Inc., Del's, Dole Whip, Elsie Stix- Borden Diary, Fab Ice Creams, Jel Sert Company, Freaky Ice, Froster, Golden Spoon Creamery.

Western Europe was the largest region in the ice cream and frozen dessert market in 2023. Asia-Pacific was the second largest region of the ice cream and frozen dessert market. The regions covered in the ice cream and frozen dessert market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the ice cream and frozen dessert market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The ice cream and frozen dessert market consists of sales of ice cream, frozen ices, frozen yogurts, sherbets, and other frozen desserts (except bakery products). The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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