Ice Cream Market Report 2025

The ice cream market size has grown strongly in recent years. It will grow from $42.07 billion in 2024 to $44.69 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to brand loyalty, seasonal demand, marketing and advertising, packaging innovations, health and wellness trends, expansion of distribution channels.

The ice cream market size is expected to see strong growth in the next few years. It will grow to $56.96 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to plant-based and alternative ingredient, health-conscious choices, premiumization, personalization trends, sustainability practices, innovative textures and formats. Major trends in the forecast period include innovative flavors and combinations, functional and nutrient-enhanced ice cream, sustainable practices and packaging, local and artisanal focus, indulgent and premium offerings, online and direct-to-consumer sales.

The rising consumer spending on fast food is anticipated to drive the growth of the ice cream market in the future. Consumer expenditure on fast food refers to the total amount of money that individuals and families allocate to fast food items. Both fast food and ice cream are regarded as indulgent and convenient meal options that appeal to similar customer preferences. Fast food establishments often include ice cream as a dessert choice, making it easy for customers to add it to their orders. Furthermore, the increasing café culture among millennials has further elevated consumer spending on fast food. For instance, in 2022, Avika, a Netherlands-based potato processing company, reported that the UK fast food market grew by 9%, rising from US$20.6 billion (£18.9 billion) in 2021 to US$22.45 billion (£20.61 billion) in 2022. Consequently, the rise in consumer expenditure on fast food is expected to boost the ice cream market.

The anticipated growth of the ice cream market is also attributed to the increasing consumption of confectionery products. Confectionery products encompass a diverse range of sweet food items, often rich in sugar or chocolate. Ice cream, being a sweet and indulgent frozen dessert, falls under the category of confectionery products. It is typically crafted with ingredients such as sugar, dairy products, and flavorings, offering a delightful and sweet experience. For instance, in March 2023, the National Confectioners Association reported that total confectionery sales reached $42.6 billion in 2022, reflecting a 15% growth from $36.9 billion in 2021. Consequently, the rising consumption of confectionery products is a significant driver for the growth of the ice cream market.

Product innovations have emerged as a prominent trend, with major companies concentrating on developing innovative offerings to strengthen their market positions. In January 2022, Magnum, a Danish-based Belgian brand of ice cream, introduced a mini-sized multi-pack of vegan ice creams, along with an enhanced recipe for its vegan ice cream line, featuring two popular vegan flavors, Magnum Vegan Classic and Magnum Vegan Almond. The new line, which has earned the PETA Vegan Food Award, delivers the richness and pleasure of a vegan Magnum with the use of pea protein and high-quality Madagascan vanilla, offering a creamy sensation without the inclusion of dairy components.

Major companies in the ice cream market are prioritizing product innovations, including plant-based and low-calorie options, to provide consumers with healthier alternatives while still preserving the traditional indulgence associated with ice cream. Mochi ice cream is a Japanese delicacy made of small balls of ice cream encased in a chewy, sweet rice cake made from glutinous rice flour (mochi), offering a distinct texture and flavor combination. For instance, in March 2023, Mochidoki, a New York-based ice cream company, announced that its mochi ice cream brand is expanding its retail reach to include 40 Amazon Fresh delivery regions, offering five of its most popular flavors: Vanilla Chip, Strawberry, Cake Batter, Vegan Mango, and Vegan Passionfruit.

In December 2022, Ferrero International SpA, an Italy-based family-owned confectionery company, acquired Wells Enterprises, Inc. for an undisclosed amount. This acquisition aims to bolster Ferrero's market presence and accelerate growth in the ice cream sector by integrating Wells Enterprises, leveraging its strong brand portfolio and production expertise to provide a wider range of high-quality products. Wells Enterprises Inc. is a U.S.-based company that produces ice cream and frozen treats.

Major companies operating in the ice cream market include Nestle S.A., Unilever Group Plc, General Mills Inc., Blue Bell Creameries LP, Cold Stone Creamery Inc., American Dairy Queen Corporation, Danone S.A., Lotte Confectionery Co.Ltd., Inspire Brands Inc., Dairy Farmers of America Inc., Turkey Hill Dairy LP, Wells Enterprises Inc., NadaMoo! R&D Room LLC, Mars Inc., Inner Mongolia Yili Industrial Group Co. Ltd., Froneri International Limited, Tilamook CCA, Amul, Amy's Ice Creams, Agropur Dairy Cooperative, Arla Foods AMBA, Chapman's, Prairie Farms Dairy Inc., Giffords Dairy Inc., Van Leeuwen Ice Cream, Adirondack Creamery Inc., Yasso Inc., Graeter's Ice Cream, Jeni's Splendid Ice Creams, Humphry Slocombe, Coolhaus, Ben & Jerry's Homemade Holdings Inc., Häagen-Dazs, Baskins Robbins.

Asia-Pacific was the largest region in the ice cream market in 2024. Asia-pacific is expected to be the fastest-growing region in the ice cream market report during the forecast period. The regions covered in the ice cream market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ice cream market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Ice cream is a frozen delicacy crafted from a mixture of milk, cream, sugar, and sometimes additional ingredients. It often incorporates stabilizers, such as gluten, to enhance the consistency of the mixture, along with sugar or sugar substitutes to impart sweetness.

The main types of ice cream include impulse ice cream, take-home ice cream, and artisanal ice cream. Impulse ice creams are frozen snacks on a stick with a liquid base. They come in various flavors such as chocolate, fruit, and others, and are packaged in cups, cones, sticks, bricks, tubs, and more. Ice cream is available in both dairy and non-dairy categories and is sold in various retail outlets including hypermarkets, supermarkets, ice cream parlors, online retailers, and other channels.

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

The ice cream market consists of sales of gelato, frozen yogurt, sorbet, soft serve, mochi, sherbert, rolled ice cream. 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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