Ice Cream Market Size, Share & Trends Analysis Report By Product Type (Impulse, Artisanal, Take Home), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2018 - 2025

Industry Insights

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 the MEA region are expected to drive market growth during the forecast period. However, the share of North America and Europe is expected to decline owing to the growing number of health-conscious consumers in the region

There has been a growing demand for the product in Asia Pacific countries such as India and China owing to a large consumer base and favorable climatic conditions for the consumption of ice creams. There is a growing demand for lactose-free products across the globe. The increase in demand for lactose-free products is driven by an increase in the cases of food intolerances and allergies. Thus, the consumers having lactose intolerance pick lactose-free ice creams. Also, these products are opted by consumers who are health conscious and prefer healthy foods. Lactose intolerant patient is not able to digest lactose which is a sugar found in milk and dairy products. As per the U.S. National Library of Medicine, around 65.0% of the 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 sales growth by value, thereby increasing the overall market growth. Rising demand for premium products has led to declining 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 the U.S. to become the largest market both in terms of value and volume. Consumers in the country consider ice cream as a 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 the last few years owing to the growing number of health-conscious consumers who refrain from consuming any type of ice cream in order to cut down their sugar consumption levels.

Product Insights

Based on product, the market is segmented into impulse, artisanal, and take-home. The 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 are also contributing to the growing demand for take-home products as these new packs are more convenient to carry and store as compared to old ones

Regional Insights

The ice cream market is dominated by various countries which include China, the 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 the 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 the rising demand for 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 that 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.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the Ice Cream market on the basis of product and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Impulse

  • Artisanal

  • Take Home

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Italy

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa (MEA)

    • South Africa