Ice Cream Market to be Valued USD167.26 Billion by 2026
An
increase in new variants and flavors of ice cream with rising in disposable
income are driving factors for the growth of ice cream globally.
According to
TechSci Research report “Global Ice
Cream Market By Category (Take-Home
Ice Cream, Impulse Ice Cream, and Artisan Ice Cream), By Product Type (Brick, Tub, Cup,
Cone, Stick, and Others (Ice Cream Sandwiches and Jellies)), By Distribution
Channel (Supermarkets/Hypermarkets, Convenience Store, Specialty Store, and
Others (Push Carts and Online)), By Region, Competition, Forecast &
Opportunities, 2026F” the global ice cream
market is forecast to grow at a rate of over 5.71% to reach USD167.26 billion by
2026F. The market growth is stimulated as a rise in demand for premium ice
cream is observed and consumers are increasingly preferring high quality, unique
ice cream flavors and are willing to pay more for ingredients that they
consider to be innovative. Ice cream manufacturers worldwide, especially in US
and Europe, are launching premium brands and variations on established products
to cater the new and growing consumer preferences. Growing urbanization and
increasing disposable income of consumers results in rising purchasing power of
the consumers. The demand for ice creams in the projected period is likely to
register good growth owing to an increase in population as the ice cream is
served in the form of the dessert or sweet dish among households and in social
gatherings or celebrations. Owing to increase in availability of dairy-free and
vegan ice cream, vendors have introduced products that target consumers who
adhere to vegan or dairy-free diets. Ben & Jerry’s and Breyer’s are all
popular ice cream brands offering almond, soy, or coconut ice cream flavors in
the global ice cream market.
Consumption of ice creams has increased
dramatically in the past few years. The main reason behind this increasing
demand for ice creams is that ice cream contains minerals like calcium and
phosphorus. Calcium is an essential mineral for human body as it maintains
healthy bones and reduces the chances of kidney stones. Ice cream stimulates
the thrombotonin, which is a hormone of happiness and helps in reducing the
levels of stress in the body. Ice cream is made of milk, which contains L-tryptophan,
a tranquilizer that helps in relaxing the nervous system. It also prevents the
symptoms of insomnia. The primary positive factors influencing this industry
are per capita dairy consumption and low imports. The market is expected to
witness significant growth in the forecast period due to the growing demand for
convenience food, along with the improving purchasing power of the consumers. Rapid
advancements in logistics and production processes have enabled manufacturers
to offer ice cream through nearly every restaurant, supermarket, and corner
store. A rise in demand is witnessed as premium ice creams have become a
popular product among health-conscious consumers due to the presence of
high-quality ingredients.
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The global ice
cream market is segmented into category, product type, distribution channel,
region and company. Based on category, the market is segregated into take-home
ice cream, impulse ice cream, and artisan ice cream. Out of these, take-home
ice cream registers a market share of around 43% in 2020 as it has a convenient
packaging, while artisan ice cream is the fastest growing because of health
concerns, as it is free from added preservatives, and crafted with fresh, organic
fruit extract with low sugar. Based on product type segment, the global ice
cream market is segmented into brick, tub, cup, cone, stick, and others. Among
them, bricks are dominating the market due to the high demand of family packs ice
cream. In terms of distribution channel segment, the global ice cream market is
divided into supermarkets/hypermarkets, convenience stores, specialty stores,
and others (Pusk Carts and Online) where supermarkets/hypermarkets dominate the
market and hold the majority share of around 27% in 2020.
In terms of
regional analysis, the global ice cream market is divided into North America,
Europe, Asia-Pacific, South America, and Middle East & Africa. Among these,
North America is dominating the market, due to a large number of populations,
and higher spending of people on food and desserts.
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“The global ice
cream market has the potential to extensively grow as ice cream is mostly
consumed as dessert. Ice cream makers have started manufacturing ice creams in
new flavors that are unique, refined, and complex.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
report
“Global
Ice Cream Market By Category (Take-Home
Ice Cream, Impulse Ice Cream, and Artisan Ice Cream), By Product Type (Cup, Cone,
Stick, Brick, Tub, and Others (Ice Cream Sandwiches and Jellies)), By Distribution
Channel (Supermarkets/Hypermarkets, Convenience Store, Specialty Store, and
Others(Push Carts and Online), By Region, Competition, Forecast &
Opportunities, 2026F” has evaluated the future growth potential of ice
cream globally and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the global ice cream market.
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