Ice Cream Market Report 2024 (Global Edition)

Global Ice Cream Market Report 2024 Market Size Split by Product Type (Sticks/Bars, Cones & Cups, Tubs & Bricks, Others), by Flavor Type (Chocolate, Vanilla, Tutti Frutti, Blends, Others), by Category...

Ice Cream Market Report Description

We have various report editions of Ice Cream Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Ice Cream Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Ice Cream Industry News

In March 2021, In Iowa, Kemps took the position of Dean Goods as Dairy Farmers of America finished purchasing the Dean Foods businesses for USD 433 million. The company acquired the Le Mars milk facility, which has the capacity to process a wide range of Kemps goods, including ice cream and cottage cheese. 

(Source: https://www.desmoinesregister.com/story/money/agriculture/2020/10/07/kemps-subsidiary-dairy-farmers-america-takes-over-le-mars-milk-plant-dean-foods/5909150002/)

Top Companies Market Share in Ice Cream Industry: (In no particular order of Rank)

• Unilever
• Inspire Brands Inc
• General Mills Inc
• Kwality Wall’s
• American Dairy Queen Corporation
• Nestlé
• Blue Bell Creameries
• Cold Stone Creamery
• Danone S A
• NadaMoo
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Ice Cream Market

Which Region will Dominate the Ice Cream Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The ice cream business in North America is booming, with strong growth attributed to changing consumer tastes, new product introductions, and rising demand for decadent and high-quality desserts. Expanding and innovating, the region offers various flavors, forms, and distribution channels, positioning it as a major player in the worldwide ice cream market.

Which Region is Expanding at the Fastest CAGR?

The European region is witnessing an increase in the sales of reagents. The ice cream market in Europe is expanding significantly due to shifting consumer preferences, new product introductions, and rising demand for high-quality, artisanal goods. The market is growing due to the region's varied culinary traditions and strong emphasis on quality. Furthermore, developments in distribution and packaging methods spur expansion and establish Europe as a major participant in the global ice cream industry. 

The current report Scope analyzes Ice Cream Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Ice Cream Market

According to Cognitive Market Research, the global Ice Cream market size was estimated at USD 80512.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 32204.88  million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.8% from 2024 to 2031. The ice cream industry in North America is driven by a number of variables, including changing customer tastes, cutting-edge product offers, and a varied culinary scene. The premium ice cream industry, which is distinguished by artisanal craftsmanship, unusual flavors, and premium ingredients, is one prominent market sector propelling expansion. This market niche serves discriminating customers looking for exceptional and decadent experiences. Premium ice cream brands take advantage of their reputation for quality and innovation by having a strong presence in supermarkets, convenience stores, and specialty shops. In conclusion, the ice cream industry in North America is still growing thanks to product differentiation and strategic segmentation, satisfying a variety of tastes and preferences and embracing artisanal workmanship and premiumization trends.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Ice Cream market with a market size of USD 25409.65 million in 2024 and is projected to grow at a CAGR of 2.6% during the forecast period. The demand is amplified by the nation's consumer demand. 
• The Canada Ice Cream market had a market share of USD 3864.59 million in 2024 and is projected to grow at a CAGR of 3.6% during the forecast period. Canada's rising flavor innovation.
• The Mexico Ice Cream market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 2930.64 million in 2024.

Europe Ice Cream Market

According to Cognitive Market Research, with a market value of USD 80512.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 24153.66 million. Europe's ice cream market is distinguished by a wide range of consumer preferences, a wealth of culinary history, and a love of fine pleasure. The artisanal gelato market is a growing part of the food industry, recognized for its genuine flavors, traditional production methods, and creamy texture. European customers looking for high-end, genuine experiences are drawn to artisanal gelato, which is frequently accessible in neighborhood gelaterias and specialty stores. With a sense of tradition and workmanship, the artisanal gelato market is still growing because customers value quality and authenticity. To sum up, the ice cream market in Europe exhibits a unique combination of innovation and tradition, with the artisanal gelato industry serving as a prime example of the region's dedication to excellence in culinary arts, taste diversity, and quality.

• The United Kingdom Ice Cream market had a market share of USD 4057.81 million in 2024 and is projected to grow at a CAGR of 3.9% during the forecast period. In the UK, Ice Cream sales witness an upswing due to the nation's premiumization trend. 
• The France Ice Cream market is projected to witness growth at a CAGR of 2.3% during the forecast period with a market size of USD 2222.14 million in 2024.
• According to Cognitive Market Research, the Germany Ice Cream market size was valued at USD 4782.42 million in 2024 and is projected to grow at a CAGR of 3.3% during the forecast period. In Germany, Ice Cream sales surge due to the nation's urbanization. 
• The Italy Ice Cream market is projected to witness growth at a CAGR of 2.5% during the forecast period with a market size of USD 2077.21 million in 2024.
• The Russia Ice Cream market is projected to witness growth at a CAGR of 2.1% during the forecast period with a market size of USD 3743.82 million in 2024.
  • The Spain Ice Cream market is projected to witness growth at a CAGR of 2.2% during the forecast period with a market size of USD 1980.60 million in 2024.
• The Luxembourg Ice Cream market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 748.76 million in 2024.
• The Portugal Ice Cream market is projected to witness growth at a CAGR of 2.9% during the forecast period with a market size of USD 507.23 million in 2024.
• The Greece Ice Cream market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 289.84 million in 2024.
• Rest of Europe Ice Cream market is projected to witness growth at a CAGR of 1.8% during the forecast period with a market size of USD 3743.82 million in 2024.

 

Asia Pacific Ice Cream Market

According to Cognitive Market Research, the global Ice Cream market size was estimated at USD 80512.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 18517.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031. The ice cream market in the Asia Pacific area represents a varied fusion of tastes, cultures, and customer preferences. The novelty ice cream market, which is known for its inventive flavors, distinctive forms, and whimsical packaging aimed at younger consumers, is one prominent sector fueling growth. The region's youthful and adventurous population is drawn to novelty ice cream items like character-themed popsicles or ice cream bars with unusual fruit flavors. There is an increasing desire for novelty ice cream experiences due to the burgeoning middle class and increased disposable incomes. In conclusion, the ice cream market in Asia Pacific exhibits a dynamic landscape driven by ingenuity and inventiveness, with the novelty sector grabbing the interest of customers looking for tasty, unusual, and visually appealing products.

• According to Cognitive Market Research, the China Ice Cream market size was valued at USD 8333.01 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period. Ice Cream sales surge in China due to the nation's rapid expansion in teenage poplulation.
• The Japan Ice Cream market is projected to witness growth at a CAGR of 5.1% during the forecast period with a market size of USD 2555.46 million in 2024.
• The India Ice Cream market had a market share of USD 2222.14 million in 2024 and is projected to grow at a CAGR of 8.4% during the forecast period. The demand is augmented by India's increasing urbanization.
• The South Korea Ice Cream market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 1851.78 million in 2024.
• The Australia Ice Cream market is projected to witness growth at a CAGR of 6.3% during the forecast period with a market size of USD 962.93 million in 2024.
• The South East Asia Ice Cream market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 1277.73 million in 2024.
• The Rest of Asia Pacific Ice Cream market is projected to witness growth at a CAGR of 6.4% during the forecast period with a market size of USD 1314.76  million in 2024.

 

South America Ice Cream Market

According to Cognitive Market Research, the global Ice Cream market size was estimated at USD 80512.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 4025.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031. Tropical tastes, a thriving street food culture, and rich culinary traditions are the main drivers of the ice cream sector in Latin America. The artisanal paleta industry, which sells handcrafted frozen delicacies created from fresh fruits, herbs, and other locally obtained ingredients, is one prominent area fueling expansion in the industry. Latin American consumers looking for real, natural delights are drawn to artisanal paletas because of their bright colors and refreshing flavors. The artisanal paleta market, which is well-represented in neighborhood markets, street sellers, and specialized stores, never fails to enthrall customers with its dedication to tradition, quality, and innovation. In conclusion, the ice cream market in Latin America is a prime example of the blending of tastes and cultures, and the artisanal paleta industry is a reflection of the region's love of originality, authenticity, and sensory pleasures.

• According to Cognitive Market Research, the Brazil Ice Cream market size was valued at USD 1722.96 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period. Ice Cream sales flourish in Brazil due to the nation's health and wellness trends.
• The Argentina Ice Cream market had a market share of USD 676.30 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period. The demand is augmented by Argentina's commitment to quality and authenticity.
• The Colombia Ice Cream market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 358.28 million in 2024.
• The Peru Ice Cream market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 330.10 million in 2024.
• The Chile Ice Cream market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 289.84 million in 2024.
• The Rest of Latin America Ice Cream market is projected to witness growth at a CAGR of 3.1% during the forecast period with a market size of USD 648.12 million in 2024.

Middle East and Africa Ice Cream Market

According to Cognitive Market Research, the global Ice Cream market size was estimated at USD 80512.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 1610.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. The Middle East and Africa's ice cream industry is defined by expanding consumer tastes, a growing population, and an increase in the desire for decadent sweets. The premium dairy-free ice cream industry, which serves the region's growing number of consumers who are lactose intolerant and health-conscious, is one significant component propelling market expansion. High-quality dairy-free ice cream products that don't sacrifice flavor or texture and are prepared with substitute ingredients like almond or coconut milk provide a guilt-free treat. The Middle East and Africa are expected to witness sustained growth in the premium dairy-free segment due to the growing number of health-conscious customer demographics and rising disposable incomes. To sum up, the ice cream business in the region has room to grow and diversify, and high-quality dairy-free products can cater to the changing demands of a health-conscious customer base.

• According to Cognitive Market Research, the GCC Countries Ice Cream market size was valued at USD 689.18 million in 2024 and is projected to grow at a CAGR of 5.1% during the forecast period. Ice Cream sales flourish in the GCC Countries due to the region's strategic investments in ice cream industry.
• The Egypt Ice Cream market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 169.08 million in 2024.
• The South Africa Ice Cream market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 254.42 million in 2024. Ice Cream sales flourish in the South Africa due to the region's strategic investments in ice cream industry.
• The Turkey Ice Cream market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 138.48 million in 2024.
• The Nigeria Ice Cream market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 169.08 million in 2024.
• The Rest of MEA Ice Cream market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 190.01 million in 2024.

Ice Cream Market Analysis

Ice Cream Market Product Type Segment Analysis

According to Cognitive Market Research, Sticks/Bars held the major market share over the forecast period. Due to their mobility, convenience, and attractiveness to consumers who are always on the go, sticks, and bars are becoming a more significant market segment in the ice cream industry. As consumer preferences change, the market is seeing innovation in quality ingredients, a wide range of flavors, and textures. In addition, sticks and bars are becoming more widely available in the ice cream industry thanks to creative marketing initiatives and greater availability through various retail channels.

Cones & Cups is the fastest-growing category over the forecast period. Cones and cups are among the fastest-growing segments of the ice cream business because of their versatility and appeal to a wide range of customer demographics. A large selection of flavors and toppings and advancements in cone and cup design are advantageous to this market niche. In addition, the ease of single-serve packaging and the demand for artisanal and premium products support the business's ongoing growth.

• Sticks/Bars
• Cones & Cups
• Tubs & Bricks
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Ice Cream Industry. Request a Free Sample PDF!

Ice Cream Market Flavor Type Segment Analysis

According to Cognitive Market Research, Chocolate holds a prominent market share. Chocolate's timeless appeal and adaptability drive the ice cream industry's expansion. It is still a popular flavor that appeals to a broad spectrum of customers and is a mainstay in the sector. Advancements such as artisanal chocolate inclusions and premium cocoa blends also aid its continuous expansion in chocolate formulation. Chocolate's enduring appeal and wide range of uses make it a key player in the growing ice cream industry.

Vanilla is the fastest-growing category over the forecast period. Despite being a classic flavor, vanilla's persistent appeal and adaptability continue to propel the ice cream industry's expansion. Vanilla appeals to a wide spectrum of customers, including those with more conventional tastes, with its delicate yet decadent flavor. Furthermore, advancements in vanilla sources, extraction techniques, and flavor profiles help its ongoing growth, solidifying its position as a mainstay of the expanding ice cream industry.

• Chocolate
• Vanilla
• Tutti Frutti
• Blends
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Ice Cream Category Segment Analysis

According to Cognitive Market Research, dairy-based products held the major market share over the forecast period. The industry is expanding due to dairy-based ice cream products' rich, creamy texture and timeless appeal. Dairy-based choices, with their diverse flavors and formulas, keep drawing in customers looking for decadent delights. The development of premium and artisanal products and advancements in the sourcing of premium dairy components support the market's ongoing growth for dairy-based ice cream.

Non-Dairy is the fastest-growing category over the forecast period. The market for non-dairy ice cream products is expanding dramatically due to rising customer demand for plant-based substitutes. The taste and texture of non-dairy ice cream alternatives are now on par with that of regular dairy ice cream because of developments in ingredient technology and flavor innovation. The swift growth of non-dairy diets has been facilitated by ethical and environmental considerations as well as the growing popularity of the market for non-dairy ice cream.

• Dairy-Based
• Non-Dairy

Ice Cream Distribution Channel Segment Analysis

According to Cognitive Market Research, store-based stores held the major market share over the forecast period. The industry is expanding for store-based ice cream retail because of how convenient and easily accessible it is for customers. Store-based retail, prevalent in supermarkets, convenience stores, and specialized ice cream shops, offers a wide range of ice cream items to suit various tastes and preferences. The rise and growth of this market sector are also aided by strategic placement within stores and promotional efforts.

Non-store-based is the fastest-growing category over the forecast period. The non-store-based ice cream sales industry, which includes delivery services and internet platforms, is expanding significantly. An increasing number of people are drawn to the convenience and flexibility of ordering ice cream items from the comfort of their homes. The ease of doorstep delivery and the development of e-commerce platforms drive the explosive rise in non-store-based ice cream sales.

• Store-Based
• Non-Store-Based

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

LinkedIn

Profile

I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

Author's Conclusion