Ice Cream Market Report Scope & Overview:

The Ice Cream Market Size was valued at USD 74.49 billion in 2022 and is expected to reach USD 109.20 billion by 2030, and grow at a CAGR of 4.9% over the forecast period 2023-2030.

Ice cream is a combination of milk, cream, industrial sugar, and other ingredients that has been frozen into a soft, creamy treat using unique procedures. It was originally known as iced cream. Stabilizers, such as gluten and plant-based butter, are commonly used to give the mixture a uniform texture. Ice creams also contain milk proteins such as whey and casein, which absorb water and form micelles to improve the product's consistency. Strawberry, vanilla, chocolate, and butterscotch are some of the most popular ice cream flavours. Ice cream is one of the most popular dairy products in India, and it comes in a variety of price levels.

Ice Cream Market Revenue Analysis

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Ice cream is a sweetened dairy product made with either natural sugar or artificial sweeteners. Companies on the market provide a variety of ice creams, including hard ice cream, soft ice cream, light ice cream, low-fat ice cream, and others. Summer is unquestionably the best time to eat ice cream and other frozen treats. The availability of diverse flavoured ice creams is driving the ice cream industry's expansion. As a result, ice cream buyers pay a higher price for these items, resulting in increased market income.

Market Dynamics:

Driving Factors:

  • Industry-wide innovation is needed to keep product demand high.

  • R&D spending is expected to rise, as is digitalization. 

Restraining Factors:

  • Performance is hampered by short shelf life and seasonality. 


  • Globally, product innovation in ice cream products fuels market growth and development.

  • Hypermarkets, supermarkets, convenience shops, discounters, forecourt merchants, and grocery stores are examples of retail channels that serve as worldwide marketing tools to help develop an attractive premium image and improve brand exposure for a wide range of ice cream goods. The expansion of these retail channels helps to boost the size of the ice cream market.

  • The development of lactose-free ice cream and the rise in demand for novel products are providing potential prospects for the ice cream industry. 


  • The well-being concerns related with ice creams.

Impact of Covid-19:

The Ice cream industry had endured during COVID-19 because of production network interruptions, significantly inferable from the strategic limitations on shipping and delivery that influenced the ice cream deals. Moreover, the deficiency of the enormous workforce required in the assembling units and the break of on-premise deals through specialty stores, stores, and corner shops because of the resulting lockdowns and the conclusion of retail locations further impacted the market deals. In spite of seeing a significant hit because of the pandemic, a few organizations revealed that the business is confronting a significant lift in the bring-back home utilization portion toward the finish of 2020.

Product type:

Side-effect type, the drive ice cream fragment is the most worthwhile in the worldwide ice cream market, as it is not difficult to convey and attributable to rising prominence of motivation ice cream universally. This sort of ice cream is popular, particularly by kids and teens.

By Flavor:

By flavor, the vanilla fragment is overwhelming the market with the biggest piece of the pie. This is credited to flood sought after for vanilla ice cream. Vanilla ice cream is a customary type of ice cream enjoyed by individuals of all ages gatherings.

By Distribution channel:

The web-based deals channel is the quickest developing fragment in the worldwide ice cream market. This is because of the expansion in web entrance and ascends in use of cell phones. Likewise, online deals channel gives advantages like limits and free home conveyance.

Key Market Segmentation:

By Product Type:

  • Impulse Ice Cream

  • Take Home Ice Cream

  • Artisanal Ice Cream

By Flavor:

  • Vanilla

  • Chocolate

  • Fruit

  • Others

By Distribution Channel

  • Supermarkets And Hypermarkets

  • Convenience Stores

  • Specialty Stores

  • Online Sales Channel

Ice Cream Market Segmentation Analysis

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Regional Analysis:

  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Asia-Pacific is supposed to observe the most elevated development rate, attributable to ascend popular from the arising economies like India, China, Indonesia, and others. In addition, expanded discretionary cashflow and ascend in way of life support the development of market. India and China are projected to observe critical development during the ice cream market conjecture period.

Australia is the most appealing business sector for ice cream fabricates. Sweden and the UK are the appealing business sectors for ice cream from European locale, attributable to developing provincial interest.

Key Players:

Unilever Group, Nestle S.A., General Mills, Inc., Mars, Blue Bell Creameries, Lotte Confectionery, Wells Dairy Inc., Turkey Hill, Mihan Dairy Inc., Meiji Holdings Co. Ltd.

Blue Bell Creameries-Company Financial Analysis

Company Landscape Analysis

Ice Cream Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 74.49 Billion
Market Size by 2030 US$ 109.20 Billion
CAGR CAGR 4.9% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Product Type (Impulse Ice Cream, Take Home Ice Cream, Artisanal Ice Cream)
• by Flavor (Vanilla, Chocolate, Fruit, Others)
• by Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Sales Channel)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Unilever Group, Nestle S.A., General Mills, Inc., Mars, Blue Bell Creameries, Lotte Confectionery, Wells Dairy Inc., Turkey Hill, Mihan Dairy Inc., Meiji Holdings Co. Ltd
Key Drivers •Industry-wide innovation is needed to keep product demand high.
•R&D spending is expected to rise, as is digitalization. 
Market Opportunities •Globally, product innovation in ice cream products fuels market growth and development.

Frequently Asked Questions

Ice cream is a combination of milk, cream, sugar, and other ingredients that has been frozen into a soft, creamy treat using unique procedures. It was originally known as iced cream.

The Ice Cream Market Size was valued at USD 74.49 billion in 2022.

The major players in market Unilever Group, Nestle S.A., General Mills, Inc., Mars, Blue Bell Creameries, Lotte Confectionery, Wells Dairy Inc., Turkey Hill, and others in final report.

Forecast period of ice cream market is 2022-2030.

  • Industry-wide innovation is needed to keep product demand high.
  • R&D spending is expected to rise, as is digitalization.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value chain analysis

6. Porter’s 5 forces model

7.  PEST analysis

8. Global Ice Cream market segmentation, By Product Type:

8.1 Impulse Ice Cream

8.2 Take Home Ice Cream

8.3 Artisanal Ice Cream

9. Global Ice Cream Market segmentation, by Flavor

9.1 Vanilla

9.2 Chocolate

9.3 Fruit

9.4 Others

10. Global Ice Cream Market segmentation, by Distribution Channel

10.1 Supermarkets And Hypermarkets

10.2 Convenience Stores

10.3 Specialty Stores

10.4 Online Sales Channel

11. Global Ice Cream Market, by region/ country

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

12. Company profiles

12.1 Unilever Group

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 Swot Analysis

12.1.4 The SNS View

12.2 Nestle S.A.

12.3 General Mills, Inc.

12.4 Mars

12.5 Blue Bell Creameries

12.6 Lotte Confectionery

12.7 Wells Dairy Inc.

12.8 Turkey Hill

12.9 Mihan Dairy Inc.

12.10 Meiji Holdings Co. Ltd

13. Competitive Landscape

13.1 Competitive Bench Marking

13.2 Market Share Analysis

13.3 Recent Developments

14. Conclusion

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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