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Ice Cream Market Size, Share, Trends and Growth Forecast (2025-2034)
Ice Cream Market OutlookAccording to the report by Expert Market Research (EMR), the global ice cream market attained a value of USD 83.24 billion in 2024. Driven by rising disposable incomes, changing consumer lifestyles, growing demand for indulgent and premium desserts, and the expansion of organized retail and e-commerce channels, the market is expected to grow at a CAGR of 4.30% during the forecast period of 2025-2034, reaching USD 126.82 billion by 2034.
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Ice cream, a frozen dessert made primarily from milk, cream, sugar, and flavorings, enjoys widespread consumption across age groups and geographies. The product's versatility allows for diverse formulations, including premium, artisanal, low-fat, sugar-free, plant-based, and ready-to-eat variants. Its consumption is closely tied to cultural and seasonal patterns, with high demand in summer months and festive seasons.
Ice Cream Market Size and Share
The global ice cream market, valued at USD 83.24 billion in 2024, is segmented by product type, distribution channel, and geography. Product types include regular dairy ice cream, low-fat and non-fat ice cream, frozen yogurt, gelato, sorbet, and plant-based or vegan ice cream alternatives. Regular dairy ice cream continues to dominate the market, accounting for the largest share due to traditional consumption patterns and widespread availability.
Premium and artisanal ice creams are witnessing robust growth, particularly in North America, Europe, and parts of Asia Pacific, as consumers seek high-quality ingredients, unique flavors, and indulgent experiences. Plant-based ice cream alternatives are emerging as a high-growth segment, driven by the increasing adoption of vegan diets, lactose intolerance awareness, and sustainability considerations.
Geographically, Asia Pacific represents the largest regional market due to high population, growing urbanization, and rising disposable incomes in countries such as China and India. North America and Europe maintain significant shares, driven by high per capita consumption, established brands, and innovation in product offerings. Key players in the global ice cream market include Unilever, Nestlé, General Mills, Froneri, Dairy Queen, and Amul, focusing on product innovation, distribution expansion, and branding to capture market share.
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Ice Cream Market Trends
Several trends are shaping the global ice cream market. A key trend is the growing demand for premium and artisanal ice creams, characterized by exotic flavors, high-quality ingredients, and unique textures. Consumers are increasingly seeking indulgent experiences, prompting companies to experiment with limited-edition flavors and gourmet varieties.
The rise of health-conscious consumption is driving the demand for low-sugar, high-protein, lactose-free, and plant-based ice creams. Vegan alternatives, made from almond, oat, soy, and coconut milk, are gaining popularity among vegetarian and vegan consumers, as well as those with lactose intolerance.
Innovation in packaging and portion control is another trend, allowing brands to cater to on-the-go consumption and single-serve preferences. Sustainability initiatives, such as biodegradable packaging and ethical sourcing of ingredients, are becoming increasingly important to environmentally conscious consumers.
Digital engagement and e-commerce growth are also influencing market trends. Online ordering, subscription services, and home delivery of ice cream are becoming more prevalent, supported by social media marketing, influencer collaborations, and personalized promotions.
Drivers of Growth
The primary drivers of growth in the global ice cream market include rising disposable incomes, increasing urbanization, changing lifestyles, and growing consumer appetite for indulgent and innovative dessert options. Rising awareness of premium and functional products, coupled with increased exposure to global culinary trends, is further propelling market expansion.
The growth of modern retail infrastructure and e-commerce platforms facilitates access to a broader consumer base, enabling convenient purchasing of premium, specialty, and novel ice cream varieties. Seasonal demand, driven by summer months and festive occasions, also contributes to consistent growth, especially in regions with warm climates.
The expanding foodservice industry, including cafes, restaurants, and ice cream parlors, is further driving sales of premium, artisanal, and experiential ice cream offerings. International expansion and exports, particularly in Asia Pacific and the Middle East, are significant factors supporting market growth.
Ice Cream Market Segmentation
The market can be divided based on flavour, category, product type, end use, sales channel and region.
Market Breakup by Flavour
Chocolate
Fruit
Vanilla
Others
Market Breakup by Category
Impulse Ice Cream
Take-Home Ice Cream
Artisanal Ice Cream
Market Breakup by Product Type
Cup
Stick
Cone
Brick
Tub
Others
Market Breakup by End-Use
Food Service
Retailers
Market Breakup by Sales Channel
Supermarkets and Hypermarkets
Convenience Stores
Ice Cream Parlours
Hotels and Restaurants
Online
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Industry Key Players
Some of the major players explored in the report by Expert Market Research are as follows:
Unilever plc
General Mills, Inc.
Ashby's Ice Cream
Tillamook County Creamery Association
Gujarat Cooperative Milk Marketing Federation Limited (Amul)
Turkey Hill Dairy
HP Hood, LLC
Wells Enterprises, Inc
Dairy Farmers of America, Inc.
Nestlé S.A.
Lotte Confectionary Co, Ltd
The Kroger Company
Meiji Holdings Co, Ltd
Danone S.A.
Others
Challenges and Opportunities
Challenges in the global ice cream market include high sensitivity to raw material prices, particularly dairy and sugar, as well as dependency on cold chain logistics for product storage and distribution. Seasonal demand fluctuations and regional climate variations can also affect sales and profitability. Additionally, rising health awareness may constrain consumption of traditional high-sugar ice creams in certain markets.
However, the market offers numerous opportunities. The growth of plant-based, low-sugar, and functional ice cream variants caters to health-conscious and vegan consumers. Premium and artisanal segments present opportunities for higher margins, particularly in urban and affluent markets.
E-commerce and home delivery services offer avenues for reaching new customer segments and driving sales growth. Expanding presence in emerging markets, product innovation, and sustainability initiatives, such as eco-friendly packaging and ethically sourced ingredients, are key opportunities for growth.
Ice Cream Market Forecast
The global ice cream market is expected to grow steadily during the forecast period of 2025-2034. From a value of USD 83.24 billion in 2024, the market is projected to reach approximately USD 126.82 billion by 2034, reflecting a CAGR of 4.30%.
Traditional and premium ice cream products will continue to dominate the market, supported by strong brand loyalty and consumer preference for indulgent desserts. Functional, health-oriented, and plant-based variants are expected to witness rapid growth, driven by evolving consumer preferences and dietary trends.
Innovation in flavors, packaging, and distribution channels, coupled with digital engagement and sustainability initiatives, will be critical growth levers. Companies focusing on product diversification, quality assurance, and consumer experience are well-positioned to capture opportunities in this dynamic and competitive market.
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