Ice Cream Market Outlook

According to the report by Expert Market Research (EMR), the global ice cream market size attained a value of USD 83.24 Billion in 2024. Aided by the rising consumer preference for indulgent desserts and the expanding applications of ice cream across various food service channels, the market is projected to further grow at a CAGR of 4.30% between 2025 and 2034 to reach a value of USD 126.82 Billion by 2034.

Ice cream is a widely consumed frozen dessert made primarily from dairy ingredients, sweeteners, and flavorings. Available in numerous flavors and formats, including cones, cups, and bars, ice cream continues to be a staple treat enjoyed by consumers of all age groups. Beyond its traditional role as a dessert, ice cream has also evolved into a key ingredient in numerous culinary applications, including shakes, cakes, and specialty beverages.

The increasing demand for premium and artisanal ice cream products is driving the global ice cream market growth. Consumers are increasingly seeking high-quality ingredients, unique flavors, and natural additives, leading to a surge in demand for handcrafted and organic ice cream varieties. Additionally, the rising health-consciousness among consumers has propelled the development of low-fat, sugar-free, and plant-based ice cream options, further expanding the market landscape.

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Market Drivers

One of the key factors propelling the growth of the global ice cream market is the increasing disposable income and urbanization, which have led to higher consumer spending on indulgent food products. The rapid expansion of quick-service restaurants (QSRs), cafes, and dessert parlors has also significantly contributed to the rising consumption of ice cream worldwide.

Furthermore, the growing trend of functional and fortified ice cream products is boosting market expansion. Manufacturers are introducing ice cream infused with probiotics, high-protein content, and superfood ingredients to cater to health-conscious consumers. These innovations are particularly gaining traction among millennials and Gen Z consumers who prioritize both taste and nutritional benefits.

The expansion of e-commerce and digital retailing has also played a crucial role in increasing the accessibility of ice cream products. With the rise of online grocery platforms and direct-to-consumer delivery services, consumers can now explore a wider variety of ice cream options from the comfort of their homes, further propelling market growth.

Ice Cream Market Segmentation

The global ice cream 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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global ice cream market. 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 Restraints

Despite the promising growth trajectory, the global ice cream market faces certain challenges. The volatility in raw material prices, particularly dairy and sugar, poses a significant hurdle for manufacturers. Fluctuations in supply chains due to climate change, trade restrictions, and transportation disruptions can further impact production costs and profit margins.

Additionally, the growing concerns over obesity and diabetes have led to increasing scrutiny over the sugar and fat content of ice cream products. Regulatory bodies in various countries are imposing stricter guidelines on labeling and advertising, compelling manufacturers to reformulate their products to align with health-conscious consumer preferences.

Future Outlook

The future of the global ice cream market looks promising, with continued demand driven by evolving consumer preferences, advancements in flavor innovation, and the rising popularity of plant-based and functional ice creams. Sustainable packaging solutions, ethical sourcing of ingredients, and technological advancements in freezing and storage techniques will further shape the market landscape.

As consumers increasingly prioritize premium quality, health benefits, and sustainability, key market players are likely to focus on clean-label formulations, digital marketing strategies, and direct-to-consumer distribution models. Additionally, investments in research and development to explore new flavor combinations, texture enhancements, and dietary-friendly formulations will be crucial in sustaining long-term market growth.

Overall, the global ice cream market is poised for significant expansion, driven by the dynamic interplay of indulgence, innovation, and health-conscious consumption patterns.