USD 82.32 Billion
Report ID:
SQMIG30I2350 |
Region:
Global |
Published Date: May, 2025
Pages:
198
|Tables:
89
|Figures:
71
Global Ice Cream Market size was valued at USD 82.32 Billion in 2023 poised to grow from USD 85.78 Billion in 2024 to USD 124.22 Billion by 2032, growing at a CAGR of 4.2% in the forecast period (2025-2032).
The upsurge of disposable wealth, especially in developing market regions like Asia-Pacific and Latin America, has substantially grown the ice cream market. As people have more money to spend and disposable income, they generally choose to spend on discretionary (comfort) foods, with ice cream being at the top of that list. The wealth allows people to not only purchase ice cream more frequently, but also to try more premium, artisanal, and imported ice cream products. The increasing average spending capability increases average per purchase spending as well, thus increasing demand for ice cream and expanding the market. Wealth moving toward urbanization and other lifestyle upgrades that accompany income growth have been a boon to indulgent food purchases as well.
Flavor and format innovation is a key trend driving the global ice cream industry. Manufacturers are consistently launching unique, health-conscious, and culturally inspired flavors to appeal to a broader audience. Unsurprisingly, healthier, vegan, keto, functional, or low-sugar ice creams with added vitamins or probiotics respond to growing health and dietary concerns. New formats like ice cream sandwiches, sticks, and personalized sundaes also add value by making it easier and more engaging for consumers to get involved - and these products not only build upon changing tastes among Gen Zs and Millennials but also support product differentiation in a crowded market as well as create ongoing attachment through enhanced brand loyalty and repeat purchasing.
Which High-Value Ingredients Benefit Most from AI-Driven Waste Reduction?
Artificial Intelligence (AI) is revolutionizing the worldwide ice cream market by streamlining supply chain processes and introducing new products. For example, Unilever is utilizing AI to study weather patterns and sales in real-time to better forecast demand and supply chain management of its 3 million freezers in 60 countries. By employing this strategy, sales have increased by as much as 30% in some locations like Denmark. Moreover, AI-based processes improve the way ice cream products are made, generating up to 10% less waste of ingredients, especially those of high value, like vanilla and cocoa. These advances ultimately improve efficiency and help mitigate waste and energy use in order to see enhanced sustainability.
In 2024, Unilever expanded its AI-enabled freezer initiative, aiming to equip 350,000 units globally by 2025. These freezers utilize image recognition and AI to monitor stock levels in real-time, automatically generating restock orders. This technology has led to sales increases of up to 30% in markets like Denmark, enhancing inventory efficiency and reducing product shortages.
Market snapshot - 2025-2032
Global Market Size
USD 82.32 Billion
Largest Segment
Ice Cream Bars
Fastest Growth
Ice Cream Cones
Growth Rate
4.2% CAGR
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The global ice cream market is segmented based on product, type, distribution channel, and regions. In terms of product, the market is grouped into ice cream cartons, ice cream tubs, ice cream cups, ice cream cones, and ice cream bars. Based on type, the market is divided into dairy & water-based and vegan. Based on distribution channels, the market is bifurcated into foodservice and retail. Based on region, the ice cream market is segmented into North America, Europe, Asia-Pacific, Central & South America and the Middle East & Africa.
Based on the global ice cream market forecast, ice cream bars are experiencing a surge in the industry, driven by innovation in flavors, health-conscious options, and convenient formats. Brands are introducing exotic ingredients like matcha and cardamom, as well as plant-based alternatives using almond or oat milk, to cater to diverse dietary preferences. The portability of ice cream bars aligns with modern, on-the-go lifestyles, making them a preferred choice over traditional tubs. Additionally, premiumization trends, with high-quality ingredients and artisanal craftsmanship, enhance their appeal, solidifying their dominance in the ice cream market.
Ice cream cones are poised to be the fastest-growing segment in the global ice cream market, driven by their convenience, portability, and nostalgic appeal. Innovations such as gluten-free and vegan cones cater to health-conscious consumers, while artisanal and premium offerings attract a broader audience. The expansion of ice cream parlors and food service outlets, especially in emerging markets, further boosts demand.
Dairy and water-based ice creams continue to dominate the ice cream market due to their rich texture, traditional appeal, and broad consumer acceptance. Dairy-based varieties, comprising approximately 91% of new product launches, offer a creamy mouthfeel and indulgent experience that resonates with consumers worldwide. Innovations in processing techniques, such as precise air incorporation and flavor distribution, have enhanced product quality and consistency. Additionally, advancements like heat-shock-resistant formulations have improved shelf stability, particularly in warmer climates.
Vegan-type ice cream is the fastest-growing segment in the ice cream market due to increasing demand for plant-based, lactose-free, and allergen-friendly alternatives. Health-conscious and ethically driven consumers are fueling this rise. Innovations in nut and oat milk bases, improved texture, and bold flavors are accelerating adoption, especially among millennials and flexitarian consumers worldwide.
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As per the global ice cream market analysis, North America remains a dominant region in the industry, driven by high per capita consumption, strong brand presence, and innovation in product offerings. The U.S. leads with trends like premium, low-calorie, and plant-based ice creams gaining traction. Consumer demand for clean-label and indulgent treats supports continued growth. Additionally, seasonal promotions, advanced retail networks, and rising demand for functional ingredients enhance market expansion across the region.
U.S. Ice Cream Market
The U.S. leads North America’s ice cream market share due to its large consumer base and high per capita consumption. Strong innovation in premium, low-calorie, and plant-based ice cream varieties drives market growth. Advanced retail infrastructure, including supermarkets and e-commerce, ensures wide product availability. Consumers increasingly demand indulgent and health-conscious options, prompting brands to diversify flavors and formats, sustaining the U.S.’s position in the regional outlook.
Canada Ice Cream Market
Canada contributes significantly to North America’s ice cream market growth with growing demand for premium and clean-label products. Health trends have boosted interest in organic, dairy-free, and low-calorie options. Expanding online retail channels improve accessibility, while domestic and international brands compete through innovation and natural ingredient focus. Canadian consumers value transparency and quality, driving manufacturers to emphasize sustainable sourcing and product authenticity.
Asia Pacific is a rapidly growing region in the global ice cream market growth, fueled by rising disposable incomes, urbanization, and changing consumer lifestyles. Countries like China, India, and Japan drive demand for innovative flavors, including local and exotic varieties. Increasing health awareness boosts the popularity of low-fat, sugar-free, and plant-based options. Expansion of modern retail and foodservice channels further accelerates market penetration, making Asia Pacific a key growth hub worldwide.
Japan Ice Cream Market
Japan contributes significantly to the Asia Pacific’s ice cream market share through its focus on unique flavors like matcha and red bean, alongside innovative formats such as mochi ice cream. The country’s consumers favor premium quality and novel experiences, supported by a well-developed retail sector. Steady market growth is driven by rising disposable income and health-conscious trends, positioning Japan as a key player in global ice cream innovation and consumption.
South Korea Ice Cream Market
South Korea’s ice cream market trends is growing rapidly, fueled by high per capita consumption and a strong appetite for innovative, trendy flavors. Major companies like Lotte and Binggrae lead in product development and distribution. The expanding urban population and increased disposable income encourage demand for premium and diverse ice cream offerings. South Korea’s focus on unique textures and flavors makes it an influential contributor to the global ice cream industry.
Europe’s ice cream market is mature and diverse, driven by strong demand for premium, organic, and artisanal products. Countries like Italy, Germany, and the UK lead with innovation in flavors and healthier options such as low-sugar and plant-based ice creams. Growing consumer awareness of sustainability and ethical sourcing influences buying decisions. Well-established retail and foodservice channels support market stability, while seasonal trends and indulgence culture sustain consistent growth across the region.
France Ice Cream Market
Germany is a major contributor to the Europe’s ice cream market share, driven by strong demand for premium and health-conscious products. Consumers increasingly prefer organic, low-fat, and vegan options. Innovation in flavors and sustainable packaging enhances market appeal. Germany’s well-developed retail infrastructure and growing e-commerce channels enable broad product accessibility, supporting steady market expansion and reinforcing its role in shaping European ice cream trends.
France Ice Cream Market
France’s ice cream market is known for its gourmet and artisanal offerings, reflecting the country’s culinary heritage. Premium quality, natural ingredients, and innovative flavors appeal to sophisticated consumers. The growing demand for organic and plant-based ice creams drives product development. France’s robust foodservice and retail sectors facilitate widespread consumption, positioning it as a key player in the European and global ice cream landscape.
UK Ice Cream Market
The UK ice cream market is dynamic, characterized by rapid growth in premium, vegan, and low-calorie segments. Consumers seek innovative flavors and sustainable, ethically sourced products. Retail and convenience store penetration is high, with online sales gaining momentum. The UK’s focus on health and wellness trends fuels product diversification, while strong marketing and promotional activities boost market visibility and contribute significantly to the ice cream market.
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Innovation in Flavors and Formats
Expansion of Organized Retail and Online Channels
Intense Competition and Market Saturation
Health Concerns Over Sugar and Fat
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The global ice cream market outlook is highly competitive, dominated by key international players like Unilever, Nestlé, and General Mills. These companies focus on innovation, product diversification, and expanding plant-based and premium offerings. Unilever invests heavily in sustainable sourcing, while Nestlé emphasizes health-conscious and low-sugar options. General Mills targets emerging markets through localized flavors and aggressive marketing. Strategic partnerships and acquisitions further strengthen their global presence and market share.
As per the global ice cream industry analysis, the startup landscape is rapidly evolving, driven by rising consumer demand for healthier, sustainable, and innovative products. Startups focus on plant-based, low-calorie, and allergen-free options, leveraging food technology to create unique textures and flavors. Agile operations and direct-to-consumer models allow quick market penetration. These companies challenge established brands by offering niche, clean-label, and environmentally friendly alternatives, accelerating disruption and expanding choices in the global ice cream market.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global ice cream industry continues to thrive, propelled by rising disposable incomes and urbanization in key regions like Asia-Pacific and Latin America. Consumers are increasingly seeking indulgent, premium, and health-conscious options, fueling demand for artisanal and innovative products. Flavor and format innovation remain critical, with brands developing plant-based, low-sugar, and novel formats that resonate with younger demographics.
AI-driven advancements enhance supply chain efficiency and sustainability, further supporting market growth. Regional dynamics highlight North America and Asia-Pacific as major growth hubs, while Europe’s mature market focuses on premiumization and ethical sourcing. Overall, continuous innovation, expanding retail channels, and evolving consumer preferences position the global ice cream market strategies for sustained expansion and increased global competitiveness.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 82.32 Billion |
Market size value in 2032 | USD 124.22 Billion |
Growth Rate | 4.2% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Ice Cream Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ice Cream Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ice Cream Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ice Cream Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Global Ice Cream Market size was valued at USD 82.32 Billion in 2023 poised to grow from USD 85.78 Billion in 2024 to USD 124.22 Billion by 2032, growing at a CAGR of 4.2% in the forecast period (2025-2032).
Unilever (United Kingdom/Netherlands), Nestlé S.A. (Switzerland), General Mills Inc. (USA), Mars, Incorporated (USA), Ferrero Group (Italy), Danone S.A. (France), Grupo Bimbo, S.A.B. de C.V. (Mexico), Amul (India), Mead Johnson Nutrition (USA), Blue Bell Creameries (USA), Froneri Group (United Kingdom), Baskin-Robbins (USA), Häagen-Dazs (USA), Mengniu Dairy Company Limited (China), Yili Group (China)
Innovation in unique flavors, textures, and formats like ice cream bars and dairy-free options attracts diverse consumers, driving repeat purchases and expanding the global market.
Rising health and sustainability trends are fueling global demand for plant-based ice creams, with brands innovating using almond, oat, and coconut bases.
North America leads the ice cream market with high consumption, premium and plant-based trends, clean-label demand, strong brands, and expanding retail and seasonal promotions.
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