IMARC Group’s latest report, titled “Ice Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global ice cream market reached a value of US$ nearly 50 Billion in 2016, growing at a CAGR of around 8% during 2009-2016. Ice cream represents one of the most popular dairy-based desserts preferred by consumers of all age groups. It is made by freezing a mix of cream, sweeteners, emulsifiers and flavourings. Ice cream is a rich source of energy, carbohydrates, calcium, phosphorus and vitamins such as A, C, D, E, K, B6 and B12. It is also known to lessen the negative effects of stress by helping the body produce endorphins, dopamine and serotonin. Ice cream is available in hundreds of flavours with the most popular being vanilla, chocolate and strawberry.
Highlights of the Global Ice Cream Market:
- Introduction of innovative products and flavours remains one of the major driving factors.
- Asia Pacific represents the largest region, accounting for nearly a half of the total market share.
- The market is fragmented in nature surrounded by a number of regional and global players.
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The introduction of innovative products and flavours according to the varying preferences and needs of the consumers has provided impetus to the demand for ice cream worldwide. Manufacturers are offering ice cream variants which are low in fat and sugar; lactose and gluten free; and made with organic ingredients. The artisan and premium product segments are also witnessing positive growth on account of rising disposable incomes and increase in the number of ice cream parlours offering these products. Improvement in cold chain facilities in emerging regions and rising population represent some of the other driving factors. According to the report, the market is further expected to reach a value of US$ 28 Billion by 2022.
On the basis of region, Asia Pacific accounts for nearly a half of the market share, representing the largest market. Within the region, China is the largest consumer by volume, replacing the US as the largest ice cream consumer. Asia Pacific was followed by North America, Europe, Latin America, and Middle East and Africa. The global ice cream market is highly fragmented in nature with the presence of a large number of regional and global players. Some of the key players include Unilever, Nestlé, Yili Industries and General Mills.
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The report has examined the global ice cream market on the basis of:
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
- Yili Industries
- General Mills
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