Ice Cream – Market Trends, Drivers, and Growth Prospects until 2021

Renewable energy

According to Technavio’s latest market research study, the global ice cream market is expected to grow at a CAGR of close to 5% during the forecast period, 2017-2021.

This report by Technavio provides an in-depth analysis of the global ice cream market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.

Technavio research analysts categorize the market based on the product type

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The top three revenue contributing product segments are discussed below:

Global impulse ice cream market: Impulse ice creams, meant for immediate consumption, include ice cream bars, sandwiches, ice-lollies, cones, cups, and sticks. Indulgence and rising demand for small portion snacks are the major drivers for the growth of the market. Increased demand for variety is prompting vendors in the market space to launch new and innovative flavors, leading to growth of the market. For example, Ben & Jerry’s offers more than 60 flavors.

Vendors are leveraging advertising campaigns to attract consumers, especially children who persuade their parents to buy ice creams. For instance, in 2017, Unilever invested almost USD 9 million in marketing and in-store activities to drive sales in the impulse ice cream category. The new range includes Wall’s Solero strawberry smoothie, Feast sandwich, and Wall’s Duo, which are to be promoted through sampling activities, out-of-home media activities, and online activities,” says Manjunath Reddy, a lead analyst at Technavio for research on food.

Global take-home ice cream market: Take-home ice creams are ice creams intended for consumption at home. The high demand for take-home ice creams is attributable to the increase in the number of occasions and gatherings at home where ice creams are consumed as a snack or dessert. Packaging innovations have also contributed to the growth of the industry. For example, Royal Copenhagen Ice Cream Cone Company, which produces ice creams, sorbet, cones, and beverages, offers half liter Royal Copenhagen take-home packs.

Global artisanal ice cream market: The demand for artisanal ice creams is growing due to the increasing demand for handmade ice creams containing high-quality ingredients; these are high-priced. Health-conscious consumers are highly inclined toward artisanal ice creams due to the healthy ingredients such as nuts and fruits, natural flavors, and organic products.

The top vendors operating in the global ice cream market are:

  • Blue Bell Creameries
  • Mars
  • Nestlé
  • Unilever

Other prominent vendors in the market include Gujarat Cooperative Milk Marketing Federation (GCMMF), Amy’s Ice Creams, Bliss Unlimited, China Mengniu Dairy, Dean Foods, FrieslandCampina, Geláre, General Mills, LALA, Lotte Confectionery, Oregon Ice Cream, Pierre’s Ice Cream Company, Richs Ice Cream, Three Twins Ice Cream, Tillamook, Vadilal House Vadilal Enterprises, and Yili Group.

A more detailed analysis is available in the Technavio report titled, ‘Global Ice Cream Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.

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