Ice cream and frozen desserts have been consumed in our society from the beginning of time. Even during the pandemic, this consumption didn’t plunge, instead, it underwent a rapid surge. The Ice Cream and Frozen Desserts market is valued at USD 1,38,300 million, as of 2024, has a promising future ahead, thanks to the emergence of artisanal ice cream and DIY parlors in developing and developed economies.
With the growing health-consciousness among the general population, people are increasingly opting for probiotic yogurts and zero-calorie frozen desserts. This is very likely to push the market size to a staggering US$ 283900.2 million by 2034. Consumption has also seen a noticeable surge since people are using protein-rich yogurts as their pre and post-workout meals.
The growing lactose-intolerant population hasn’t really affected the overall progress of this market as brands came up with non-dairy alternatives of people’s favorite flavors and textures. The market is still slated to grow at a healthy CAGR of 7.50% through 2034. Besides this, plant-based and gourmet ice cream options are gradually taking their place in the affluent population’s shopping list.
Key Takeaways from the Market Study
- The ice cream segment dominates the global ice cream and frozen dessert market with a share of 87.30% in 2024.
- Based on distribution channels, the hypermarket/supermarkets lead the ice cream and frozen dessert market with a share of 56.90% in 2024.
- The ice cream and frozen dessert market in China is anticipated to grow at a CAGR of 3.50% through 2034.
- The ice cream and frozen dessert market in Germany is estimated to rise at a 7.00% CAGR through 2034.
- The ice cream and frozen dessert market in the United States has the potential to increase at 4.10% CAGR through 2034.
- The Japanese ice cream and frozen dessert market is predicted to rise by 4.70% CAGR through 2034.
- The ice cream and frozen dessert market in India is very likely to grow at a CAGR of 8.20% through 2034.
“The emergence of food delivery platforms has substantially affected the ice cream and frozen dessert market in a positive manner. Brands must leverage these platforms to reach a wider consumer base,” opines an FMI analyst.
Competitive Landscape
- The market for ice creams and frozen desserts is highly competitive with both international and domestic brands vying for dominance.
- The emergence of local and artisanal ice cream parlors has diverted a substantial part of the consumer base.
- Some of the prominent companies in the market include Baskin-Robbins, Nestle SA, Unilever, Danone Groupe SA, Ben & Jerry’s Homemade Holdings Inc., Cielo USA, Breyers Ice Cream, Casper’s Ice Cream, etc.
- These companies have a loyal consumer base due to their prolonged presence in the market.
- The sales of probiotic yogurts and low-calorie frozen desserts are likely to experience a surge due to increasing awareness of dietary habits.
- Brands are focusing on premium branding and aesthetic packaging to attract the millennial population.
Recent Developments:
- Oreo, in March 2024, released a new line of mint-flavored frozen treats with mint creme-flavored dairy desserts and Oreo cookie pieces.
- In February 2024, Katoomba Global Foods launched a premium Indian kulfi ice cream range with Australia-made kulfi and India’s Parle G biscuits.
- Häagen-Dazs introduced oat-based, vegan-certified frozen desserts in Canada with creamy texture and indulgent flavors in May 2023.
- Snoop Dogg and Happi Co., in July 2023, launched Dr. Bombay Ice Cream, inspired by his NFT character, in 3,500 Walmart stores.
- Oatly and Carvel partnered to offer dairy-free options nationwide including strawberry soft serve, cookies and cream, and frozen dessert cakes in January 2024.
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Key Segments Covered in the Ice Cream and Frozen Dessert Industry Analysis
By Type:
- Frozen Yogurt
- Frozen Cakes
- Ice Cream
- Others
By Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
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