Ice Cream Market in Global Food & Beverages Industry | Top Impacting regions North America, Europe & Asia-Pacific Ice cream is dairy product, which is sweetened with either natural sugar or artificial sweeteners. Various ice creams are provided by the companies present in the market, including hard ice cream, soft ice cream, light ice cream, low-fat ice cream, and others.
The Global Ice Cream Market was valued at $68,072 million in 2016, and is projected to reach $97,301 million by 2023, registering a CAGR of 5.4% from 2017 to 2023. In 2016, the take-home segment accounted for the highest ice cream market share, growing at a CAGR of 5.3% from 2017 to 2023.
The growth of the ice cream industry is driven by availability of various flavored ice creams. As a result, the ice cream consumers pay a premium price for these products, which in turn increases the revenue of the ice cream market.
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The major factors driving the market growth include rise in disposable income in emerging economies and increased preference for niche ice cream flavors. However, the seasonality of the ice cream products and health concerns associated with it act as a major restraint of the global ice cream market.
Asia-Pacific is expected to witness the highest growth rate, owing to rise in demand from the emerging economies such as India, China, Indonesia, and others. Moreover, increased disposable income and rise in standard of living boost the growth of ice cream market. India and China are projected witness significant growth during the forecast period.
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This report provides an extensive analysis of the global ice cream market trends and emerging estimations & dynamics to elucidate the prevailing opportunities and tap the investment pockets. In-depth analysis of ice cream market size is conducted, and estimations for key segments between 2017 and 2023 are provided to assist stakeholders to understand the market scenario.