Market Overview:
The global ice cream market was valued at USD 76.11 billion in 2023 and is expected to grow to USD 132.32 billion by 2032, registering a compound annual growth rate (CAGR) of 6.65% over the forecast period. In the United States, the market is projected to reach USD 28.56 billion by 2032, fueled by strong demand for frozen dairy desserts and the expanding presence of fast food chains and restaurants. In 2023, the Asia Pacific region led the market, holding a dominant share of 32.82%.
According to the report titled 'Ice Cream Market, 2024–2032' by Fortune Business Insights™, the global market is anticipated to grow due to increasing consumer expenditure on fast food, robust R&D efforts aimed at developing innovative product variations, and the easy availability of ice cream products. Additionally, rising urbanization and increasing disposable incomes in emerging economies are expected to further support market growth in the coming years.
List of Key Players Profiled in the Report
Segments:
By Type, Impulse Segment to Record Fastest CAGR during 2024-2032
Based on type, the market is bifurcated into impulse and take home. The impulse segment dominated the market share in 2021, owing to rising popularity of conveniently packaged product among consumers. On the other hand, the take home segment will record notable growth through 2032.
By Flavor, Vanilla Segment to Capture Maximum Share through 2032
In terms of flavor, the market is divided into vanilla, chocolate, fruit, and others. Among these, the vanilla segment is slated to dominate the market during 2024-2032 led by increasing popularity of the product. The chocolate segment is expected to hold the second-largest market share.
By Packaging, Cup Segment to Exhibit Stellar Growth over 2024-2032