The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The ice cream and frozen dessert market has experienced robust growth in recent years, reaching $101.83 billion in 2023 and poised to hit $108.96 billion in 2024, showcasing a compound annual growth rate (CAGR) of 7.0%. The historical surge can be credited to various factors, including the irresistible appeal of sweet treats, a plethora of flavor options, the stronghold of established brands, the seasonality boost during summers, and the prevailing dessert culture.

Projected Delights: Future Growth Forecast

Looking ahead, the market is set to continue its sweet success. The forecast predicts a substantial growth to $140.27 billion in 2028, with a CAGR of 6.5%. This anticipated expansion is fueled by evolving consumer preferences, with a focus on health-conscious choices, plant-based and vegan offerings, sustainable practices, and the rise of digital marketing and e-commerce. Emerging trends include the popularity of artisan and craft desserts, gourmet and premium options, protein-enriched delights, ice cream sandwiches, novelties, and an exploration of international and ethnic flavors.

E-Commerce Driving the Freeze: A Digital Twist

– E-commerce’s Ascendancy

The growing demand for e-commerce is a key driver propelling the ice cream and frozen dessert market forward. E-commerce, defined as the buying and selling of goods and services over the internet, offers unparalleled convenience to consumers. They can now browse and purchase a diverse array of frozen treats from the comfort of their homes, leading to increased impulse buys and repeat business.

– Numbers Speak: E-Commerce Surge

In August 2023, the United States Census Bureau reported a notable surge in e-commerce. Compared to the second quarter of 2022, e-commerce in the second quarter of 2023 climbed by 7.5%, while overall retail sales rose by a mere 0.6%. A significant 15.4% of all sales in the second quarter of 2023 were conducted through online stores. This data underscores the instrumental role of e-commerce in driving the growth of the ice cream and frozen dessert market.

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Innovations on the Horizon: Beyond Meat’s Plant-Based Marvel

– Beyond Meat’s Plant-Based Revolution

Major players in the market are actively innovating to maintain their market position. A noteworthy example is Beyond Meat Inc., a US-based food company, which introduced three frozen plant-based ready meals at Tesco stores in May 2023. These meals, including options like Spaghetti Bolognese and Chili with Coriander Rice, cater to flexitarians, vegetarians, and vegans with busy schedules, providing a delightful plant-based twist to traditional comfort foods. The addition of ample protein content further enhances their appeal.

– Convenience and Variety at the Forefront

Beyond Meat’s plant-based ready meals not only contribute to the diversification of frozen offerings but also highlight a commitment to providing convenience and variety in the market. As consumers increasingly seek healthier and sustainable options, such innovations are poised to become integral to the market’s growth trajectory.

Segmentation Insights: A Frozen World of Choices

The ice cream and frozen dessert market is multifaceted, with segmentation providing a nuanced understanding of consumer preferences.

– By Type

The market is divided into two primary types: Ice Cream and Frozen Dessert, each catering to distinct consumer preferences.

– By Product

From traditional ice cream to gelato, frozen custard, frozen yoghurt, frozen novelties, and sorbet, the market offers an extensive range of products to meet diverse tastes.

– By Category

Categorization into conventional and sugar-free options reflects the market’s responsiveness to the varying dietary needs of consumers.

– By Distribution Channel

The distribution channels include supermarkets/hypermarkets, convenience stores, e-commerce platforms, and other channels, providing consumers with multiple avenues to access their favorite frozen delights.

– By End User

The market serves both personal and commercial consumers, further underscoring its versatility and widespread appeal.

Western Europe Takes the Lead: Regional Dominance

In 2023, Western Europe emerged as the largest region in the ice cream and frozen dessert market, showcasing the region’s penchant for frozen delights. As the market continues to evolve, it’s evident that the sweet success story is not confined to a single region but reflects a global phenomenon.

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The Ice Cream And Frozen Dessert Global Market Report 2023  provides comprehensive insights on the ice cream and frozen dessert market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the ice cream and frozen dessert market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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