Ice cream market: Global industry trends, share, size, growth, opportunity and forecast 2019–2024

Abstract

The global ice cream market is projected to grow from US$57.7 billion in 2018 to US$91.2 billion by 2024, with a compound annual growth rate of 8.0%. This growth is attributed to rising health consciousness, better knowledge of ingredients, rapid urbanization, growing disposable incomes, and improving purchasing power in emerging regions. Vanilla is the most popular flavor of ice cream, while impulse ice cream is the most popular category. The majority of consumers prefer purchasing ice cream cups from supermarkets and hypermarkets. Asia Pacific presently accounts for the majority of market share. Some challenges faced by the ice cream industry include rising production costs, fluctuating prices of raw materials, and concerns regarding the environmental impact of ice cream production – AI-generated abstract.