The size of the global ice cream industry is expected to increase by USD29.58bn between 2024 and 2028, according to research company Technavio.
Over the course of the projection period, the market is anticipated to rise at a CAGR of 5.99%.
The main trends and factors influencing the North American ice cream market are highlighted by Technavio’s analysts. In terms of ice cream sales, the US led the area in 2023. Numerous new product launches and higher company investments fuel the market’s expansion. Suppliers are increasing their production capabilities in response to growing customer demand.
Low-fat and plant-based ice cream are in high demand due to health-conscious consumers; examples of this may be seen in the rising popularity of Breyers’ oat milk-based ice cream bars. Notable is the tendency toward lower-calorie alternatives, which suggests that the local market has significant room to develop over the course of the projection.
Over the projection period, the impulse ice cream market is expected to increase dramatically. This includes items bought for on-the-spot consumption, such as sandwiches, ice cream bars, lollies, cones, cups, and sticks. This trend is being driven by factors including the need for small-portion snacks and the desire for pleasure. To draw in customers, businesses are spending money on creative marketing initiatives.
Find out more: https://www.technavio.com