The Future of the Global Ice Cream Market

Global Ice Cream Market

Posted: Nov. 29, 2017

The ice cream industry is hot and is predicted to keep heating up over the next five years. Market research firm the IMARC Group spent considerable effort delving deep into the ice cream industry and recently published their findings in the report Ice Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022. The report offers illuminating predictions, such as changes in production, consumer spending, and trends. Additionally, the report touches on the importance of adapting modern technology like mobile Ice Cream Shop POS systems to streamline operations. Today, we share the highlights.

Highlights of the Global Ice Cream Market

In their report, the IMARC Group states that by 2022, the ice cream market will be valued at $78 billion. These are their reasons for predicting such an impressive growth:

  1. Innovative products and flavors will continue to be introduced.
  2. Rising disposable incomes will allow artisan and premium ice cream brands to flourish.
  3. Manufacturers will continue offering varieties like low-fat.

Innovation

When Dippin’ Dots introduced the “ice cream of the future,” consumers were floored by the odd yet delightful style of ice cream. The mini balls were tasty, and perhaps most importantly, made someone feel like they were an astronaut—even if just for a few spoonfuls.

Innovation like this—that excites and intrigues customers—will be one of the main drivers of the global ice cream market.

  • Made with nitrogen: Dippin’ Dots was the first to mainstream ice cream made with nitrogen, but there are others blazing trails with this unique production style, like Smitten Ice Cream. At this ice cream shop, customers can receive a fresh batch of ice cream on the spot within 90 seconds!
  • Coolhaus: These trendy ice cream makers are known for bold flavors like Cuban Cigar, Peking Duck, and Milkshake and Fries. Coolhaus is a creative force in the ice cream industry. They’re not the only ones either, there are many ice cream producers coming up with wacky flavors.
  • Wikipearl: The Wikipearl is edible packaging. The mastermind behind Wikipearl solved two contentious problems with his invention: littering and packaging. Now you can eat the tub and your pint of ice cream.
  • 3-D Printed Ice Cream: Dippin’ Dots might have to give up its tagline as the future of ice cream. There is now a digital food printer that can print ice cream.

Innovation follows those hard at work. It’s evident that the ice cream industry has many clever and creative people already redefining the norms. These examples of innovative ice cream makers and technologies are proof that the industry will continue being shaped by new ideas.

Rising Disposable Incomes

The recession of 2010 shook up the global economy, and it led to some interesting changes. In regards to this article; most notably that consumers who couldn’t afford major purchases like cars or houses, were opting to spend their money on affordable luxuries like artisan gelato and premium ice cream brands.

Consumers also became more conscious of where they were spending money, preferring businesses that showed a sense of social or eco-responsibility; or, relative to the ice cream industry, businesses that produced authentic and house-made products. Small businesses like artisanal ice cream shops opened in high numbers.

Rising disposable incomes and the volume of artisanal ice cream shops have cemented homemade and premium ice cream as thriving segments in the ice cream industry. Their success is expected to grow.

Manufacturers Offer Diverse Ice Creams

Today’s food and beverage consumers are health-conscious. They are buying items that make them feel healthy and that tout wholesome qualities; even concerning ice cream purchases. Manufacturers are taking note by offering variants that include low-fat and low-sugar options, lactose- and gluten-free ice cream, as well as organic ingredients.

As an ice cream shop owner, your direct competition is not industry-leading manufacturer’s like Unilever, but it’s good to be aware of what the big companies are doing.

The next five years see a great deal of growth in the ice cream industry. The ideas you have will help to shape its future.

Facts: The Global Ice Cream Industry

These are the facts that every player in the ice cream industry should know: 

  • In 2016, the global ice cream industry was valued at $50 billion.
  • The CAGR grew 8% between 2009 and 2016.
  • Ice cream is one of the leading dairy-based desserts.
  • Vanilla, chocolate, and strawberry are the most popular flavors.
  • Ice cream, frozen yogurt, gelato, and sherbet are consumed by all age groups.
  • Ice cream is a rich source of energy, calcium, phosphorus, carbohydrates, and vitamins A, C, D, E, K, B6, and B12.
  • Ice cream produces endorphins, dopamine, and serotonin; which are known to help diminish stress-related side effects.
  • Asia Pacific represents the largest region, accounting for nearly half of the total market share.
  • The major manufacturers are:
    • Unilever
    • Nestlé
    • Yili Industries
  • The global ice cream market by region:
    • Asia Pacific
    • North America
    • Europe
    • South America
    • The Middle East and Africa

 

Posted: Nov. 29, 2017 | Written By: Emma Alois

Trends

Latest

5 Back to School Restaurant Promotions

Aug. 16, 2018 | 0

Trends

Labor Day is less than three weeks away, which means school is about to start. Over the next few days, families are busy getting school supplies and cramming in one more vacation. This gives your restaurant enough time to prepare several promotions that celebrate going back to school. Below, we…

read more

Popular

Increase Your Restaurant Traffic with These 6 Social Media Tips

Jan. 23, 2017 | 6

Trends

As a restaurant owner, you likely know how much of an impact social media can have on your…

read more

All Articles

5 Back to School Restaurant Promotions

Aug. 16, 2018 | 0

Trends

Labor Day is less than three weeks away, which means school is about to start. Over the next few…

read more

Seasonal Menus Offer New Ways to Promote Your Restaurant

Aug. 08, 2018 | 0

Trends

If you haven’t already, create a seasonal menu that highlights the freshest produce and fruits…

read more

Meal Kit Industry Relies on Star Power to Survive

Aug. 06, 2018 | 0

Trends

Can celebrities help meal kit companies attract more customers? The industry is betting on it.…

read more

Employ and Retain the Right Line Cooks

Aug. 03, 2018 | 0

Success Tips

Hiring great line cooks is notoriously difficult, and retaining them is no easier. Here is our…

read more

How to Handle Crises at Your Restaurant

Aug. 01, 2018 | 0

Success Tips

How to Handle Crises at Your Restaurant  No dining or beverage entity is too small to go under the…

read more

Ice Cream Shops: Prepare Now for Winter

Jul. 30, 2018 | 0

Success Tips

Ice Cream Shops: Prepare Now for Winter  As the owner of an ice cream shop, start making plans…

read more

5 Reasons Why Restaurants Are Going Cashless

Jul. 27, 2018 | 0

Trends

The newest tech trend in restaurants? Going cashless. You read that right. If you think a business…

read more

4 Reasons Why it's Hard to Hire Seasonal Staff

Jul. 24, 2018 | 0

Management

It’s nearly half-way through summer and you might be dealing with an unexpected problem: hiring…

read more

9 Surefire Ways to Increase Restaurant Sales

Jul. 23, 2018 | 1

Success Tips

The food and beverage industry certainly has its specifics, but when attempting to increase…

read more