Report Overview

The global ice cream market size was valued at USD 76.11 billion in 2023 and is projected to grow from USD 79.08 billion in 2024 to USD 132.32 billion by 2032, exhibiting a CAGR of 6.65% during the forecast period.

Extrusion helps manufacturers to produce products with a unique design and shape. Extrusion’s processing equipment improves product stabilization and helps to blend raw materials. The increasing demand for extruded ice cream is estimated to boost market growth during the projected period.

Fortune Business Insights™ mentioned this in a report titled, “Extruded Ice Cream Market, 2024-2032.”

List of Key Players Present in the Report:

  • Unilever (U.K.)
  • Tillamook (U.S.)
  • Nestlé S.A., (Switzerland)
  • GCMMF (India)
  • General Mills (U.S.)
  • Dunkin’ Donuts LLC (U.S.)
  • Blue Bell Creameries (U.S.)
  • NOTO (India)
  • Vadilal Group (India)
  • Turkey Hill Dairy (U.S.)

Segments

Stick Bars Segment Growth to Grow Owing to the Convenience of Eating Ice Cream with Ease

Based on product type, the market is divided into stick bars, sandwiches, cones, and others. The stick bars segment accounts for the largest market share in 2022. The segment’s growth is driven due to the convenience of consumers to eat ice creams.

Innovative and Unique Flavors to Drive Mixed Segment Growth

By flavor, the market is classified into chocolate, strawberry, caramel, mixed, and others. The mixed segment holds the largest extruded ice cream market share. The growth is attributed to the innovative and unique flavors offered by several brands, such as Haagen Daaz, Klondike, and Breyers, to attract new consumers to purchase their products.

Wide Product Range Availability to Drive Supermarkets/Hypermarkets Segment Growth

By distribution channel, the market is categorized into supermarkets/hypermarkets, ice cream parlors, online retailers, and others. The supermarkets/hypermarkets held the largest market share in 2022. The growth is attributed to the wide availability of industrially produced extruded ice cream novelties produced by key players, including Nestle S.A., Unilever, and others in supermarkets/hypermarkets.

Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The report provides major growth drivers, restraining factors, opportunities, and potential challenges for the market. It offers comprehensive insights into regional developments, a list of major industry players, key strategies adopted by market players, and the latest industry developments, including product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints

Rising Demand for Novel Ice Cream Products to Aid Market Growth

The demand for novel ice cream products is rising due to the important role played by extrusion technology, driving extruded ice cream market growth during the forecast period. The Westernization of food habits has propelled the sales of frozen food products, including ice cream, in the Asian and the Middle Eastern nations.

However, the cost of novelty ice cream is higher than the ice cream produced conventionally, which is estimated to hinder market growth during the projected period.

Regional Insights

Growing Demand of Impulse Ice Creams Among Health-Conscious Consumers to Drive Market Growth in Europe

Europe stood at USD 4.5 billion in 2022 and holds the largest market share. The market’s growth is attributed to the increasing demand for impulse ice creams that are available in small packaging formats, including ice cream bars, sandwiches, and cones, among the health-conscious consumers in the region.

Asia Pacific extruded ice cream market is estimated to witness the highest growth during the projected period. The rising influence of Western food culture and the increasing disposable income in the Asia Pacific is expected to drive market growth in the region.

Competitive Landscape

Growing Advanced Technologies Adoption by Key Players to Drive Market Growth

The market comprises key players, such as General Mills, Unilever PLC, Nestle S.A., and others. The rising adoption of advanced technologies, such as continuous freezers, helps them to produce extruded ice cream on a large scale. The increasing collaboration between startups and other key players to introduce limited edition products to increase their market presence is expected to drive market growth during the forecast period.

Key Industry Development

  • February 2024: Unilever partnered with leading precision fermentation innovator Perfect Day to launch Breyers Lactose-Free Chocolate, which is composed of Perfect Day’s dairy protein from fermentation in the U.S.

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