Frozen Dessert Market Size was valued at USD 123.75 billion in 2023. The Frozen Desserts industry is projected to grow from USD 127.30 Billion in 2024 to USD 195.50 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.51% during the forecast period (2024 - 2032). Rising demand for frozen dessert products and increasing disposable income are the key market drivers boosting the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The popularity of various ice cream varieties is rising. The growing demand for small-portion snacks has led to an increase in ice cream for immediate consumption. Due to the rise in the number of events and gatherings where ice cream is served as a snack or dessert at home, takeout ice cream is also in high demand. Finally, due to its all-natural flavors, organic ingredients, and nutritious ingredients like nuts and fruit, artisanal ice cream is a favorite among consumers who are concerned about their health.
Due to growing health consciousness among a larger population segment who value quality and origin of ingredients as well as exotic flavors, demand for high quality "premium" ice cream is also rising. Higher levels of urbanization also appear to be contributing to higher ice cream consumption, as evidenced by an increase in retail sales. Additionally, as these types of establishments are significant end-users [DPO], a boom in fast food chain restaurants is also contributing to an increase in consumption.
Figure 1: Most consumed ice cream brands (all typologies of ice cream) UK, 2019, in millions of consumers
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Ice cream sales outside of the home decreased by 30% in the first half of 2020, while sales of ice cream for consumption inside the home increased by 26% in the second quarter, according to Unilever, a significant manufacturer of ice cream and novelty items. ly, ice cream companies responded to the novel coronavirus pandemic by introducing new flavors and products to cater to consumers who stayed at home but still wanted comfort, indulgence, and variety. A September 2020 report on the ice cream market found that 76% of ice cream producers introduced a new variety, range extension, or entirely new product to the market. This is another factor driving the growth of the Frozen Desserts market revenue.
Additionally, several businesses are attempting to diversify their product offerings in this market due to the growing demand for frozen desserts. For instance, the world's largest producer of carbonated beverages, Coca-Cola, increased its revenue by introducing frozen desserts in India. The company also disclosed plans to invest Rs. 11,000 crores in building an ecosystem focused on agriculture, as well as in food processing facilities and sourcing, which will enable it to launch a range of fruit-based goods and desserts on the market. Such initiatives are anticipated to boost the market CAGR during the forecast period.
The Frozen Desserts market segmentation, based on product type, includes ice cream, yogurts, cakes, and others. The ice cream segment held the majority share in 2022 contributing to around 45-47% in respect to the Frozen Desserts market revenue. Due to ice cream's rising popularity across all generations, the demand for it is significantly rising. The United States ice cream producers produced more than 1.3 billion gallons of ice cream in 2021. According to IDFA's Dairy Delivers, the ice cream industry has a $13.1 billion impact on the American economy, supports 28,800 direct jobs, and generates $1.8 billion in direct wages. The yogurts segment is anticipated to grow at the fastest CAGR during the forecast period.
June 2021: Keventers is launching its desserts in India by launching its new ‘Ice Creamery’ brand that will have six exciting and fun ice cream flavors including Alphonso Mango; Belgian Chocolate; Mocha Almond Fudge Brownie; Triple Chocolate; Exotic Strawberry and Blueberry Cheesecake. The ice creams don't have any extra flavor or preservatives.
June 2022: Noosa, owned by Sovos Brands, is expanding into the frozen dessert market for the first time with the introduction of its all-new Noosa Frozen Yogurt Gelato line. Noosa Frozen Yogurt Gelato is a decadently smooth dessert that devotees will want to savor repeatedly. It is made with the same rich, creamy whole milk yogurt.
Figure 2: Frozen Desserts Market, by Product Type, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Frozen Desserts market segmentation, based on category, includes Conventional and Sugar-Free. The Conventional segment dominated the market in 2022 The demand for the segment would be driven in the forecast period by rising millennial demand for convenience food products along with new launches in this segment with varied flavors to attract customers. Such factors are anticipated to have a positive impact on market growth. Sugar-free is projected to be the faster-growing segment during the forecast period, 2022-2030. Due to their health advantages, handcrafted and sugar-free ice creams are both growing in popularity. Moreover, the rise of health-conscious consumers looking for a low-carb, low-sugar diet with nutritional advantages will be good for market expansion.
The Frozen Desserts market data has been bifurcated by distribution channels into store-based and non-store-based. The store-based segment dominated the market in 2022. Numerous cafes and bakeries that sell frozen desserts have opened as a result of the growing trend of buying products from specialty stores. They were forced by current trends to incorporate wholesome desserts into their menus, which has improved their product selection. In addition, several online delivery partners are developing creative ways to deliver frozen desserts to various locations that are just as fresh as their source points. Frozen dessert purchases have increased online sales.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific Frozen Desserts market accounted for USD 55.1 billion in 2022 and is expected to exhibit a noteworthy CAGR growth during the study period. The Asian market for frozen desserts is destined to be a huge success because of the rising demand for low-fat, wholesome foods that encourage consumers to spend more money on these items. The main drivers of the frozen desserts market in this region are a large population, a sizable young generation, rising disposable incomes, and shifting eating patterns. Additionally, ice cream manufacturers are responding to consumers' growing demand for natural ingredients by incorporating them into their products. Moreover, China’s Frozen Desserts market held the largest market share, and the India Frozen Desserts market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.Figure 3: FROZEN DESSERTS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Frozen Desserts market accounts for the third-largest market share in 2022. The frozen bakery and desserts category has seen a lot of ground-breaking products recently. Consumers are becoming more conscious of their overall wellness and health. As a result, new flavors and low-fat, gluten-free products have begun to appear. Market expansion is anticipated to be fueled by rising consumer demand for desserts with low sugar and calorie content. Further, the Germany Frozen Desserts market held the largest market share, and the UK Frozen Desserts market was the fastest-growing market in the European region.
The North America Frozen Desserts Market is expected to grow to the second largest market in 2022. Consumer preferences for low-fat products are changing as a result of shifting trends toward vegan lifestyles brought on by rising health consciousness and socialization trends. High ice cream consumption per capita has increased product demand, especially in the United States.
The Major market players are focused on diversifying their product portfolios by investing heavily within their R&D departments. Additionally, players are focused on integrating various market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other companies in the market to widen their presence further. The dominant players in the Frozen Desserts industry further offer to optimize their supply chains to widen their profit margins.
To reduce operating costs, the market leaders in the Frozen Desserts industry are offering their products at a moderate price. During the forecast period, the Frozen Desserts industry has produced highly viable products. The Frozen Desserts market major player such as The Hain Celestial Group (US), Halo Top Creamery (US), General Mills Inc. (US), Unilever (UK), Nestlé SA (Switzerland), Kellogg Company (US), DD IP Holder LLC (US), Conagra Brands Inc. (US), London Dairy Co. Ltd (UK), Danone SA (France), Dairy Queen (US), Ferrero (Luxembourg), Daiya Foods Inc. (Canada), Archer Daniels Midland Company (US), Nestlé S.A. (Switzerland), Arla Foods amba (Denmark), and Unilever (UK), and others are working to expand the market demand by investing in research and development activities.
Unilever is a company that manufactures and distributes products in the nutrition, hygiene, and personal care sector. In January 2021, Unilever introduced a few frozen treats namely Breyers, Good Humor, Klondike, Magnum Ice Cream, Popsicle, and Talenti. Breyers Double Chocolate Brownie Batter, Breyers Chocolate Pretzel Swirl, and Breyers Reese's Peanut Butter Snack Cups are all new items under the Breyers brand that complement the existing Breyers and Reese's product line. The portfolio also gains Breyers Coconut Fudge Breeze, a new seasonal flavor.
Archer Daniels Midland is a pioneer in the field of nutrition, using the power of nature to imagine, develop, and combine flavors and ingredients for food and beverages, supplements, animal feed, and more. In August 2022, New Culture, a maker of cheese without using any animals, and Archer Daniels Midland have announced a partnership for strategic development and commercialization. As the company expands its commercial reach, ADM's fermentation and dairy processing operations will assist in producing cheese for New Culture.
Frozen Desserts Industry Developments
March 2022: Vadilal Enterprises introduced new Gourmet Natural ice-cream flavors. Additionally, the company created a quirky advertising campaign that featured Gulab Jamun Uncle, who is now known as Vadilal Ice Cream Uncle.
May 2021: Marvelous Foods, a Beijing-based company, recently opened its flagship location on Tmall, featuring its signature product: Yeyo Coconut Yogurt with no added sugar, sweeteners, or artificial flavors.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 123.75 billion |
| Market Size 2024 | USD 127.30 billion |
| Market Size 2032 | USD 195.50 billion |
| Compound Annual Growth Rate (CAGR) | 5.51% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019 - 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Category, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | The Hain Celestial Group (US), Halo Top Creamery (US), General Mills Inc. (US), Unilever (UK), Nestlé SA (Switzerland), Kellogg Company (US), DD IP Holder LLC (US), Conagra Brands Inc. (US), London Dairy Co. Ltd (UK), Danone SA (France), Dairy Queen (US), Ferrero (Luxembourg), Daiya Foods Inc. (Canada), Archer Daniels Midland Company (US), Nestlé S.A. (Switzerland), Arla Foods amba (Denmark), and Unilever (UK) |
| Key Market Opportunities | Growing demand for ice cream |
| Key Market Dynamics | Rising health consciousness led to the growing consumption of yogurt and dairy-free products New product launches |
Frozen Dessert Market Highlights:
Frequently Asked Questions (FAQ) :
The Frozen Desserts market size was valued at USD 123.75 Billion in 2023.
The market is projected to grow at a CAGR of 5.51% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the market
The key players in the market are The Hain Celestial Group (US), Halo Top Creamery (US), General Mills Inc. (US), Unilever (UK), Nestlé SA (Switzerland), Kellogg Company (US), DD IP Holder LLC (US), Conagra Brands Inc. (US), London Dairy Co. Ltd (UK), Danone SA (France), Dairy Queen (US), Ferrero (Luxembourg), Daiya Foods Inc. (Canada), Archer Daniels Midland Company (US), Nestlé S.A. (Switzerland), Arla Foods amba (Denmark), and Unilever (UK).
The ice cream category dominated the market in 2023.
The conventional category had the largest share of the market.
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