At 4.3% CAGR, the Europe Ice Cream Market is Projected to be Worth US$ 39,254.13 Million by 2031, Says Business Market Insights

According to Business Market Insights research, the Europe ice cream market was valued at US$ 27,971.23 million in 2023 and is expected to reach US$ 39,254.13 million by 2031, registering a CAGR of 4.3% from 2023 to 2031. Availability of innovative flavors and rising popularity of functional ice cream are among the critical factors attributed to the Europe ice cream market expansion.

Ice cream manufacturers are developing products with nutritional components, organic herbal fillings, and exotic flavors in product formulation to gain a competitive advantage and attract more consumers. Manufacturers are introducing exotic flavors such as coconut, lemon, and tropical fruits to adapt to shifting consumers' taste preferences. Additionally, consumers are concerned about their health. Thus, manufacturers are modifying the ingredients used in the products based on consumer preferences and introducing new products to differentiate their offerings. In September 2021, Häagen-Dazs launched a spirit-infused ice cream with a flavor of five traditional pints made with Irish cream, rum, bourbon, and stout. In addition, in November 2023, LiQ and Baileys entered into a partnership agreement to launch liquor-infused ice cream pralines.

Ice cream manufacturers are investing significantly in product innovation to expand their customer base and meet emerging consumer demands. Many market players are launching innovative limited edition and seasonal flavors for frozen delight in collaboration with local players to attract consumers. For instance, in July 2021, Kraft Macaroni & Cheese launched a limited-edition ice cream in collaboration with Van Leeuwen—a Brooklyn-based ice cream brand. These two brands collaborated to launch a Kraft Macaroni & Cheese summer treat that claims to have no artificial flavors or preservatives. Kraft Macaroni & Cheese ice cream would be available at Van Leeuwen scoop shops and online platforms such as Amazon and Walmart in various countries. In April 2024, Unilever announced the launch of its first ice cream with mood-inspired flavors such as Magnum Pleasure Express. The launch was aimed at expanding its premium ice cream portfolio. Therefore, the availability of innovative ice cream flavors is propelling the growth of the global ice cream market.

On the contrary, health concerns associated with ice cream hamper the growth of Europe ice cream market.

Based on flavor, the Europe ice cream market is segmented into vanilla, chocolate, berries, matcha, and others. The vanilla segment held 27.4% share of the Europe ice cream market in 2023, amassing US$ 7,671.79 million. It is projected to garner US$ 10,318.73 million by 2031 to expand at 3.8% CAGR during 2023–2031.

Based on category, the Europe ice cream market is bifurcated into conventional and sugar free. The conventional segment held 82.6% share of the Europe ice cream market in 2023, amassing US$ 23,107.82 million. It is projected to garner US$ 32,010.41 million by 2031 to expand at 4.2% CAGR during 2023–2031.

Based on form, the Europe ice cream market is segmented into cups and tubs, bars and sticks, and others. The cups and tubs segment held 56.2% share of the Europe ice cream market in 2023, amassing US$ 15,707.14 million. It is projected to garner US$ 21,739.60 million by 2031 to expand at 4.1% CAGR during 2023–2031.

Based on distribution channel, the Europe ice cream market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment held 52.0% share of the Europe ice cream market in 2023, amassing US$ 14,555.33 million. It is projected to garner US$ 20,113.33 million by 2031 to expand at 4.1% CAGR during 2023–2031.

Based on country, the Europe ice cream market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The Rest of Europe held 32.3% share of Europe ice cream market in 2023, amassing US$ 9,026.32 million. It is projected to garner US$ 11,594.57 million by 2031 to expand at 3.2% CAGR during 2023–2031.

Key players operating in the ice cream market are Blue Bell Creameries; Unilever Plc; Nestle SA; General Mills Inc; Mars Inc; Wells Enterprises Inc; Turkey Hill Dairy; Dairy Farmers of America, Inc.; Morinaga Milk Industry Co Ltd; Kwality Foods, LLC.; Baskin-Robbins; David Chapman’s Ice Cream Limited; Cold Stone Creamery; Lotus Bakeries NV; and IMURAYA GROUP CO., LTD, among others.

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