Report : Europe Ice Cream Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Flavor (Vanilla, Chocolate, Fruit, and Others), Category (Conventional and Sugar Free), Form (Cups and Tubs, Bars and Sticks, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 3.7% CAGR, the Europe Ice Cream Market is speculated to be worth US$ 33,811.08 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe ice cream market was valued at US$ 27,230.79 million in 2022 and is expected to reach US$ 33,811.08 million by 2028, registering an annual growth rate of 3.7% from 2022 to 2028. Innovative flavors and loaded indulgence and high demand for frozen desserts are the critical factors attributed to the market expansion.
Ice cream manufacturers are developing products with nutritional components, organic herbal fillings, and exotic flavors in product formulation to acquire a competitive advantage and appeal to more consumers. Manufacturers are introducing new exotic flavors such as coconut, lemon, and tropical fruits to adapt to shifting consumers' tastes. Additionally, consumers concerned about their health favor Skinny Cow, a low-calorie and low-fat ice cream brand. As a result, their consumer base is increasing. Additionally, the favorable regulations support the market innovations that were examined. Ice cream manufacturers are investing significantly in product innovation to expand their customer base and meet emerging consumer trends. Many brands and companies are launching innovative limited edition and seasonal flavors for frozen desserts in collaboration with other small players, which is gaining traction among consumers. Therefore, catering premium products with innovative flavors and loaded indulgences to consumers are driving the growth of ice cream market.
On the contrary, health problems associated with ice cream hurdles the growth of Europe ice cream market.
- Based on flavor, the Europe ice cream market is segmented into vanilla, chocolate, fruit, and others. The chocolate segment held 33.1% market share in 2022, amassing US$ 9,013.07 million. It is projected to garner US$ 10,944.85 million by 2028 to expand at 3.3% CAGR during 2022–2028.
- Based on category, the Europe ice cream market is segmented into conventional and sugar free. The conventional segment held 93.8% market share in 2022, amassing US$ 25,555.51 million. It is projected to garner US$ 31,681.12 million by 2028 to expand at 3.6% CAGR during 2022–2028.
- Based on form, the Europe ice cream market is segmented into cups & tubs, bars & sticks, and others. The cups & tubs segment held 55.5% market share in 2022, amassing US$ 15,109.81 million. It is projected to garner US$ 18,578.37 million by 2028 to expand at 3.5% CAGR during 2022–2028.
- Based on distribution channel, the Europe ice cream market is segmented into supermarkets and hypermarkets, specialty store, online retail, and others. The supermarkets and hypermarkets segment held 63.9% market share in 2022, amassing US$ 17,391.45 million. It is projected to garner US$ 21,401.19 million by 2028 to expand at 3.5% CAGR during 2022–2028.
- Based on country, the Europe ice cream market is segmented into Germany, UK, France, Italy, Russia, and Rest of Europe. Our regional analysis states that rest of Europe captured 38.1% market share in 2022. It was assessed at US$ 10,364.11 million in 2022 and is likely to hit US$ 12,412.21 million by 2028, exhibiting a CAGR of 3.1% during the forecast period.
Key players dominating the Europe ice cream hmarket are General Mills Inc.; Inspire Brands, Inc.; Lotte Confectionery Co., Ltd.; Mars, Incorporated; Nestlé S.A.; and Unilever among others.
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