At 4.5% CAGR, the Middle East & Africa Ice Cream Market is Projected to be Worth US$ 7,276.35 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa ice cream market was valued at US$ 5,102.59 million in 2023 and is expected to reach US$ 7,276.35 million by 2031, registering a CAGR of 4.5% from 2023 to 2031. Increasing demand for dairy-free and vegan ice cream and popularity of ice cream among all age groups are among the critical factors attributed to the Middle East & Africa ice cream market expansion.

Veganism has gained significant momentum in recent years. Consumers are highly inclined toward plant-based products as they perceive them as healthier than conventional products. Further, increasing awareness regarding animal protection and environmental sustainability is boosting the popularity of these food products. The proliferation of veganism among people in Southeast Asia is highly influencing innovations in the ice cream market. According to data published by Veganuary, a nonprofit organization that encourages people to become vegan for the whole month of January, ~5.8 million people signed up for the "Veganuary Campaign" in 2021.

Popular brands such as Ben & Jerry's and Nestle SA are active in the plant-based ice cream market. To cater to the increasing demand, ice cream manufacturers are launching plant-based, vegan ice creams. For instance, in 2022, Ben & Jerry's launched two plant-based ice creams: Chocolate Milk and Cookies and Dirt Cake. Vegan ice cream helps improve digestion, strengthen immune system functioning, and improve blood pressure. Thus, the growing inclination toward plant-based food products due to the growing popularity of veganism is expected to bring new trends to the ice cream market during the forecast period.

On the contrary, health concerns associated with ice cream hampers the growth of Middle East & Africa ice cream market.

Based on flavor, the Middle East & Africa ice cream market is segmented into vanilla, chocolate, berries, matcha, and others. The vanilla segment held 30.3% share of the Middle East & Africa ice cream market in 2023, amassing US$ 1,543.83 million. It is projected to garner US$ 2,109.89 million by 2031 to expand at 4.0% CAGR during 2023–2031.

Based on category, the Middle East & Africa ice cream market is bifurcated into conventional and sugar free. The conventional segment held 90.9% share of the Middle East & Africa ice cream market in 2023, amassing US$ 4,637.30 million. It is projected to garner US$ 6,573.07 million by 2031 to expand at 4.5% CAGR during 2023–2031.

Based on form, the Middle East & Africa ice cream market is segmented into cups and tubs, bars and sticks, and others. The cups and tubs segment held 56.8% share of the Middle East & Africa ice cream market in 2023, amassing US$ 2,899.60 million. It is projected to garner US$ 4,046.94 million by 2031 to expand at 4.3% CAGR during 2023–2031.

Based on distribution channel, the Middle East & Africa ice cream market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment held 63.6% share of the Middle East & Africa ice cream market in 2023, amassing US$ 3,246.98 million. It is projected to garner US$ 4,594.10 million by 2031 to expand at 4.4% CAGR during 2023–2031.

Based on country, the Middle East & Africa ice cream market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. The Rest of Middle East & Africa held 50.2% share of Middle East & Africa ice cream market in 2023, amassing US$ 2,563.03 million. It is projected to garner US$ 3,539.58 million by 2031 to expand at 4.1% 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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