At 3.2% CAGR, the North America Ice Cream Market is Projected to be Worth US$ 31,788.48 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the North America ice cream market was valued at US$ 24,700.08 million in 2023 and is expected to reach US$ 31,788.48 million by 2031, registering a CAGR of 3.2% from 2023 to 2031. Popularity of ice cream among all age groups and Increasing Demand for Dairy-Free and vegan ice cream are among the critical factors attributed to the North America ice cream market expansion.

Over the past few years, the demand for ice cream market across all groups has significantly driven the market growth, ensuring a broad and consistent consumer base. Unlike other products that cater to specific demographics, ice cream appeals to children, adults, and seniors. Children enjoy it as a fun and tasty treat, while adults often consume it as a nostalgic comfort food or an indulgent dessert. This universal appeal reduces market segmentation, allowing producers to market their products to a wide audience, which in turn drives market growth. In addition, people's social and emotional connection with ice cream is often associated with positive experiences, celebrations, and comfort, making it a versatile treat for various occasions. This emotional resonance transcends age, creating lifelong customers who continue to enjoy ice cream throughout their lives.

The increasing number of product launches in the frozen dairy products segment by key players in the market is driving the ice cream market. For instance, in June 2024, Perry's Ice Cream completed the expansion of its production facility of ice cream in Akron, US. The expansion aimed to increase the production of frozen desserts to cater to the growing demand for ice cream. Further, several initiatives such as mergers & acquisitions and collaborations by various manufacturing companies contribute to the increasing demand for frozen desserts.

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

Based on flavor, the North America ice cream market is segmented into vanilla, chocolate, berries, matcha, and others. The chocolate segment held 30.2% share of the North America ice cream market in 2023, amassing US$ 7,470.15 million. It is projected to garner US$ 10,248.32 million by 2031 to expand at 4.0% CAGR during 2023–2031.

Based on category, the North America ice cream market is bifurcated into conventional and sugar free. The conventional segment held 80.8% share of the North America ice cream market in 2023, amassing US$ 19,965.94 million. It is projected to garner US$ 25,346.29 million by 2031 to expand at 3.0% CAGR during 2023–2031.

Based on form, the North America ice cream market is segmented into cups and tubs, bars and sticks, and others. The cups and tubs segment held 57.8% share of the North America ice cream market in 2023, amassing US$ 14,265.70 million. It is projected to garner US$ 17,979.73 million by 2031 to expand at 2.9% CAGR during 2023–2031.

Based on distribution channel, the North America ice cream market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment held 49.8% share of the North America ice cream market in 2023, amassing US$ 12,298.95 million. It is projected to garner US$ 15,420.95 million by 2031 to expand at 2.9% CAGR during 2023–2031.

Based on country, the North America ice cream market is segmented into the US, Canada, and Mexico. The US held 72.2% share of North America ice cream market in 2023, amassing US$ 17,835.93 million. It is projected to garner US$ 22,817.51 million by 2031 to expand at 3.1% 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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