Ice Cream Industry in Emerging Markets to Reach $18.69 Billion by 2028, Led by China, India, and Brazil
Source: DairyNews.today
The ice cream markets in Brazil, China, India, Mexico, and South Africa are projected to grow significantly, with combined industry revenues rising from $13.99 billion in 2023 to $18.69 billion by 2028. This growth reflects a compound annual growth rate (CAGR) of 6% over the forecast period.
China currently leads the ice cream industry among these top five emerging markets, generating $7.89 billion in 2023. It is expected to maintain its dominant position, reaching $9.70 billion by 2028. India and Brazil are also poised for robust growth, with forecasted values of $3.96 billion and $3.40 billion, respectively, in 2028.
As demand for ice cream continues to expand in these emerging economies, driven by rising disposable incomes and increasing urbanization, industry players are well-positioned to capitalize on these growth opportunities.
