Ice Cream Industry in Emerging Markets to Reach $18.69 Billion by 2028, Led by China, India, and Brazil
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.
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