The global ice cream market will grow to 113 billion dollars by 2028
Source: The DairyNews
Since 2020, the global ice cream market has been steadily growing. In 2023, the world produced 14.7 million tons of ice cream worth $86.7 billion. By 2028, the global market volume may reach 16.3 million tons or $113.4 billion, The DairyNews reports, citing materials from the Federal Center Agroexport by Russia.
According to Agroexport, low-calorie types of ice cream and low-sugar products are gaining popularity in the world, which is associated with the trend towards a healthy lifestyle.
At the same time, the industry's driver is the expansion of the retail market. The most popular ice cream distribution channels are discounters, online stores and convenience stores.
According to the forecast, the markets of China, Russia, Iran and India will grow at a faster pace in the next five years. The largest growth is projected in Iran — 27% per year. In Russia, the cumulative average annual growth rate in the period 2023-2028 will be 6.2%.
Today, one third of the global ice cream market is in Asia, the Middle East and Africa. The share of the Asia-Pacific region is 26% ($22.6 billion), the share of the Middle East and Africa is 7.2% ($6.2 billion).
Sherbets, sorbets and fruit ice are in great demand in African countries, and the most popular containers are "take home" containers. In the Middle East (UAE and KSA), traditional ice cream formats are popular, as well as ice cream based on vegetable milk with the addition of natural fruit additives. Handmade ice cream of the premium price segment is in high demand in the Persian Gulf countries.
In the Asia-Pacific region, China is the undisputed leader in ice cream consumption. Types of vegetable milk ice cream, fruit sorbets and sherbets with exotic flavors are in great demand here.
At the same time, the industry's driver is the expansion of the retail market. The most popular ice cream distribution channels are discounters, online stores and convenience stores.
According to the forecast, the markets of China, Russia, Iran and India will grow at a faster pace in the next five years. The largest growth is projected in Iran — 27% per year. In Russia, the cumulative average annual growth rate in the period 2023-2028 will be 6.2%.
Today, one third of the global ice cream market is in Asia, the Middle East and Africa. The share of the Asia-Pacific region is 26% ($22.6 billion), the share of the Middle East and Africa is 7.2% ($6.2 billion).
Sherbets, sorbets and fruit ice are in great demand in African countries, and the most popular containers are "take home" containers. In the Middle East (UAE and KSA), traditional ice cream formats are popular, as well as ice cream based on vegetable milk with the addition of natural fruit additives. Handmade ice cream of the premium price segment is in high demand in the Persian Gulf countries.
In the Asia-Pacific region, China is the undisputed leader in ice cream consumption. Types of vegetable milk ice cream, fruit sorbets and sherbets with exotic flavors are in great demand here.
