The global ice cream market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing demand for ice creams from all age groups in countries with hot climatic conditions such as India, China, Brazil, Indonesia, south Africa, and other countries is expected to drive growth of the global ice cream market.
The global ice cream market is segmented on the basis of sales type and region.
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On the basis of product, the global ice cream market is segmented into impulse, artisanal, and take home. The impulsive segment is expected to account for highest share in the global ice cream market in terms of revenue. This can be attributed to preference for immediate consumption of ice cream through cups, cones, ice lollies, sandwiches, ice cream bars, and sticks. The take home segment is projected to register highest CAGR over the forecast period.
On the basis of region, the global ice cream market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Asia Pacific market accounted for largest market share in the global ice cream market in 2016. This can be attributed to increasing preference for ice cream with various flavors due to favorable climatic conditions and presence of prominent players operating in this region. Market in North America is expected to register moderate CAGR in terms of revenue, followed by Europe market.
Key players operating in the global market include Unilever Group, Nestle S.A., General Mills, Inc., Mars, Blue Bell Creameries, Lotte Confectionery, Wells Dairy Inc., Turkey Hill, Mihan Dairy Inc., and Meiji Holdings Co. Ltd.