Ice Cream Market Trends, and Analysis Report by 2031

The ice cream market size is projected to reach US$ 138.55 billion by 2031 from US$ 97.94 billion in 2023. The market is expected to register a CAGR of 4.4% during 2023–2031. The increasing demand for dairy-free and vegan ice cream is likely to act as a key trend in the market.

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The increase in demand for premium ice creams, availability of various flavors, and rise in preference for non-preservatives and natural ingredients are among the factors driving the ice cream market growth. The demand for low-fat, natural ice creams with high taste and indulgence is increasing in Europe. The growing preference for frozen desserts as a digestive aid after meals boosts the demand for these treats.

The increasing interest of ice cream manufacturers in fortification and the addition of functional ingredients may influence the consumer's decision to select a healthy alternative. Beyond basic nutrition, functional food provides advantages that can help lower or prevent the risk of certain diseases. Furthermore, sugar-free, low-fat functional ice creams are gaining huge popularity due to their health benefits.