What about the ice cream market? Ice cream is one of the most loved desserts worldwide among kids and adults. It might not be the healthiest option, but you can't deny that there's no sorrow a little bit of this sweet treat can't fix.
A large amount of ice cream is sold every hour, making it the top dessert in the world. Every year, an average American consumes around 9.98 Kg of ice cream and other frozen desserts.
In 2022, the ice cream industry is facing a major shift. People are now asking for healthier ice creams and more exciting flavors. The fact that adult consumers are willing to pay for better ice creams makes space for many experiments.
So if you want to know what the top ice cream flavors are and how it is expected to grow, you are at the right place.
Here are the top facts and market data about the Ice cream business.
Massive Growth in Future
The first commercially available ice cream you could get every day was advertised on May 12, 1777. It was sold by confectioner Philip Lenzi and was available in different flavors. Since then, the demand for ice cream has only skyrocketed.
Here is the ice cream market growth forecast:
- In 2020, the global ice cream market was valued at $68.052,20 million, which is expected to reach $122.051,10 million by 2031. This massive growth is due to the increasing demand for cold desserts among people of all ages.
- Magnum, one of the leading global ice cream brands, sells 1 billion units annually. According to Unilever, Magnum sales have continued to grow rapidly.
- By 2030, countries like China, Australia, New Zealand, and India are expected to have a massive surge in the ice cream industry due to increasing demand by consumers.
Healthy Ice Cream Alternatives
People are not looking for healthier alternatives to ice cream with less sugar and zero ingredients. But, with more than 79 million vegans worldwide, dairy-free ice cream can be massive.
Here is what you need to know about the new healthy ice cream trend:
- The vegan ice cream market had a value of $520.9 million in 2019, which will boom to $805,3 million as we reach 2027. These vegan ice creams are made of oat, coconut, almond, or other dairy-free milk.
- Sugar-free ice creams have also surfaced and are selling more than before due to the rise in health consciousness. Since zero sugar diets are becoming more common, sugar-free ice creams have become a common item at grocery stores.
- Europe is the largest market for healthy ice creams, growing by 13,4% from 2020 to 2027. Finland, Sweden, Denmark, Italy, and the UK are the top countries consuming the most vegan ice cream in Europe.
Artisanal Ice Cream Indulgence
Buying commercially produced ice creams is good, but investing in artisanal ice creams allows you to experience more flavors and different textures. Consumers are willing to pay more money for premium ice creams.
The artisanal ice cream market is at an all-time high. Here are the facts to support it:
- The rise in a healthy lifestyle after COVID-19 has improved the artisanal ice cream market. In 2020, the artisanal ice cream market was valued at $6,58 billion, which is expected to reach $9,52 billion in 2025.
- Artinci Artisanal, Bi-Rite Creamery, Gracie's Ice Cream, General Mills Inc, High Road Craft Brands, ROGUE ICE CREAM, The Saffron Ice Cream Co., Toscanini, and Van Leeuwen Ice Cream LLC are the key brands that play a major role in the artisanal ice cream popularity.
- The most prominent feature that artisanal ice cream brands offer is the inclusion of probiotics and proteins. It makes these ice creams more expensive than commercial ice creams.
Traditional Ice Cream Flavors
Several new ice cream flavors are being introduced in the market. However, the classic flavors are still the most wanted among people of all age groups. While the competition is increasing, the classic flavors are at the top of the list.
Here are the most demanded flavors in the ice cream industry:
- Vanilla is a classic flavor extracted from vanilla bean pods. It is the most demanded ice cream flavor in the world. It is so famous that it is considered the natural flavor of ice cream.
- The chocolate ice cream industry alone will reach $31,70 Billion by 2030. It is also one of the most common ice cream flavors among kids and young adults.
- Moreover, according to an International Dairy Food Association (IDFA) survey, Cookies and Creams are also one of the top flavors in the US.
Expect New Flavors
As mentioned above, people are also willing to experiment with new flavors. Combining traditional sweets like mochi, knafeh, and pistachio has become more popular among adults. It does not mean the old flavors are becoming obsolete; people are only looking for fresher, more innovative flavors.
Despite the chocolate, cookies, cream, and vanilla flavors staying on top, there is still enough space for artisan flavors and ice cream bases in the market.
Here are the flavor variations people are looking for:
- Flavors like balsamic jam, burnt coconut, and mascarpone are some of the experimental flavors people love in the current years.
- People also want customized flavors. This idea was brought to life by Magnum by introducing a custom magnum bar. Customers could choose from different chocolate coatings to toppings to make a personalized bar.
- Brands also release limited edition flavors to keep the customers interested. These flavors are based on seasonal fruits, precious ingredients, or different pop culture themes. However, these flavors are only launched for a certain time and then taken off the shelves to keep the interest alive.
The ice cream market is growing due to customers’ consistent interest in frozen desserts. It's expected to grow further in the coming years with unique flavors and serving types. With more customized flavors and home delivery options, people are more likely to indulge in ice creams than ever.