Recently released industry report by Research and Markets says that the global ice cream market is dominated by Unilever with a market share of 22 percent. Of the top selling 15 ice cream brands, eight were from Unilever. Nestle comes in the second place with four of its brands topping the best seller list. Magnum, a brand from Unilever was found to be the best-selling Ice cream in the World with global sales of over $ 2.540 bn in 2015. General Mills’ brand Haagen-Dazs comes in the next place with sales worth $ 2.086 bn. Some of the major brands that counted into the 15 best sellers list include, Cornetto, Ben & Jerry’s, Breyers, Carte d’Or, Dreyer’s/Edy’s and Blue Bunny among others.
The report says that the global ice cream market is expected to reach US$87 billion by 2021 at a 4.8 percent CAGR. Rising income, new ice cream flavors, increasing customer demand and cost-effective private labeling are attributed to be the driving factors behind the market growth. Ice creams are getting popular among people over the age of 50, which could add the growth of the Industry, the report says.
The sales of low quality ice creams were diminishing, thanks to customer preference for premium ice creams. Ice cream manufacturers have come up with lactose-free ice creams for lactose intolerant consumers. Health reasons and unseasonable weather were found to be major restraints to the market. In developed countries, many tend to refrain from Ice creams owing health reasons.