Ice cream market seen reaching $152.96B by 2031

Mordor Intelligence says the global ice cream market is set to rise from $125.42 billion in 2026 to $152.96 billion by 2031, driven by premium products, plant-based options and quick-commerce. North America leads the market today, while Asia-Pacific is expected to post the fastest growth through 2031.

Why it matters: - The ice cream category is shifting from pure volume growth to higher-margin premium sales. - Demand is expanding for products that blend indulgence with health, including high-protein and reduced-sugar ice cream. - The market’s growth outlook suggests more room for brands that can win on flavor, nutrition, sustainability and fast delivery.

What happened: - Mordor Intelligence projected the global ice cream market will grow from $125.42 billion in 2026 to $152.96 billion by 2031. - The firm pegged the market’s compound annual growth rate at 4.05% for 2026-2031. - North America held the largest regional share in 2025 at 30.87%. - The report said the dairy segment accounted for 81.23% of revenue in 2025.

The details: - Standard ice cream still makes up most global sales, but artisanal, premium and functional products are gaining share. - Manufacturers are launching high-protein, reduced-sugar and GLP-1-friendly formulations to match changing health preferences. - Flavor innovation, including seasonal and limited-edition products, is helping brands drive repeat purchases. - Plant-based ice cream has moved from niche to mainstream as oat, almond, coconut and other dairy-free recipes improve in taste and texture. - Quick-commerce platforms are boosting impulse purchases and making frozen products easier to buy in urban areas. - Clean-label ingredients, recyclable packaging and sustainable dairy sourcing are increasingly important to consumers and retailers. - The report listed the main segments as standard ice cream, novelties, soft serve and specialty/artisanal ice cream. - The report also split the market by dairy and non-dairy categories, packaging types including pints, tubs/cups, cones, sticks and other formats, and distribution through on-trade and off-trade channels. - North America’s market strength is tied to high per-capita consumption, premium product demand and established retail and foodservice networks. - Asia-Pacific is projected to be the fastest-growing region through 2031, supported by rising incomes, urbanization, organized retail expansion and digital grocery adoption. - Europe remains a key market for premium and artisanal ice cream, while South America, the Middle East and Africa offer longer-term growth potential. - The report identified Nestlé, General Mills, Blue Bell Creameries, Wells Enterprises and Lotte Corporation among the key companies in the market. - The full report is available in multiple languages, including Japanese, French, German, Spanish and Portuguese.

Between the lines: - The report points to a category that is no longer competing only on price and volume. - Premiumization and functional ingredients are becoming a defense against commoditization. - Quick-commerce is emerging as a meaningful sales lever because ice cream is highly impulse-driven. - Sustainability and clean-label claims are now part of the competitive baseline, not just a differentiator.

What's next: - Brands are likely to keep expanding premium, high-protein and reduced-sugar lines. - More investment should flow into plant-based formulations, digital retail channels and packaging that supports sustainability goals. - Competition is expected to intensify around rapid fulfillment, exclusive launches and personalized promotions.

The bottom line: - Ice cream remains a growth market, but the winners are likely to be the companies that combine indulgence, health and convenience better than rivals.