The Global Ice Cream Market to Grow at a CAGR of 3.5% During 2020-23

A global survey has highlighted that the worldwide ice cream market is expected to witness a growth at a CAGR of 3.5% during the phase, 2020-23. A data revealed by Statista has found that revenue of this industry in the year 2020 is expected to stand around US$71,913 million. In addition to this, it is noted that the US will register the highest revenue of US$10,302 million in 2020.

Many business experts working in the ice cream industry has highlighted that the major reason for the expected growth is the availability of a variety of flavors of different ice-creams. Not just in Summer but people also love to consume ice-cream in other seasons. And a lot of health-conscious people only prefer to eat low-calorie and low-fat ice cream. Due to the availability of healthy ice-creams, this industry is getting a big boost in its revenue.

It is found in the survey that different retail channels have been contributing to an increase in the sales of ice-creams by building a strong brand image of different ice-cream products. The survey has highlighted a lot of ice-cream businesses are working hard to increase their online presence by making use of the ice cream pro directory website.

It is also a good reason for the high popularity and expansion of ice-cream businesses. And all this is leading to an increase in the overall revenue in the ice-cream industry. According to the survey, per-person revenue is expected to stand at US$9.66 in 2020.

Many experts have added that the availability of lactose-free ice cream and the rising demand for a new variety of ice-cream flavors are the two other reasons leading to a hike in the growth of the global ice-cream industry. Moreover, the use of technology for marketing is also leading to rising demand for different types of ice-creams at a global level.

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