Latin America Ice Cream Market Outlook
According to the report by Expert Market Research (EMR), the Latin America ice cream market size is projected to further grow at a CAGR of 2.80% between 2024 and 2032. Aided by the growing preference for indulgent desserts and innovative product launches, the market is expected to grow signficantly by 2032.
Ice cream is a popular frozen dessert made from dairy ingredients, sweeteners, and flavourings. Its delightful taste, cooling effect, and wide range of flavours have made it a staple treat among consumers of all ages. In addition to traditional ice creams made with milk, innovative products like dairy-free, low-fat, and sugar-free variants cater to health-conscious consumers.
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The expanding middle class and rapid urbanisation across Latin America have led to a growing demand for premium food products, including ice cream. Consumers are increasingly seeking out gourmet flavours, artisanal brands, and healthier options. Additionally, the proliferation of supermarkets, hypermarkets, and convenience stores has made it easier for consumers to access a broader range of ice cream products. This, coupled with aggressive promotional campaigns, has bolstered sales, leading to Latin America ice cream market growth.
While traditional ice cream remains popular, there’s a burgeoning market for healthier alternatives such as low-calorie, low-sugar, and dairy-free varieties. Manufacturers are increasingly leveraging plant-based ingredients and sugar substitutes to appeal to health-conscious consumers.
The market has also witnessed an influx of new flavours that resonate with local tastes, including tropical fruits, exotic spices, and traditional desserts. Attractive and eco-friendly packaging further enhances the appeal.
The rise of online grocery platforms and food delivery apps has enabled manufacturers to reach consumers directly. This trend was particularly accelerated during the COVID-19 pandemic and has continued to shape purchasing habits, leading to Latin America ice cream market expansion.
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Supermarkets and hypermarkets provide a wide range of products in one place, often with discounts and lower prices. Similarly, convenience stores make it easier to access a variety of food and beverage products. The presence and expansion of these chains and stores in the region contribute to the increased sales of ice creams. For example, in March 2023, Femsa announced its plan to open 1000 Oxxo stores in Chile, Mexico, Colombia, and Brazil. Furthermore, they are also introducing affordable and indulgent ice creams, which are expected to contribute to the growth of the Latin America ice cream market.
Impulse ice creams are individual-sized and convenient for immediate consumption, making them a popular choice for people on-the-go. These ice creams are particularly favoured by children, especially during the summer months. To take advantage of their popularity, major manufacturers are expanding their product lines and creating impulse ice creams with a variety of textures and flavours. With advancements in technology and improvements in production processes, the manufacturing of impulse ice cream is expected to see significant growth in Latin America and consequently driving up the Latin America ice cream market share.
The demand for take-home ice creams is being fuelled by the increasing consumption of ice creams as desserts. Consumers also prefer take-home ice creams as a way to indulge in a treat amidst their busy and stressful lifestyles. These ice creams come in a variety of formats, which is further driving their popularity. Furthermore, there is a growing trend among manufacturers to offer Mexican artisan ice creams made from fresh fruits, as well as unique flavours like pistachio, coffee, mango, and lime, among other frozen treats.
As per the Latin America ice cream market analysis, Latin America is home to some of the most renowned ice cream parlours worldwide, including Coppelia Ice Cream Parlor, El Taller, and Heladeria Cadore, among others. These establishments offer authentic and premium ice creams compared to mass-produced ones, making them increasingly popular among both locals and tourists.
Market Segmentation
The market can be divided based on the flavour, category, product type, distribution channels, and region.
Market Breakup by Flavour
- Chocolate
- Fruit
- Vanilla
- Others
Market Breakup by Category
- Impulse Ice Cream
- Take-Home Ice Cream
- Artisanal Ice Cream
Market Breakup by Product Type
- Cup
- Stick
- Cone
- Brick
- Tub
- Others
Market Breakup by Distribution Channels
- Supermarkets and Hypermarkets
- Convenience Store
- Ice Cream Parlours
- Online Stores
- Others
Market Breakup by Region
- Brazil
- Argentina
- Mexico
- Chile
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in Latin America ice cream market. Some of the major players explored in the report by Expert Market Research are as follows:
- Sorvetes Jundiá Indústria e Comércio Ltda.
- Arcor Sociedad Anonima Industrial Y Comercial
- Unilever plc
- Froneri Lux Topco S.à r.l.
- Others
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