KerryDigest Fast Facts:
- The global ice cream industry is growing, with projections estimating a global CAGR of over 4% and annual sales climbing to $80 to $89b in the next five to seven years.
- Manufacturers are staying competitive through experimentation with formats and ingredients.
- Format trends are largely expressed in two ways: through the snackification of ice cream as on-the-go staple, such as with ice cream sandwiches, and through new and novel preparations, such as soft serve accompanied by French fries.
- Ice cream ingredient trends incorporate new flavours, healthier formulations—including free-from and reduced sugar varieties—and inclusions such as chocolate or waffle cone bits.
- While taste and nutrition are important to ice cream consumers, the influence of novelty, Instagrammability are more evident here than in many other categories.