The global ice cream market has experienced strong growth in recent years on account of rapid urbanization, altering food patterns, rising disposable incomes, bolstering fast food industry and the emerging trend of product premiumization and value addition.

According to the latest report by IMARC Group, the global ice cream market reached a value of US$ 57.7 Billion in 2018, growing at a CAGR of 4.5% during 2011-2018. Ice cream refers to a dessert prepared using flavorings, milk and frozen cream which are churned together to acquire a smooth consistency.

On account of rapid urbanization, changing food patterns and inflating income levels, the fast food industry is growing at a steady rate.  As ice cream is used in the preparation of several desserts and beverages such as sundaes, milkshakes, floats, cakes and other confectionary goods, its demand is increasing across the globe.