South & Central America Ice Cream Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The ice cream market in South and Central America is projected to grow significantly, reaching approximately USD 13,625.85 million by 2031, up from USD 9,255.19 million in 2023, with a compound annual growth rate (CAGR) of 5.0% during this period.

Executive Summary and Market Analysis

The growth of the ice cream market in South and Central America is primarily driven by the increasing demand from younger consumers and the expanding middle class. Factors such as changing lifestyles, urbanization, and rising disposable incomes are contributing to this trend. The accessibility and awareness of ice cream products further facilitate sales across the region.

Health consciousness among consumers is another significant driver of market growth. In response, manufacturers are incorporating health-oriented and natural ingredients into their ice cream offerings to meet consumer preferences. Ice cream is often viewed as a treat and a mood enhancer in South and Central America, leading to a high demand for varieties that include cookies, nuts, chocolates, and various toppings. Additionally, the trend of alcoholic-flavored ice cream is gaining popularity.

Prominent manufacturers in the region include NotCo, Nestle SA, and Unilever, which offer a diverse range of products, including plant-based, vegan, lactose-free, and dairy-free ice creams.

Market Segmentation Analysis

The South and Central America ice cream market can be segmented based on flavor, category, form, and distribution channel:

Flavor: The market is divided into vanilla, chocolate, berries, matcha, and others, with chocolate holding the largest market share in 2023.
Category: The market is categorized into conventional and sugar-free ice creams, with conventional ice creams dominating in 2023.
Form: Ice cream is available in cups and tubs, bars and sticks, and other forms, with cups and tubs being the most popular in 2023.
Distribution Channel: The primary distribution channels include supermarkets and hypermarkets, specialty stores, online retail, and others, with supermarkets and hypermarkets leading in market share in 2023.

Market Outlook

The rise of veganism has significantly impacted the ice cream market, as consumers increasingly prefer plant-based products, viewing them as healthier alternatives. Awareness of animal welfare and environmental sustainability is also driving this trend. The popularity of veganism is influencing innovations within the ice cream sector. For instance, in 2021, around 5.8 million individuals participated in the "Veganuary Campaign," which promotes veganism.

Brands like Ben & Jerry's and Nestle SA are actively engaging in the plant-based ice cream segment. To meet the growing demand, manufacturers are launching new vegan ice cream flavors. Notably, NotCo, a Chilean company, expanded its Noticecream line in 2020 to include additional flavors, responding to the increasing consumer interest in plant-based options.

Country Insights

The South and Central America ice cream market includes key countries such as Brazil, Argentina, and other regions. In 2023, the Rest of South and Central America held the largest market share.

Brazil is expected to experience significant growth in ice cream consumption during the forecast period. According to a report by Kerry Group plc, the average annual ice cream consumption in Brazil surpassed 5.3 liters per person as of October 2021. The demand for ice cream in Brazil is largely driven by consumers' desire for indulgent treats and mood enhancers. Popular ingredients among Brazilian consumers include chips, cookies, and granulated chocolate, with products that promote immunity and gut health also gaining traction.

Company Profiles

Key players in the ice cream market include Blue Bell Creameries, Unilever Plc, Nestle SA, General Mills Inc, Mars Inc, Wells Enterprises Inc, Turkey Hill Dairy, Dairy Farmers of America, Morinaga Milk Industry Co Ltd, Kwality Foods, LLC, Baskin-Robbins, David Chapman's Ice Cream Limited, Cold Stone Creamery, Lotus Bakeries NV, and IMURAYA GROUP CO., LTD. These companies are pursuing various strategies, including expansion, product innovation, and mergers and acquisitions, to enhance their market presence and offer innovative products to consumers.

Product Code: BMIRE00027004

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. South & Central America Ice Cream Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Competitive Rivalry
- 4.2.4 Threat of Substitutes
- 4.2.5 Threat of New Entrants
4.3 Ecosystem Analysis
- 4.3.1 Raw Materials:
- 4.3.2 Manufacturing Process:
- 4.3.3 Distributors
- 4.3.4 Distribution Channel

5. South & Central America Ice Cream Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Popularity of Ice Cream Among All Age Groups
- 5.1.2 Availability of Innovative Flavors
5.2 Market Restraints
- 5.2.1 Health Concerns Associated with Ice Cream
5.3 Market Opportunities
- 5.3.1 Rising Popularity of Functional Ice Cream
5.4 Future Trends
- 5.4.1 Increasing Demand for Dairy-Free and Vegan Ice Cream
5.5 Impact of Drivers and Restraints:

6. Ice Cream Market - South & Central America Analysis

6.1 South & Central America Ice Cream Market Revenue (US$ Million), 2021-2031
6.2 South & Central America Ice Cream Market Forecast Analysis

7. South & Central America Ice Cream Market Analysis - by Flavor

7.1 Vanilla
- 7.1.1 Overview
- 7.1.2 Vanilla: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Chocolate
- 7.2.1 Overview
- 7.2.2 Chocolate: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.3 Berries
- 7.3.1 Overview
- 7.3.2 Berries: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.4 Matcha
- 7.4.1 Overview
- 7.4.2 Matcha: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. South & Central America Ice Cream Market Analysis - by Category

8.1 Conventional
- 8.1.1 Overview
- 8.1.2 Conventional: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Sugar Free
- 8.2.1 Overview
- 8.2.2 Sugar Free: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. South & Central America Ice Cream Market Analysis - by Form

9.1 Cups and Tubs
- 9.1.1 Overview
- 9.1.2 Cups and Tubs: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.2 Bars and Sticks
- 9.2.1 Overview
- 9.2.2 Bars and Sticks: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.3 Others
- 9.3.1 Overview
- 9.3.2 Others: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)

10. South & Central America Ice Cream Market Analysis - by Distribution Channel

10.1 Supermarkets and Hypermarkets
- 10.1.1 Overview
- 10.1.2 Supermarkets and Hypermarkets: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.2 Specialty Stores
- 10.2.1 Overview
- 10.2.2 Specialty Stores: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.3 Online Retail
- 10.3.1 Overview
- 10.3.2 Online Retail: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.4 Others
- 10.4.1 Overview
- 10.4.2 Others: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)

11. South & Central America Ice Cream Market - Country Analysis

11.1 South & Central America
- 11.1.1 South & Central America Ice Cream Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.1 South & Central America Ice Cream Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 Brazil: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.2.1 Brazil: South & Central America Ice Cream Market Share - by Flavor
    - 11.1.1.2.2 Brazil: South & Central America Ice Cream Market Share - by Category
    - 11.1.1.2.3 Brazil: South & Central America Ice Cream Market Share - by Form
    - 11.1.1.2.4 Brazil: South & Central America Ice Cream Market Share - by Distribution Channel
  - 11.1.1.3 Argentina: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.3.1 Argentina: South & Central America Ice Cream Market Share - by Flavor
    - 11.1.1.3.2 Argentina: South & Central America Ice Cream Market Share - by Category
    - 11.1.1.3.3 Argentina: South & Central America Ice Cream Market Share - by Form
    - 11.1.1.3.4 Argentina: South & Central America Ice Cream Market Share - by Distribution Channel
  - 11.1.1.4 Rest of South & Central America: South & Central America Ice Cream Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.1.4.1 Rest of South & Central America: South & Central America Ice Cream Market Share - by Flavor
    - 11.1.1.4.2 Rest of South & Central America: South & Central America Ice Cream Market Share - by Category
    - 11.1.1.4.3 Rest of South & Central America: South & Central America Ice Cream Market Share - by Form
    - 11.1.1.4.4 Rest of South & Central America: South & Central America Ice Cream Market Share - by Distribution Channel

12. Competitive Landscape

12.1 Company Positioning & Concentration
12.2 Heat Map Analysis

13. Industry Landscape

13.1 Overview
13.2 Agreements, Collaborations, And Joint Ventures
13.3 Product Launch
13.4 Expansions And Other Strategic Developments

14. Company Profiles

14.1 Blue Bell Creameries
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 Unilever Plc
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Nestle SA
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 General Mills Inc
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Mars Inc
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Wells Enterprises Inc
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Turkey Hill Dairy
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 Dairy Farmers of America, Inc.
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 Cold Stone Creamery
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments
14.10 Morinaga Milk Industry Co Ltd
- 14.10.1 Key Facts
- 14.10.2 Business Description
- 14.10.3 Products and Services
- 14.10.4 Financial Overview
- 14.10.5 SWOT Analysis
- 14.10.6 Key Developments
14.11 Kwality Foods, LLC.
- 14.11.1 Key Facts
- 14.11.2 Business Description
- 14.11.3 Products and Services
- 14.11.4 Financial Overview
- 14.11.5 SWOT Analysis
- 14.11.6 Key Developments
14.12 Baskin-Robbins
- 14.12.1 Key Facts
- 14.12.2 Business Description
- 14.12.3 Products and Services
- 14.12.4 Financial Overview
- 14.12.5 SWOT Analysis
- 14.12.6 Key Developments
14.13 David Chapman's Ice Cream Limited
- 14.13.1 Key Facts
- 14.13.2 Business Description
- 14.13.3 Products and Services
- 14.13.4 Financial Overview
- 14.13.5 SWOT Analysis
- 14.13.6 Key Developments
14.14 Lotus Bakeries NV
- 14.14.1 Key Facts
- 14.14.2 Business Description
- 14.14.3 Products and Services
- 14.14.4 Financial Overview
- 14.14.5 SWOT Analysis
- 14.14.6 Key Developments
14.15 IMURAYA GROUP CO., LTD
- 14.15.1 Key Facts
- 14.15.2 Business Description
- 14.15.3 Products and Services
- 14.15.4 Financial Overview
- 14.15.5 SWOT Analysis
- 14.15.6 Key Developments

15. Appendix

15.1 About The Insight Partners