The global ice cream packaging market is on a strong growth path, projected to rise from USD 853.74 million in 2023 to USD 1,263.74 million by 2033. This represents a compound annual growth rate (CAGR) of 4.0% over the forecast period. By the end of 2023, the top three countries are expected to account for 30% to 35% of the global market share.
Key Trends in Ice Cream Packaging
Annual Growth Rate: The ice cream packaging market is anticipated to grow at a CAGR of 4% through 2033.
Market Value by 2033: The global market is forecasted to reach USD 1,263.74 million by 2033.
Historical Growth: Between 2018 and 2022, the market saw a growth rate of 3.7% per year.
U.S. Market Impact: The U.S. is expected to generate an incremental opportunity of USD 47.4 million by 2033.
Growth in New Zealand: New Zealand is projected to experience a 3.5% CAGR through 2033, making a notable contribution to the market’s growth.
Market Dynamics and Drivers
Packaging Types: The cup segment is expected to lead the market during the forecast period. Future Market Insights (FMI) projects this segment to grow at a CAGR of 4.5% from 2023 to 2033.
Rising Ice Cream Consumption: Increasing ice cream consumption and the introduction of various flavors are driving demand for innovative packaging solutions. The ice cream packaging market is predicted to expand to 1.5 times its current value from 2023 to 2033.
Trends Boosting Market Growth
Demand for Nutritional Ice Creams
Consumers are seeking unique, high-quality ice cream flavors and are willing to pay a premium for innovative ingredients. This trend is leading manufacturers to launch new premium brands, meeting the growing demand for sophisticated ice cream packaging. Health-conscious individuals, including athletes, are particularly interested in low-sugar, high-protein ice creams, which is positively impacting the global packaging market.
QR Codes in Packaging
Manufacturers are integrating new technologies into ice cream packaging. Digital innovations, such as QR codes on packaging, are enhancing consumer experience by providing product information and strengthening brand loyalty. This technology also ensures that products remain intact throughout the supply chain.
Recent Developments in the Ice Cream Industry
In May 2022, Amul, a dairy brand known for its unique flavors, launched “Isabcool” ice cream. This flavor, created to support the Gujarat Titans IPL team, includes cashew, figs, and Isabgol, a common laxative in India. Such novel product launches by major ice cream brands are expected to drive further growth in the ice cream packaging market.
Growing Demand for Sustainable Packaging
Consumers increasingly prefer packaging that is not only visually appealing but also environmentally friendly. The desire for packaging that maintains product freshness while reflecting brand values is driving the shift towards sustainable packaging solutions. This trend is expected to significantly boost the global ice cream packaging market.
