The global ice cream packaging market size is set to reach a valuation of US$ 853.74 million in 2023 and expand at a CAGR of 4.0% from 2023 to 2033. The ice cream packaging market is likely to reach US$ 1263.74 million by the end of 2033. The top 3 countries are projected to hold 30 to 35% of the global market share by the end of 2023.
The cup segment by packaging type is estimated to remain at the forefront during the forecast period. As per FMI, this segment is expected to register a CAGR of 4.5% from 2023 to 2033.
Increasing consumption of ice creams in various regions and the launch of numerous varieties of ice creams are projected to bolster the demand for innovative ice cream packaging. The ice cream packaging industry is anticipated to expand 1.5 times the current market value from 2023 to 2033.
In May 2022, Dairy brand Amul, known for experimenting with Indian ingredients and flavors, came out with an exciting taste of ice cream called Isabcool. The new flavor is to back Gujarat Titans, Gujarat’s Indian Premier League (IPL) team, and its Captain Isabcool.
The ice cream contains cashew, figs, and Isabgol. Isabgol is a common laxative that is used in Indian households. Similar new product launches by ice cream and dairy product giants are likely to push the global ice cream packaging market.
Surging Sweet Tooth: The Top 2 Trends Fueling Packaging Demand in the Ice Cream Industry
Consumers are preferring unique and high-quality ice cream flavours. They are willing to pay more for ice cream ingredients that they consider to be innovative. Hence, ice cream manufacturers are launching various premium brands to cater to the growing ice cream packaging demand worldwide.
Future Market Insights says, Athletes and health-conscious consumers looking for ice creams with more nutritional value have been particularly fond of low-sugar, high-protein varieties. This propels the demand for a wide range of ice creams, positively affecting the global ice cream packaging market during the evaluation period.
Company offers ecologically friendly packaging to all of its clients, which is made possible by its lightweight design, logistical efficiency, and recyclability.
In February 2022, ITC Packaging strengthened its sustainability policy by introducing new action plans. It attained two certifications, namely, ISO: 14001 and ISCC Plus.
With the help of these certifications, the company can offer various sustainable solutions. It has made multiple investments to increase the energy efficiency of its equipment through the progressive adoption of totally electric-powered machinery. One such investment is a photovoltaic system that may soon be made to produce clean, renewable energy.
Sonoco Products Company aims to enhance packaging beyond the simple box. It wants to provide integrated packaging solutions to improve global product quality and people’s quality of life by developing brand personalities and generating distinctive consumer experiences.
In May 2022, the company announced that it was pre-qualified with EnviroFlex and How2Recycle. With the help of this strategy, Sanoco advanced with sustainable, flexible packaging options. Further, the company understands the importance of creating eco-friendly packaging options to safeguard the environment for coming generations.
These insights are based on a report Ice Cream Packaging Market by Future Market Insights.