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2024 State of the Dairy Industry: Ice Cream

Partly Sunny Forecast: Ice cream and sherbet continue to shine, with frozen novelties and desserts seeing cloudier skies.

November 13, 2024

Last year in this feature, we stated ice cream and frozen novelties would have a difficult time matching a “Super Bowl champion”-level performance put forth by the Kansas City Chiefs’ Patrick Mahomes, which occurred for ice cream during the COVID-19 pandemic when consumers sought a home indulgence. This year, we can say the same thing. Mahomes won another Super Bowl in February, with the Chiefs currently seeking a “three-peat.”

However, getting back to this year’s theme, the ice cream/frozen novelties category continues to see partly sunny skies.

Overall, ice cream/sherbet sales rose by 3% year over (YoY) to $8.6 billion for the 52 weeks ending Aug. 11, according to Chicago-based market research firm Circana. Unit sales picked up 0.5% YoY to 1.84 billion.

Frozen novelty sales ticked slightly higher by 1% YoY to $8.74 billion, while unit sales for the period ending Aug. 11 declined by a small 0.2% to 1.86 billion.