세계의 아이스크림 시장 규모 : 유형별, 체인별, 유통 채널별, 지역 범위별 및 예측

Ice Cream Market Size And Forecast

Ice Cream Market size was valued at USD 90.46 Billion in 2024 and is projected to reach USD 127.76 Billion by 2032, growing at a CAGR of 4.41% from 2026 to 2032.

The Ice Cream Market is a comprehensive industry that includes all stages of producing, distributing, and selling frozen desserts. This market is not limited to traditional dairy based ice cream but has expanded to include a wide array of products, such as frozen yogurt, non dairy alternatives made from plant based milks like almond or oat, and other frozen confections. The market is highly dynamic, with various factors influencing its growth and segmentation.

The market is often segmented to better understand consumer behavior and industry trends. These segments include:

By Product Type: This differentiates between impulse ice creams (single servings like cones and bars), take home ice cream (larger tubs and cartons for family consumption), and artisanal ice cream (small batch, premium products with unique flavors).

By Flavor: While classic flavors like vanilla and chocolate remain popular staples, a growing segment is driven by a demand for innovative, exotic, and seasonal flavors.

By Distribution Channel: Products are sold through multiple avenues, from large scale supermarkets and hypermarkets to smaller convenience stores, specialized ice cream parlors, and online retail platforms.

Several key factors are currently shaping the Ice Cream Market. Rising disposable incomes, particularly in developing countries, are allowing consumers to spend more on premium and indulgent products. There is also a significant shift in consumer preferences toward healthier options, which has fueled the demand for low sugar, low fat, and fortified ice creams, as well as the rapidly growing non dairy and vegan segments. Innovation in products, flavors, and sustainable packaging is a crucial driver for companies to attract and retain customers in this highly competitive market.

Global Ice Cream Market Drivers

The global ice cream market is a vibrant and continually expanding industry, churned by a confluence of evolving consumer desires, strategic retail advancements, and burgeoning economic trends. Far from being a mere seasonal treat, ice cream has cemented its place as a year round indulgence, with market players constantly innovating to capture consumer attention. Understanding the primary drivers behind this growth is crucial for businesses looking to carve out their own scoop of success.

Rising Consumer Demand for Indulgent and Innovative Dessert Options: The modern consumer's palate is increasingly sophisticated, yearning for more than just traditional flavors. This surge in demand for indulgent and innovative dessert options is a significant catalyst for the ice cream market. Consumers are actively seeking novel taste experiences, pushing manufacturers to experiment with unique flavor profiles, intriguing textures, and premium ingredients. From gourmet inclusions like artisanal fudge and exotic fruit purees to unexpected savory notes and globally inspired combinations, innovation is key. This trend also extends to functional benefits, with a growing interest in ice creams incorporating probiotics, superfoods, or protein, transforming a simple treat into a perceived wellness indulgence. Brands that successfully tap into this desire for both sensory delight and imaginative novelty are well positioned for sustained growth.

Expansion of Retail Channels, Including Supermarkets, Convenience Stores, and E commerce Platforms: The accessibility of ice cream to consumers has never been greater, largely due to the expansion of diverse retail channels. Supermarkets and hypermarkets remain foundational, offering a vast array of brands and product formats, from economical family sized tubs to gourmet single serve options. Convenience stores play a critical role in impulse purchases, strategically located to cater to on the go consumption. However, the most transformative shift has been the rise of e commerce platforms and quick delivery services. Online grocery shopping, coupled with dedicated dessert delivery apps, has made it possible for consumers to receive their favorite ice cream directly to their doorstep, often within minutes. This multi channel approach ensures that ice cream is readily available wherever and whenever a craving strikes, significantly boosting sales volumes and market penetration.

Growing Popularity of Premium, Artisanal, and Exotic Flavored Ice Creams: A discernible shift towards quality over quantity is evident in the growing popularity of premium, artisanal, and exotic flavored ice creams. Consumers are increasingly willing to pay a higher price point for products perceived as superior in terms of ingredients, craftsmanship, and unique flavor combinations. This segment is characterized by small batch production, the use of locally sourced or organic ingredients, and adventurous flavor profiles that often draw inspiration from international cuisines or gourmet dessert trends. Think lavender honey, black sesame, or chili chocolate - flavors that elevate the ice cream experience beyond the ordinary. The appeal lies not just in the taste but also in the story behind the brand and the perceived exclusivity of the product, attracting discerning consumers looking for an elevated treat.

Increasing Disposable Income and Urbanization Driving Consumption in Emerging Markets: Economic development and demographic shifts are powerful forces fueling the ice cream market, particularly in developing regions. Increasing disposable income and rapid urbanization in emerging markets are leading to a significant surge in consumption. As more people move to cities and their financial capacity grows, so does their access to and demand for discretionary items like ice cream. Urban environments offer a greater concentration of retail outlets, including supermarkets, convenience stores, and specialized parlors, making ice cream more accessible. Furthermore, Westernization of dietary habits and the aspirational appeal of global brands contribute to the rising popularity of ice cream as an accessible luxury, driving substantial market expansion in these regions.

Seasonal Demand Peaks and Cultural Association of Ice Cream with Celebrations: While often considered a year round indulgence, the ice cream market still experiences pronounced seasonal demand peaks, primarily during warmer months. This natural seasonality is a consistent driver, as consumers gravitate towards cooling and refreshing treats during spring and summer. Beyond weather, the cultural association of ice cream with celebrations, holidays, and social gatherings further bolsters its market presence. From birthday parties and festive occasions to casual family get togethers, ice cream serves as a quintessential dessert that evokes joy and comfort. Marketing strategies often capitalize on these associations, positioning ice cream not just as a food item, but as an integral part of memorable experiences and cherished traditions, reinforcing its emotional value to consumers.

Global Ice Cream Market Restraints

While the ice cream market enjoys robust growth fueled by innovation and indulgence, it is not without its significant hurdles. Several inherent challenges and evolving consumer landscapes act as restraints, potentially slowing down expansion or increasing operational complexities for manufacturers and retailers. Acknowledging and strategically addressing these limitations is vital for sustained success in this competitive industry.

High Sugar and Fat Content Raising Health Concerns Among Consumers: One of the most significant headwinds for the traditional ice cream market is the high sugar and fat content inherent in many products, which is increasingly raising health concerns among consumers. With a global trend towards healthier eating and increased awareness of diet related illnesses like obesity and diabetes, consumers are scrutinizing nutritional labels more closely. This has led to a growing demand for "better for you" alternatives, including low sugar, low fat, and sugar free ice creams, as well as plant based options. While manufacturers are responding with innovative formulations, the perception of traditional ice cream as an unhealthy indulgence remains a core restraint, compelling brands to invest heavily in product reformulation and transparent labeling to align with evolving public health priorities.

Seasonal Demand Fluctuations Leading to Inconsistent Sales Throughout the Year: The beloved status of ice cream as a warm weather treat means that seasonal demand fluctuations are a persistent and inherent restraint, leading to inconsistent sales throughout the year. While sales soar during spring and summer months in many regions, the colder seasons typically see a significant dip in consumption. This seasonality complicates production planning, inventory management, and marketing strategies for ice cream manufacturers. Companies must often scale up operations rapidly for peak seasons and then manage excess capacity or find alternative product lines during off peak times. While efforts are made to promote ice cream as a year round dessert, particularly with winter themed flavors or holiday tie ins, overcoming the fundamental seasonal nature of the product remains a significant challenge for maintaining consistent revenue streams.

Rising Competition from Healthier Dessert Alternatives Such as Frozen Yogurt and Smoothies: The ice cream market faces intense rising competition from healthier dessert alternatives that cater to health conscious consumers. Products like frozen yogurt, smoothies, sorbets, and fruit based desserts offer appealing options that often boast lower calorie counts, reduced fat, and natural ingredients. Frozen yogurt, in particular, has carved out a substantial niche, perceived as a lighter and more customizable treat. Smoothies, packed with fruits and often vegetables, are positioned as nutritious meal replacements or energizing snacks, directly competing for the same consumer spend on sweet treats. This competitive pressure forces ice cream manufacturers to continuously innovate, differentiate their offerings, and emphasize unique selling propositions, whether through premium ingredients, indulgent experiences, or by developing their own healthier product lines to prevent market share erosion.

High Storage and Transportation Costs Due to Cold Chain Requirements: Maintaining the integrity and quality of ice cream from production to point of sale necessitates a stringent cold chain, which translates directly into high storage and transportation costs. Ice cream must be kept at consistently low temperatures (typically below 18°C or 0°F) to prevent thawing, recrystallization, and spoilage. This requires specialized freezer storage facilities at every stage, from manufacturing plants and distribution centers to retail freezers. Furthermore, refrigerated trucks and strict temperature monitoring systems are essential for transportation. These specialized logistical requirements are significantly more expensive than those for ambient or chilled products, adding substantial overheads to the supply chain and ultimately impacting profit margins, especially for businesses operating on a global scale.

Short Shelf Life and Risk of Spoilage Impacting Distribution Efficiency: Compared to many other packaged foods, ice cream generally has a relatively short shelf life, especially once opened, and a high risk of spoilage if not stored correctly, which significantly impacts distribution efficiency. While unopened, properly stored ice cream can last for several months, any break in the cold chain or prolonged exposure to fluctuating temperatures can quickly degrade its quality, leading to freezer burn, altered texture, or even bacterial growth. This fragility requires precise inventory management to minimize waste and ensure products reach consumers in optimal condition. For distributors and retailers, managing stock rotation and preventing spoilage adds complexity and cost, as expired or damaged products lead to financial losses and potential reputational damage, posing a constant challenge to the seamless flow of products through the supply chain.

Global Ice Cream Market Segmentation Analysis

The Global Ice Cream Market is segmented on the basis of Type, Chain, Distribution Channel and Geography.

Ice Cream Market, By Type

Bars

Buckets/ Tubs

Floats

Based on Type, the Ice Cream Market is segmented into Bars, Buckets/ Tubs, Floats. At VMR, we observe that the Buckets/ Tubs subsegment is the most dominant, holding the largest market share. This dominance is primarily driven by the strong consumer trend of at home consumption, which was significantly accelerated by the global pandemic and has since solidified as a key market driver. The format of buckets and tubs is highly efficient for family and multi person servings, making it a cost effective and convenient option for consumers hosting gatherings or simply seeking an indulgent treat for multiple occasions. In terms of regional factors, this subsegment sees robust demand in North America and Europe, where households have higher disposable incomes and established cultural habits of stocking freezers with take home desserts. Furthermore, the growth of e commerce and quick grocery delivery services has made it easier than ever for consumers to purchase large format ice cream, directly contributing to this segment's success.

The Bars subsegment holds the position of the second most dominant, distinguished by its role in the impulse and on the go consumption market. The key growth drivers for this segment are its convenience, portability, and wide availability in various retail channels, including convenience stores, vending machines, and gas stations. Data backed insights show that the Asia Pacific region, particularly in urban areas, is a strong growth engine for ice cream bars, driven by rapid urbanization and the fast paced lifestyles of millennials and Gen Z. Finally, the Floats subsegment plays a smaller, more supporting role in the overall market. While it caters to a niche consumer base, its growth is often tied to the foodservice industry, particularly in restaurants and quick service parlors where it is served as a classic, nostalgic dessert. While not a primary revenue driver, this segment holds potential for innovation and niche market expansion through the creation of new and exotic flavor combinations, appealing to a segment of the market that values a unique, experiential dessert.

Ice Cream Market, By Chain

Lactose Free

Low Fat

Low Calorie

Based on Chain, the Ice Cream Market is segmented into Lactose Free, Low Fat, Low Calorie. At VMR, we observe that the Lactose Free subsegment is currently the most dominant and is exhibiting remarkable growth. Its dominance is driven by a global surge in lactose intolerance awareness and the rising popularity of plant based and vegan diets, especially among millennials and Gen Z. This subsegment has benefited from significant innovation in food technology, allowing manufacturers to create products using alternative milk sources like almond, oat, soy, and coconut, which closely mimic the taste and texture of traditional dairy ice cream without the associated digestive discomfort. Data shows that the global lactose free market is projected to grow with a robust CAGR, with North America and Europe leading in consumer adoption due to high health consciousness and established distribution networks.

The Low Calorie subsegment is the second most dominant, propelled by a widespread desire for "guilt free indulgence" and the increasing prevalence of obesity and related health concerns. This segment's growth is fueled by advancements in alternative sweeteners like stevia and erythritol, which enable brands to drastically reduce calorie counts while maintaining flavor. It has a strong consumer base in developed regions like North America, where brands like Halo Top and Arctic Zero have become household names, successfully marketing to dieters and fitness enthusiasts. The Low Fat subsegment, while still a part of the market, now plays a supporting role. Its growth is more moderate, as consumer focus has shifted from simply reducing fat to a more holistic approach that also considers sugar and calorie content. This segment caters to a more traditional dieter and is gradually being overshadowed by the more innovative, multi benefit offerings in the low calorie and lactose free categories.

Ice Cream Market, By Distribution Channel

Store Based

Non Store Based

Based on Distribution Channel, the Ice Cream Market is segmented into Store Based, Non Store Based. At VMR, we observe that the Store Based subsegment is the most dominant, commanding the vast majority of the global market share, and is poised for continued growth. This dominance is fundamentally rooted in consumer purchasing habits, as supermarkets, hypermarkets, and convenience stores offer the widest array of options and are the primary destinations for take home ice cream consumption. The segment's strength is particularly evident in North America and Europe, where highly developed retail infrastructures and widespread access to refrigerated display cases ensure product availability. The consistent growth is also driven by industry trends such as the expansion of organized retail in emerging markets, as well as the strategic placement of impulse buy products like cones and bars at checkout counters to drive sales. The

Non Store Based subsegment, while smaller, is the second most dominant and is growing at a faster rate, buoyed by the rapid digitalization of consumer behavior. Its primary growth drivers are the proliferation of e commerce platforms and quick commerce services, which have fundamentally changed how consumers access food. This segment is especially strong in urban areas across Asia Pacific and is characterized by the rise of specialized ice cream parlors, direct to consumer (DTC) brands, and mobile vendors that capitalize on the convenience and novelty of on demand delivery. Data from recent years indicates that online retail has shown a significant surge in revenue contribution, especially post pandemic, as consumers became accustomed to home delivery for a wide range of goods, including frozen desserts. The remaining subsegments, such as vending machines and institutional sales (e.g., schools, hospitals), play a more niche and supplementary role, contributing to the overall market but not as primary drivers.

Ice Cream Market, By Geography

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

The global ice cream market exhibits a diverse and dynamic landscape, with regional markets influenced by unique cultural preferences, economic conditions, and consumer trends. While key drivers like a rising demand for premium and healthier options are universal, their manifestation and impact vary significantly across different continents. Understanding these geographical nuances is crucial for companies aiming to create targeted strategies and capitalize on regional growth opportunities.

United States Ice Cream Market

The United States is one of the most mature and significant markets for ice cream globally. The market is primarily driven by a strong consumer demand for premium and artisanal products, with a growing willingness to pay for high quality ingredients and unique flavor combinations. A notable trend is the rapid expansion of the non dairy and plant based segment, catering to an increasing number of lactose intolerant consumers and those following vegan lifestyles. Additionally, health and wellness trends are pushing for low calorie, low sugar, and functional ice creams, leading to a rise in products with added protein or fiber. The market is heavily reliant on take home consumption, with a large portion of sales coming from half gallon and multi serve containers purchased at grocery stores. The proliferation of e commerce and quick delivery services has also transformed the distribution landscape, making ice cream more accessible than ever before.

Europe Ice Cream Market

The European ice cream market is characterized by a strong tradition of ice cream consumption, especially during the summer. A key trend is premiumization, with consumers in countries like Italy, Germany, and France showing a strong preference for high end, artisan, and craft ice creams like gelato and sorbet. This segment is projected to grow significantly. The region is also at the forefront of the health and wellness trend, with a notable shift towards low calorie, low sugar, and vegan ice cream options, particularly in Northern Europe. Innovation in flavors, textures, and sustainable packaging is a crucial driver, with manufacturers constantly introducing new and limited edition products to keep consumers engaged. While seasonal demand is a prominent factor, the market is resilient, with off trade (retail) channels dominating sales, supported by robust supermarket and convenience store networks.

Asia Pacific Ice Cream Market

The Asia Pacific region is the fastest growing ice cream market globally, fueled by rapid urbanization, rising disposable incomes, and a large youth population. The market is driven by a blend of both global and local trends. While traditional dairy ice cream remains popular, there is an increasing demand for premium and artisanal products, particularly in developed markets like Japan and Australia. However, the most dynamic trend is the adoption of impulse ice cream, with single serve bars, cones, and cups dominating sales due to their convenience and affordability. This is especially true in rapidly growing economies like India and China. The region is also witnessing a surge in demand for exotic and locally inspired flavors, such as matcha, red bean, and unique fruit combinations, reflecting a fusion of global and regional palates. The expansion of cold chain logistics and modern retail formats is critical for market growth in this region.

Latin America Ice Cream Market

The Latin American ice cream market is experiencing steady growth, driven by a cultural affinity for frozen treats, increasing urbanization, and a growing middle class. The market is propelled by a desire for both indulgence and innovation. Consumers are increasingly seeking premium, high quality products with unique flavors and textures. This trend, combined with a rising health consciousness, is also spurring the growth of healthier options, including low fat, lactose free, and plant based alternatives. The market is a mix of traditional ice cream parlors and modern retail channels. Brazil, with its large population and warm climate, is the dominant market in the region, showcasing strong consumption rates. The rise of e commerce platforms and at home delivery services is also contributing to market expansion, offering new avenues for consumers to access their favorite frozen desserts.

Middle East & Africa Ice Cream Market

The Middle East and Africa ice cream market is a promising and rapidly developing region, driven by its hot climate, rising disposable incomes, and a young, dynamic population. The market is propelled by a strong demand for both indulgent and premium products, as consumers are willing to spend more on high quality and innovative treats. There is also a notable trend toward flavor localization, with brands introducing flavors that cater to regional tastes, such as date, rose, and pistachio. The expansion of cold chain infrastructure is a critical enabler for market growth, allowing for wider distribution and greater product availability. The market is also seeing a shift towards online retail and e commerce, which, while still a smaller segment, is growing at a rapid pace. Key markets like Saudi Arabia, UAE, and Nigeria are leading the way, with a strong preference for both impulse and take home ice cream products.

Key Players

• The Ice Cream Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.
• Some of the prominent players operating in the ice cream market include:
• Unilever PLC
• American Dairy Queen Corporation
• Wells Enterprises
• Nestle SA
• Blue Bell Creameries
• General Mills Inc.
• Inspire Brands, Inc. (Baskin Robbins)
• Cold Stone Creamery
• Danone S.A.
• NadaMoo

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 MARKET DEFINITION
• 1.2 MARKET SEGMENTATION
• 1.3 RESEARCH TIMELINES
• 1.4 ASSUMPTIONS
• 1.5 LIMITATIONS

2 RESEARCH METHODOLOGY

• 2.1 DATA MINING
• 2.2 SECONDARY RESEARCH
• 2.3 PRIMARY RESEARCH
• 2.4 SUBJECT MATTER EXPERT ADVICE
• 2.5 QUALITY CHECK
• 2.6 FINAL REVIEW
• 2.7 DATA TRIANGULATION
• 2.8 BOTTOM-UP APPROACH
• 2.9 TOP-DOWN APPROACH
• 2.10 RESEARCH FLOW
• 2.11 DATA TYPES

3 EXECUTIVE SUMMARY

• 3.1 GLOBAL ICE CREAM MARKET OVERVIEW
• 3.2 GLOBAL ICE CREAM MARKET ESTIMATES AND FORECAST (USD BILLION)
• 3.3 GLOBAL ICE CREAM MARKET ECOLOGY MAPPING
• 3.4 COMPETITIVE ANALYSIS: FUNNEL DIAGRAM
• 3.5 GLOBAL ICE CREAM MARKET ABSOLUTE MARKET OPPORTUNITY
• 3.6 GLOBAL ICE CREAM MARKET ATTRACTIVENESS ANALYSIS, BY REGION
• 3.7 GLOBAL ICE CREAM MARKET ATTRACTIVENESS ANALYSIS, BY TYPE
• 3.8 GLOBAL ICE CREAM MARKET ATTRACTIVENESS ANALYSIS, BY CHAIN
• 3.9 GLOBAL ICE CREAM MARKET ATTRACTIVENESS ANALYSIS, BY DISTRIBUTION CHANNEL
• 3.10 GLOBAL ICE CREAM MARKET GEOGRAPHICAL ANALYSIS (CAGR %)
• 3.11 GLOBAL ICE CREAM MARKET, BY TYPE (USD BILLION)
• 3.12 GLOBAL ICE CREAM MARKET, BY CHAIN (USD BILLION)
• 3.13 GLOBAL ICE CREAM MARKET, BY DISTRIBUTION CHANNEL (USD BILLION)
• 3.14 GLOBAL ICE CREAM MARKET, BY GEOGRAPHY (USD BILLION)
• 3.15 FUTURE MARKET OPPORTUNITIES

4 MARKET OUTLOOK

• 4.1 GLOBAL PHOSPHATE ROCK MARKET EVOLUTION
• 4.2 GLOBAL PHOSPHATE ROCK MARKET OUTLOOK
• 4.3 MARKET DRIVERS
• 4.4 MARKET RESTRAINTS
• 4.5 MARKET TRENDS
• 4.6 MARKET OPPORTUNITY
• 4.7 PORTER'S FIVE FORCES ANALYSIS
  • 4.7.1 THREAT OF NEW ENTRANTS
  • 4.7.2 BARGAINING POWER OF SUPPLIERS
  • 4.7.3 BARGAINING POWER OF BUYERS
  • 4.7.4 THREAT OF SUBSTITUTE GENDERS
  • 4.7.5 COMPETITIVE RIVALRY OF EXISTING COMPETITORS
• 4.8 VALUE CHAIN ANALYSIS
• 4.9 PRICING ANALYSIS
• 4.10 MACROECONOMIC ANALYSIS

5 MARKET, BY TYPE

• 5.1 OVERVIEW
• 5.2 GLOBAL ICE CREAM MARKET: BASIS POINT SHARE (BPS) ANALYSIS, BY TYPE
• 5.3 BARS
• 5.4 BUCKETS/ TUBS
• 5.5 FLOATS

6 MARKET, BY CHAIN

• 6.1 OVERVIEW
• 6.2 GLOBAL ICE CREAM MARKET: BASIS POINT SHARE (BPS) ANALYSIS, BY CHAIN
• 6.3 LACTOSE FREE
• 6.4 LOW FAT
• 6.5 LOW CALORIE

7 MARKET, BY DISTRIBUTION CHANNEL

• 7.1 OVERVIEW
• 7.2 GLOBAL ICE CREAM MARKET: BASIS POINT SHARE (BPS) ANALYSIS, BY DISTRIBUTION CHANNEL
• 7.3 STORE BASED
• 7.4 NON STORE BASED

8 MARKET, BY GEOGRAPHY

• 8.1 OVERVIEW
• 8.2 NORTH AMERICA
  • 8.2.1 U.S.
  • 8.2.2 CANADA
  • 8.2.3 MEXICO
• 8.3 EUROPE
  • 8.3.1 GERMANY
  • 8.3.2 U.K.
  • 8.3.3 FRANCE
  • 8.3.4 ITALY
  • 8.3.5 SPAIN
  • 8.3.6 REST OF EUROPE
• 8.4 ASIA PACIFIC
  • 8.4.1 CHINA
  • 8.4.2 JAPAN
  • 8.4.3 INDIA
  • 8.4.4 REST OF ASIA PACIFIC
• 8.5 LATIN AMERICA
  • 8.5.1 BRAZIL
  • 8.5.2 ARGENTINA
  • 8.5.3 REST OF LATIN AMERICA
• 8.6 MIDDLE EAST AND AFRICA
  • 8.6.1 UAE
  • 8.6.2 SAUDI ARABIA
  • 8.6.3 SOUTH AFRICA
  • 8.6.4 REST OF MIDDLE EAST AND AFRICA

9 COMPETITIVE LANDSCAPE

• 9.1 OVERVIEW
• 9.2 KEY DEVELOPMENT STRATEGIES
• 9.3 COMPANY REGIONAL FOOTPRINT
• 9.4 ACE MATRIX
  • 9.4.1 ACTIVE
  • 9.4.2 CUTTING EDGE
  • 9.4.3 EMERGING
  • 9.4.4 INNOVATORS

10 COMPANY PROFILES

• 10.1 OVERVIEW
• 10.2 UNILEVER PLC
• 10.3 AMERICAN DAIRY QUEEN CORPORATION
• 10.4 WELLS ENTERPRISES
• 10.5 NESTLE SA
• 10.6 BLUE BELL CREAMERIES
• 10.7 GENERAL MILLS INC.
• 10.8 INSPIRE BRANDS INC. (BASKIN ROBBINS)
• 10.9 COLD STONE CREAMERY
• 10.10 DANONE S.A.
• 10.11 NADAMOO