Why 35% of the Ice Cream Market Melted Away Despite the Heat?

It’s the height of summer, the sun is blazing, and it’s the perfect season for a cool bite of ice cream. Yet surprisingly, recent statistics reveal that the domestic ice cream market has declined by 35% . What’s behind this unexpected drop? In this post, we’ll explore the complex reasons why ice cream sales have plunged despite scorching heatwaves. 1. Sales Volume Falls, Revenue Barely Holds According to the distribution industry, ice cream sales volume fell by as much as 35% in summer 2024 compared to summer 2023. However, total revenue remained relatively stable thanks to higher product prices. In essence, unit prices rose while purchase frequency dropped, showing a clear shift in consumer behavior. 2. Soaring Ingredient Costs, Especially Coconut Oil One of the main culprits is the skyrocketing cost of raw materials . Key ingredients such as coconut oil, milk, and sugar have seen significant price increases in recent years. Since coconut oil is heavily imported, global ma...