WHY ICE CREAM?
- According to the International Dairy Food Association, 90% of all Americans (over 292 million people) consume ice cream.
- The average American consumes almost 22lbs of ice cream products per year, 60% of which is consumed outside of the home.
- Ice cream consumption was growing at over 2% as of August 2014, with over $5.4 billion in sales in the United States. The North American ice cream market is also expected to register a compound annual growth rate of 4.1% from 2018 to 2023.
- Innovative flavors are acting as a major driver for the ice cream market.
- According to a recent survey of U.S. ice cream manufacturers, premium ice cream (such as Ritter's Frozen Custard) is the most popular product with consumers. In fact, sales of low-quality ice cream have been declining because of this increased preference for premium ice cream.
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