In a booming industry, now could be the time to invest in the iconic ice cream franchise
The numbers don’t lie – now could be the time to invest in the booming ice cream franchise industry, and Cold Stone Creamery, with its world renowned brand recognition and top of the line products, is poised for incredible growth in the coming years.
According to IBIS World, the most trusted source for industry research since 1971, the ice cream market has not only experienced a steady and lucrative boon in the past twenty years, it has also grown among the economic upheaval of the past two years and shows no signs of slowing down.
Here are some stats that show just how much the ice cream market is thriving:
- In 2022, the market size, measured by revenue, of the ice cream store industry hit nearly $6 billion. The growth rate for 2022, too, is expected to increase 1.7%.
- Between 2017-2022, the market size of the ice cream store industry in the U.S. has grown 0.8% per year. In all, IBIS World found the market size of the ice cream store industry in the U.S. increased faster than the Consumer Goods and Services sector overall.
ResearchandMarkets.com, another well-respected industry publication, estimated that by 2027, the market value for ice cream stores will reach an astonishing $15.8 billion, rising at a CAGR of 2.49%
“Ice cream is one of the most popular frozen dairy products in the United States,” the research study concluded. “In the U.S., ice cream is considered the most popular dessert and comfort food in homes, bakeries, restaurants, hotels, and other establishments.”
Indeed, more than 90% of Americans say they eat ice cream on a regular basis, making it a business that will never go out of style. According to the latest available, the average American consumes approximately 23 pounds of ice cream and related frozen desserts per year, and that number has only increased in the ensuing years as more people turn to their favorite pastime dessert.
And despite the economic hardships and uncertainty of the past two years, especially in the food service industry, Cold Stone Creamery has continued to grow, with that momentum showing no signs of slowing down as the consumer demand for ice cream holds strong. On the whole, ice cream sales shot up 16% in 2020, according to Dairy Foods.
As a result, Cold Stone Creamery is poised for even more growth with prime territory available in markets across the U.S. Plans are in the works to grow the brand by hundreds of locations in the next few years, with targeted areas of development, such as Florida, Illinois, New Mexico, Oklahoma, Pennsylvania, Tennessee and Texas.
“There has never been a better time to invest in a Cold Stone Creamery ice cream business franchise,” said John Wuycheck, SVP of Franchise Development. “Cold Stone is a brand with national and international name recognition. Not only do we enjoy household name recognition in America and globally, but we believe our product is far superior to what is available on the market.”