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In this article, we discuss the 15 biggest ice cream companies and brands in America. To skip the market analysis of the ice cream industry, skip to the 5 Biggest Ice Cream Companies and Brands in America.
According to Allied Market Research, the global ice cream market was valued at $68.05 billion in 2020 and is expected to reach $122.05 billion by 2031, at a CAGR of 5%. In the United States alone, the ice cream market is expected to reach $15.8 billion by 2027.
COVID-19 Impact
The pandemic had a severely negative impact on ice cream sales. In Germany, the sales of ice cream fell by 8% in 2020. Even though the consumption volumes were up by 2.5%, the negative impact was due to the closure of hospitality spots. In the UK, the industry reported ￡289 million in losses in 2020 according to Ice Cream Alliance. Furthermore, in India, sales declined by 50%.
Market Consumption in the US
According to International Dairy Foods Association, 1.3 billion gallons of ice cream were produced in the United States in 2021, and ice cream currently contributes around $13.1 billion to the US economy. On top of that, an average American consumes around 20 pounds of ice cream each year. 90% of US citizens are reported to consume ice cream.
Parent Companies of Major Ice Cream Brands
Unilever PLC (NYSE:UL)
Unilever PLC (NYSE:UL) is a British company that owns several American ice cream brands. The company owns two of the biggest ice cream companies in the US, Ben & Jerry’s and Talenti.
General Mills, Inc. (NYSE:GIS)
General Mills, Inc. (NYSE:GIS) is an American multinational food processing company. The company operates worldwide and is the owner of H?agen-Dazs.
The Kroger Co. (NYSE:KR)
The Kroger Co. (NYSE:KR) is an American publicly traded retail company. It owns Kroger’s ice cream, and also sells ice cream from other companies in its stores. The Kroger Co. (NYSE:KR) owned Turkey Hill Dairy before selling it off in 2019.
Photo by Tobias on Unsplash
Our Methodology
After a careful analysis of the ice cream industry, we made a list of the 15 biggest ice cream companies and brands in America. All of these companies are US owned and generate the most significant amount of revenue among ice cream brands in the country. These companies are either owned by a private company, or a family or are publicly traded companies in the US.
Biggest Ice Cream Companies and Brands in America
15. Ben & Jerry's - Owned by Unilever PLC (NYSE:UL)
Ben and Jerry’s is an American brand that sells ice cream, frozen yogurt, and sorbet. It was an independent company till the year 2000 and was then acquired by Unilever PLC (NYSE:UL). It is headquartered in Vermont, United States.
Recently, Ben and Jerry’s has been in conflict with its parent brand Unilever PLC (NYSE:UL) over its sales in Israel. Ben and Jerry’s criticized the company’s decision to allow its sales in the area through a third party. Earlier in July, the ice cream company had also filed a lawsuit against Unilever PLC (NYSE:UL) in a New York federal court.
Ben and Jerry’s revenue peaked in 2021 at $450 million. Moreover, the company may become the first ice cream company to produce ice cream from cow-free milk.
14. H?agen-Dazs - Owned by General Mills, Inc. (NYSE:GIS)
H?agen-Dazs is a Minnesota-based ice cream company with over 900 locations worldwide. Apart from ice creams, the company sells frozen yogurt, sorbets, and gelato. The company is owned by General Mills, Inc. (NYSE:GIS) and Froneri.
In late September, General Mills, Inc. (NYSE:GIS)'s H?agen-Dazs announced the expansion of its portfolio with new festive flavors. The company launched caramel, lotus biscoff and cream, and red velvet cheesecake which will be available in 95ml portions.
General Mills, Inc. (NYSE:GIS)'s H?agen-Dazs’ average annual revenue is estimated to be $420.7 million. The company’s estimated revenue per employee is around $378,000. The company might face some decline in revenue in 2022 as it had to recall several products due to the discovery of toxic materials in its products that were imported to Israel.
13. Blue Bell Creameries
Blue Bell Creameries is a Texan ice cream company. The company started as an ice cream and butter manufacturer but moved away from butter production a few decades ago. In November, the company was chosen to receive Texas Treasure Business Award, an award that pays tribute to businesses that have made significant contributions to the state.
Blue Bell Creameries has an annual estimated revenue of $366.5 million per year. Moreover, the company had record revenues of $500 million in 2021. Blue Bell Creameries has over 1000 employees which make its revenue per employee ratio $500,000.
12. Turkey Hill Dairy - Owned by The Kroger Co. (NYSE:KR)
Turkey Hill Dairy is an American manufacturer of cold and frozen edible products such as ice creams, frozen yogurt, and iced tea.
In 2016, Turkey Hill partnered with Maryland and Virginia Milk Producers Cooperative Association to initiate Turkey Hill Clean Water Partnership. The partnership focuses on the cleanup of local water quality through animal waste storage systems, riparian forest buffers, cover crops, and barnyard stabilization in the Lancaster area.
Turkey Hill Dairy generated a revenue of $310 million in 2021, compared to $337 million in 2020. On average, the company produces 29 million gallons of ice cream per year with 72 different flavors.
11. Dairy Queen - Berkshire Hathaway Inc. (NYSE:BRK-A)
Dairy Queen is an American fast-food restaurant chain and soft-serve ice cream company. It is owned by Berkshire Hathaway Inc. (NYSE:BRK-A). The company operates globally through approximately 7000 locations.
Dairy Queen has been franchising since 1940. The liquid capital required to acquire a company franchise is $400,000 and a net worth of at least $750,000. The company franchise royalty stands at 4%.
In 2021, Berkshire Hathaway Inc. (NYSE:BRK-A)'s Dairy Queen recorded a peak revenue of $5.5 billion. $4.49 billion of the company’s annual sales were made through the company’s frozen dessert chains.
10. Baskin-Robbins
Baskin-Robbins is a multinational chain of ice creams and desserts headquartered in California. The company has around 7700 chains worldwide. In 2019, the company introduced vegan and non-dairy flavors bringing the total number of flavors introduced by the company to 1,300 since 1935. Baskin-Robbins announced that it will close down all of its stores in the Philippines by December 31, 2022.
Baskin-Robbins does not disclose its annual sales. However, according to the company’s president, its sales grew by 3.5% in 2020 and 10% in 2021. The franchise average net sales for each franchise in the US were $419,003.
9. Cold Stone Creamery - MTY Food Group Inc. (TSX:MTY)
Cold Stone Creamery is an American ice cream parlor chain that operates in 20 countries from 1,300 locations. The company also sells pies, cookie sandwiches, smoothies, shakes, and iced or blended coffee drinks.
Cold Stone Creamery’s average gross sales amount to $593,868. The company’s average revenue per year is around $745.3 million. In 2021, 45% of the company franchises met or exceeded the average gross sales amount. Furthermore, Cold Stone Creamery’s top 20% of the franchised outlets’ average gross sales were around $939,264.
8. Talenti - Owned by Unilever PLC (NYSE:UL)
Talenti is an American ice cream, gelato, and sorbet company. It is America’s largest producer of gelato and sorbet. The company was founded by Joshua Hochschuler in 1996 in Argentina and started as a store-front gelateria in Dallas, Texas in 2003. The company was purchased by Unilever PLC (NYSE:UL) in 2014 after its sales had reached around $175 million.
Talenti exited 2007 with $1.7 million worth of sales and now it has average annual sales of around $250 million. In 2020, over 820,000 people in the US consumed 4 quarts or more of Talenti ice cream in the month of May alone.
Today, Talenti also offers dairy-free, gluten-free, fat-free, egg-free, and vegan options to its customers.
7. Tillamook County Creamery Association
Tillamook County Creamery Association is headquartered in Oregon and is one of the biggest dairy companies in the United States. The company produces ice cream, cheese, butter, sour cream, and yogurt. It is the largest employer in Tillamook Country, Oregon, with over 900 employees.
Tillamook County Creamery Association sold 43 million units of ice cream in 2021 making it one of the biggest ice cream companies in the United States. The company had a revenue of around $250 million in 2021, compared to $195.4 million in the previous year.
6. Mayfield Dairy Farms
Mayfield Dairy Farms is headquartered in Tennessee and offers ice creams, milk, chocolate milk, and juices. Following the bankruptcy of its parent company Dean Foods, the company is still operated by the company owner’s grandson. Dean Foods was acquired by Dairy Farmers of America Inc. in 2020.
Mayfield Dairy Farms had around 1700 employees in 2021 with a revenue per employee ratio of $341,176. It had a revenue of $560 million in 2021.
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Disclosure: None. 5 Biggest Ice Cream Companies and Brands in America is originally published on Insider Monkey.
