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Ice Cream Production in Canada Industry Data and Analysis
Canadian ice cream producers have seen their share of turbulence over the past five years, with revenue growth lurching from deep declines early in the decade to robust double-digit gains, before settling into more modest, steady territory by 2024 and 2025. Cost volatility—especially in sugar and milk—proved to be the principal risk, spurring sudden pricing and contract adjustments that rippled through every segment. As producers weathered these shocks, many improved their sourcing strategies, diversified supplier networks and adopted digital tools for forecasting and risk hedging. This operational discipline, paired with smarter supply chain management, is now underpinning the industry’s more predictable, if subdued, revenue trajectory. Since 2020, revenue has been growing at a CAGR of 7.5% but slowed to 0.6% in 2025, totalling $1.5 billion.
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What's included in this industry analysis
IBISWorld's research coverage on the Ice Cream Production industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released July 2025.
About this industry
What's this industry report about?
The Ice Cream Production industry in Canada operates under the NAICS industry code 31152CA. This industry comprises enterprises that primarily manufacture ice cream, frozen yogourt, frozen ices, frozen tofu, sherbet and other frozen desserts, except frozen bakery foods, which are covered in IBISWorld report 31181CA. The majority of raw inputs comes from the Dairy Farms industry in Canada (11212CA). Related terms covered in the Ice Cream Production industry in Canada include radio-frequency identification (rfid), private label and celiac disease.
What's included in this industry?
Products and services covered in Ice Cream Production industry in Canada include Ice cream, Ice mixes and Other.
What companies are included in this industry?
Companies covered in the Ice Cream Production industry in Canada include Unilever, David Chapman's Ice Cream and Nestle Canada.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Ice Cream Production industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Ice Cream Production industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Ice Cream Production industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Ice Cream Production industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Ice Cream Production industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Ice Cream Production industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Ice Cream Production industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Ice Cream Production industry in Canada.
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Frequently Asked Questions
What is the market size of the Ice Cream Production industry in Canada in 2026?
The market size of the Ice Cream Production industry in Canada is $1.5bn in 2026.
How many businesses are there in the Ice Cream Production industry in Canada in 2025?
There are 237 businesses in the Ice Cream Production industry in Canada, which has grown at a CAGR of 7.0 % between 2020 and 2025.
How may import tariffs affect the Ice Cream Production industry in Canada?
The Ice Cream Production industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Ice Cream Production industry in Canada?
The Ice Cream Production industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Ice Cream Production industry in Canada grown or declined over the past 5 years?
The market size of the Ice Cream Production industry in Canada has been growing at a CAGR of 7.5 % between 2020 and 2025.
What is the forecast growth of the Ice Cream Production industry in Canada over the next 5 years?
Over the next five years, the Ice Cream Production industry in Canada is expected to grow.
What are the biggest companies in the Ice Cream Production industry in Canada?
The biggest companies operating in the Ice Cream Production industry in Canada are Unilever, David Chapman's Ice Cream and Nestle Canada
What does the Ice Cream Production industry in Canada include?
Ice cream and milk specialties manufacturing and Frozen custard manufacturing are part of the Ice Cream Production industry in Canada.
Which companies have the highest market share in the Ice Cream Production industry in Canada?
The company holding the most market share in the Ice Cream Production industry in Canada is Unilever.
How competitive is the Ice Cream Production industry in Canada?
The level of competition is high and steady in the Ice Cream Production industry in Canada.
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