NEWARK, NJ — Best known for its confectionery, snack and pet food brands, Mars Inc. has set its sight on generating $1 billion in frozen treat and ice cream sales by 2030. Propelling the company will be such brands as Dove, M&M’s, Snickers, Twix and Kind in ice cream bar, ice cream sandwich and frozen treat formats.
“The widespread popularity of iconic Mars brands gives consumers the opportunity to enjoy their favorite candies as innovative Mars ice cream products,” said Shaf Lalani, general manager for Mars Ice Cream.
The global ice cream market is projected to reach $104.96 billion by 2029, up significantly from $73.62 billion in 2021, according to the market researcher Fortune Business Insights and cited by Mars.
While the company plans to leverage the strength of its brands in the frozen treat category, it also is planning on capitalizing consumer interest in products manufactured sustainably. For example, the vanilla used to flavor Dove ice cream bars is sourced from farmers participating in the Livelihoods Fund for Family Farming, an effort focused on improving the lives of vanilla farmers in Madagascar.
“At Mars, we see an opportunity to grow our ice cream business not only in North America, but around the globe,” said Anton Vincent, president of Mars Wrigley North America and the newly appointed head of Mars Ice Cream globally. “We’re innovating with a focus on product and purpose, and expanding our global manufacturing capabilities to ensure we can meet rapidly rising consumer demand.”
“This acquisition is a great step in the evolution of our ice cream portfolio in North America toward high growth spaces,” said Matt Close, president of ice cream for Unilever, at the time. “I am confident that with the full support of Unilever behind Yasso, we will take this fast-growing business to even greater heights.”
“This represents a win-win partnership, bringing together ice cream experts and confectionery champions,” said Giovanni Ferrero, executive chairman of the Ferrero Group, at the time. “Together, we have the power of one and are well placed to grow and compete in the ice cream market.”