Mars Incorporated announced its ambition to grow its frozen treats segment to $1 billion by 2030.
Since buying Dovebar 35 years ago, Mars has been an innovator in the ice cream category. Mars is a leader in confectionery, snacking, food, and pet care products and services and the maker of a flourishing frozen treats segment. Today, the Mars Ice Cream ambition: to grow the business to $1 billion by 2030.
The global ice cream market is projected to hit $104.96 billion by 2029, up significantly from $73.62 billion in 2021 (according to Fortune Business Insights). Mars holds several of the top-selling products in the U.S. frozen novelty category including Snickers Ice Cream Bars, M&M's Ice Cream Sandwiches, Twix Ice Cream, and Kind Frozen treats. Reaching $1 billion in sales would place Mars Ice Cream among the company's 12 other billion-dollar brands across snacking, pet and food categories.
"The widespread popularity of iconic Mars brands gives consumers the opportunity to enjoy their favorite candies as innovative Mars Ice Cream products," Shaf Lalani, general manager for Mars Ice Cream, said in the announcement. "Mars Wrigley North America will deliver both growth and positive societal impact with our vanilla for DOVEBAR and empower women throughout our supply chain."
The Dovebar is the first Mars Ice Cream product with a sustainability ambition. From farm, to factory, to freezer, the silky-smooth bars are made with positive societal impact in mind.
Sustainably sourced ingredients: Dovebars are made with 100% real ice cream using vanilla that's sourced from a large-scale vanilla project in Madagascar. In partnership with the Livelihoods Fund for Family Farming (L3F), the project is working to improve the lives of 2,700 vanilla farmers with a specific focus of empowering female vanilla farmers, improving the financial stability of all farmers and their communities, and preserving local biodiversity while cultivating a resilient vanilla supply chain.
Sustainable solutions in its operations: Mars is committed to embedding sustainable solutions throughout its operations, which includes its ice cream Dovebars made at Mars Wrigley's Burr Ridge facility in Illinois. The Mars Wrigley Burr Ridge facility in Illinois sources 100% renewable electricity and sends zero waste to landfills.
Reimagined packaging: Mars is investing hundreds of millions of dollars into innovative sustainable packaging with the aim to have 100% of all Mars packaging reusable, recyclable or compostable. Among other Mars Ice Cream product packaging updates, Mars recently reduced the film gage in its Dove Ice Cream Bars, which eliminates 27 tons of plastic annually, across four different product offerings.
"At Mars, we see an opportunity to grow our ice cream business not only in North America, but around the globe," Anton Vincent, president at Mars Wrigley North America and newly appointed head of Mars Ice Cream globally, added in the announcement. "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."