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Traditional Ice Cream Company Closes Operations, Marking a Transition in the Ice Cream Market and the Rise of Gelato.
The bankruptcy of the Rite Aid chain in October 2024, which resulted in the closure of around 500 pharmacies, triggered a crisis for Thrifty Ice Cream, as approximately 70% of its sales points were installed within those units.
This historical interdependence with pharmacies drastically compromised its physical presence and impact on the ice cream retail market in the U.S.
Founded in California in 1940, Thrifty established itself as a reference for two elements: the iconic square cone and exclusive flavors, such as Pistachio Nut and Rainbow Sherbet, combinations that go beyond the trivial vanilla-chocolate.
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More than products, the counters within pharmacies represented a family ritual, creating emotional ties between generations of consumers.
With the closure of hundreds of Rite Aid units, many of those counters disappeared, weakening the brand’s presence.
Thrifty then became dependent on supermarkets and other self-service retailers, channels that offer reach but do not replicate the emotional bond of counter service.
In the asset auction held during the bankruptcy process, Rite Aid included the Thrifty Ice Cream brand, factory, and production line.
The future may follow three distinct trajectories:
- Acquisition by groups willing to maintain the traditional product line.
- Conversion of the factory for the production of other food items.
- Complete discontinuation of the brand if there are no interested parties.
Each scenario will impact suppliers, direct and indirect collaborators, and especially consumers who have lost the emotional habit of buying at the counter.
For the sector, the eventual exit of Thrifty from sales points marks the end of an era, but also opens space for innovation.
The Rise of Gelato in Brazil
While a classic brand faces challenges in the U.S., in Brazil the gelato market, dessert inspired by the Italian model, continues to rise.
Data from Abrasorvete indicates a national consumption of 438 million liters in 2023, equivalent to a growth of 22.4% compared to 2022, generating more than R$ 13 billion with projections to exceed R$ 18 billion by 2025.
These figures reflect a change in consumer behavior, which increasingly seeks quality, novelty, and differentiated experiences.
In Brazil, gelato has stood out for its creamy texture, lower air content, a variety of sophisticated flavors, and use of regional ingredients.
Healthy products, with less sugar and protein versions, meet the demand for indulgence balanced with well-being.
Local cases like that of Sorvetes Frosty, a market leader in the Northeast, reinforce the trend.
With more than 200 items in its portfolio, factory expansion, and a focus on healthiness, the brand has reinvented itself and is among the five best-selling brands in national self-service.
The global ice cream market still grows about 4.1% per year through the end of 2025, but it is in the premium and artisanal segment, where gelato is included, that the biggest competition resides.
Global Transformation of Traditional Ice Cream
The disparity of the scenarios highlights two interconnected trends.
In the U.S., Thrifty’s decline may teach that tradition alone does not guarantee sustainability in modern retail.
In Brazil, the appreciation of artisanal gelato demonstrates that innovation, local identity, and healthiness are growth vectors.
The rise of gelato in Brazil occurs in a favorable context.
Tropical climate, specialized fairs like SIGEP and Fispal Sorvetes, along with a more demanding and connected consumer, are driving the segment.
This transition points to a global market for frozen desserts in reconfiguration.
Traditional forms coexist with premium and artisanal models, requiring that historical brands adapt while maintaining their essence.
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