Asia Pacific Ice Cream Market To Reach $58.79 Billion By 2030

Asia Pacific Ice Cream Market Growth & Trends

The Asia Pacific ice cream market size is anticipated to reach USD 58.79 billion by 2030 and is projected to grow at a CAGR of 4.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The Asia-Pacific market is witnessing expansion attributed to consumers' increased disposable incomes and their inclination towards premium ice cream products. This growth is driven by a rising preference for food items such as ice cream and frozen desserts, with a significant portion of disposable income directed towards food purchases.

The surge in ice cream production is bolstered by the growing dairy sector in the Asia-Pacific region. A notable trend is the preference among health-conscious consumers for ice creams offering functional and health benefits, leading to a heightened demand for top-notch products featuring ingredients like mung bean and other nutritious components.

Increasing product prices, driven by inflation and the emphasis on creating viral content online, are expected to impact ice cream market sales negatively. This effect is especially evident in China, a major global ice cream market. Consequently, newly launched ice cream brands like Chicecream have gained substantial market share in China's premium ice cream segment, partly due to the elevated pricing of established brands like Häagen-Dazs.

Major players in the Asia-Pacific market, such as Nestle SA, General Mills Inc., Appolo Ice Cream Co Ltd, Unilever PLC, Yili Group, CAMPINA ICE CREAM INDUSTRY Tbk., Diamond Food Indonesia, and Dairy Bell Ice Cream, are implementing various strategies to stay competitive and maintain their market positions. These companies are focusing on continuous product innovation to meet changing consumer preferences and market trends. This includes introducing new flavors, formulations, packaging designs, and healthier options to cater to diverse consumer segments.

In March 2023, Healthy ice cream brand NOTO introduced three new Indian-flavored gelatos that are denser, richer, and creamier, containing half the fat and sugar. Each of these flavors has a significant historical connection with the Indian palate, resonating deeply with consumers.

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Asia Pacific Ice Cream Market Report Highlights

• Based on source, the dairy & water-based segment led the market with the largest revenue share of 94.5% in 2023. Dairy-based ice creams have been enduring favorites throughout Asia Pacific nations, valued for their creamy texture, flavorful richness, and luxurious appeal that resonate with a diverse consumer base. This segment of dairy-based ice creams is also experiencing a trend towards premiumization, characterized by the rising popularity of gourmet flavors, artisanal craftsmanship, and the use of high-quality

• Based on flavor, the fruit segment is projected to grow at the fastest CAGR of 5.5% from 2024 to 2030. In the Asia Pacific, consumers are placing a growing emphasis on health and wellness. Fruit-flavored ice cream is seen as a more health-conscious option compared to conventional flavors such as chocolate or caramel, particularly when crafted with genuine fruit purees or extracts. This type of ice cream provides natural sweetness and lively flavors, free from excessive added sugars or artificial components

• Based on packaging, the bars segment led the market with the largest revenue share of 32.8% in 2023. Bars packaging provides convenience and portability, making it a perfect option for consumption on the move. Ice cream bars allow consumers to enjoy their treats without requiring bowls or utensils, making them suitable for outdoor excursions, travel, and spontaneous indulgences. These bars are available in a wide range of flavors and styles, catering to a variety of consumer tastes

• Based on distribution channel, the supermarkets & hypermarkets segment led the market with the largest revenue share of 32.2% in 2023. Brands have expanded their product ranges in supermarkets and hypermarkets by introducing a diverse selection of items, including sundaes, fudge, bars, popsicles, and fusion products that blend two or more flavors

Asia Pacific Ice Cream Market Segmentation

Grand View Research has segmented the Asia Pacific ice cream market report based on source, packaging, flavor, distribution channel, and country:

Asia Pacific Ice Cream Source Outlook (Volume, Million Liters; Revenue, USD Million, 2018 - 2030)

• Dairy & Water-based

• Vegan

Asia Pacific Ice Cream Flavor Outlook (Volume, Million Liters; Revenue, USD Million, 2018 - 2030)

• Vanilla

• Chocolate

• Fruit

• Cookie & Cream

• Nut

• Others

Asia Pacific Ice Cream Packaging Outlook (Volume, Million Liters; Revenue, USD Million, 2018 - 2030)

• Cartons

• Tubs

• Cups

• Cones

• Bars

Asia Pacific Ice Cream Distribution Channel Outlook (Volume, Million Liters; Revenue, USD Million, 2018 - 2030)

• Hypermarkets & Supermarkets

• Convenience Stores

• Ice Cream Parlor

• Online

• Others

Asia Pacific Ice Cream Country Outlook (Volume, Million Liters; Revenue, USD Million, 2018 - 2030)

• Hong Kong

• Taiwan

• South Korea

• Thailand

• Singapore

• Indonesia

• Australia

• New Zealand

• Japan

List of Key Players in Asia Pacific Ice Cream Market

• Nestle SA

• General Mills Inc.

• Appolo Ice Cream Co Ltd;

• Unilever PLC

• Yili Group

• CAMPINA ICE CREAM INDUSTRY Tbk.

• Diamond Food Indonesia

• Dairy Bell Ice Cream

• PT. United Family Food

• Froneri International Limited