APAC Ice Cream Market Size (2024 - 2029)

The Asia-Pacific ice cream market is experiencing growth driven by increased disposable income, which encourages consumers to purchase high-quality ice cream products. The expansion of the dairy market in the region further supports ice cream production. Health-conscious trends are influencing consumer preferences, with a demand for ice creams that offer functional and health benefits, such as those made with premium ingredients. The rising popularity of premium ice creams, characterized by their high-quality components and lower aeration, is a key factor in market expansion. Additionally, innovations like sugar-free options are expected to boost market growth, particularly in countries like India.

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Market Size of APAC Ice Cream Industry

Asia-Pacific Ice Cream Market Summary
Study Period 2018 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2018 - 2022
CAGR 7.30 %
Market Concentration Low

Major Players

Asia-Pacific Ice Cream Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia Pacific Ice Cream Market Analysis

The Asia-Pacific Ice Cream Market is expected to register a CAGR of 7.3% in the forecasted period.

  • The Asia-Pacific ice cream market is growing as consumers have a higher disposable income and are more likely to buy high-quality ice cream. Food products such as ice cream and frozen desserts have seen rapid growth in the region, as disposable income is predominantly spent on food. Ice cream production is also spurred by the growing dairy market in the Asia-Pacific region. 
  • The demand for ice creams in the region is also boosted by the trend of health-conscious consumers who prefer ice creams with functional and health benefits. Health-conscious consumers are favoring brands that use high-quality ingredients such as mung bean and others. For instance, after launching in 2018, the healthy ice cream producer Joyday expanded to 260 Indonesian cities in 2021.
  • There is a rise in demand for premium ice creams across Asia-Pacific, which is expected to be one of the primary factors driving the market growth. Latest innovations in ice creams offered by manufacturers to meet consumer demand, such as sugar-free or low-sugar ice creams, are expected to accelerate the growth of the Indian ice cream industry during the forecast period. For instance, in March 2022, the Verka brand launched three new varieties of ice creams in India. One of them is sugar-free vanilla in an 80 ml cup, and the other two are amour range family packs in Afghan dry fruit and American nuts. 
  • Premium ice creams have become a popular product among consumers due to the presence of high-quality ingredients and a lower amount of aeration compared to regular ice creams. Significant growth in the dairy industry, rising demand for convenience foods, and increasing product premiumization are also expected to contribute to the increased demand for ice creams in the coming years.

Asia Pacific Ice Cream Industry Segmentation

Ice cream is a sweetened frozen food typically eaten as a snack or dessert.

Further, the Asia-Pacific ice cream market has been segmented based on category, type, distribution channel, and geography. Based on category, the market is segmented into dairy and non-dairy. by type, the market is segmented into impulse ice cream, artisanal ice cream, and take-home ice cream. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist stores, online retail stores, and other distribution channels. By geography, the market covers the major countries in the Asia-Pacific region like China, Japan, Australia, India, and the Rest of Asia-Pacific. 

For each segment, the market sizing and forecasts have been done on the basis of the value (in USD million).

Category
Dairy
Non-dairy
Type
Artisanal Ice-cream
Impulse Ice-cream
Take-Home Ice-cream
Distribution Channel
Hypermarkets/Supermarkets
Specialist Retailers
Convenience Stores
Online Retail Stores
Other Distribution Channels
Geography
China
Japan
India
Australia
Rest of Asia-Pacific
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APAC Ice Cream Market Size Summary

The Asia-Pacific ice cream market is experiencing robust growth, driven by increasing disposable incomes and a rising demand for high-quality frozen desserts. Consumers in the region are increasingly opting for premium ice creams, which are characterized by superior ingredients and innovative flavors. This trend is further fueled by the health-conscious segment of the population, who prefer ice creams with functional benefits and natural ingredients. The market is also benefiting from the expansion of the dairy industry and the introduction of new product variations, such as sugar-free and low-sugar options, which cater to evolving consumer preferences. The availability of diverse flavors and modern retail formats, including supermarkets and convenience stores, is enhancing market accessibility and driving sales.

China stands out as the leading consumer in the Asia-Pacific ice cream market, with a significant portion of the population embracing frozen desserts as convenient meal replacements. The country's expanding market for production and distribution, coupled with a growing preference for natural and low-calorie options, is propelling market growth. The competitive landscape in the region is marked by the presence of major players like Unilever, Nestlé, and General Mills, who are continually innovating to meet changing consumer demands. The market's growth is supported by a diversified distribution network, which allows manufacturers to maintain revenue streams across the region.

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APAC Ice Cream Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Category

      1. 2.1.1 Dairy

      2. 2.1.2 Non-dairy

    2. 2.2 Type

      1. 2.2.1 Artisanal Ice-cream

      2. 2.2.2 Impulse Ice-cream

      3. 2.2.3 Take-Home Ice-cream

    3. 2.3 Distribution Channel

      1. 2.3.1 Hypermarkets/Supermarkets

      2. 2.3.2 Specialist Retailers

      3. 2.3.3 Convenience Stores

      4. 2.3.4 Online Retail Stores

      5. 2.3.5 Other Distribution Channels

    4. 2.4 Geography

      1. 2.4.1 China

      2. 2.4.2 Japan

      3. 2.4.3 India

      4. 2.4.4 Australia

      5. 2.4.5 Rest of Asia-Pacific

APAC Ice Cream Market Size FAQs

The APAC Ice Cream Market is projected to register a CAGR of 7.30% during the forecast period (2024-2029)

General Mills Inc., Unilever PLC, Inspire Brands, Inc., Nestlé S.A. and Gujarat Cooperative Milk Marketing Federation Ltd (Amul) are the major companies operating in the APAC Ice Cream Market.

Asia Pacific Ice Cream Market Report Snapshots

Asia Pacific Ice Cream Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)