Asia Pacific Ice Cream Industry Overview

The Asia Pacific ice cream market size was estimated at USD 42.15 billion in 2023 and is projected to grow at a CAGR of 4.9% from 2024 to 2030.

The Asia-Pacific market is experiencing growth due to consumers having higher disposable incomes and a preference for purchasing high-quality ice cream products. This growth is fueled by the increasing demand for food items like ice cream and frozen desserts in the region, with disposable income being primarily allocated towards food purchases.

The rise in ice cream production is supported by the expanding dairy market in the Asia-Pacific region. The trend of health-conscious consumers seeking ice creams with functional and health benefits is further driving the demand for high-quality products made with ingredients like mung bean and other nutritious components.

Gather more insights about the market drivers, restrains and growth of the Asia Pacific Ice Cream Market

The increasing popularity of premium ice creams in the region is anticipated to be a key driver for market growth. Manufacturers are introducing new ice cream innovations, like sugar-free plant-based varieties, to cater to consumer preferences, thereby fueling the market growth of the Asia Pacific ice cream industry in the forecast period. In March 2024, Eclipse Foods, the plant-based ice cream brand known for its commitment to replicating the creamy texture and rich flavors of traditional dairy, launched its latest innovation: Eclipse Bonbons. This exciting new line takes the brand's signature non-dairy ice cream to a whole new level of indulgence, offering a luxurious treat that rivals the most decadent chocolate-covered ice cream bonbons.

Major players in the Asia Pacific market are investing heavily in research and development to introduce new and innovative flavor varieties of ice creams. In April 2024, Havmor, a brand under LOTTE Wellfood Co. Ltd, launched a fresh lineup of ice cream flavors just in time for the upcoming summer heatwave. The range features a mix of traditional favorites and contemporary twists. From classics like Shahi Kesar and Rajwadi Kulfi to modern delights such as Blueberry Cheesecake, Cookie and Cream cones, and ice cream sandwiches. It also added seasonal treats like Jaljeera Kalakhatta, Ratnagiri Hapus, and rose-flavored ice cream for a cool and revitalizing indulgence.

The increasing expenditure on ice creams in Asian countries such as India, Japan, and New Zealand is projected to support market growth. For instance, according to Japan’s Ministry of Internal Affairs and Communications (MIC), expenditure on ice cream among Japanese consumers witnessed a 135% growth between 2011 and 2020.

Asia Pacific is characterized by an increasing demand for high-end ice creams. The changing consumption habits of consumers and the vast diversity in the region have led to the demand for varied flavor combinations and innovative ice creams. The region has also witnessed the introduction of new brands to the market, which has led to positive competition in the industry. For instance, Chicecream is a premium ice cream brand in China that focuses on high-end and creative ice creams. Founded in 2018, Chicecream was the No. 1 brand in terms of sales in the ice product sector on Tmall in 2020 and 2021. It is also immensely popular at China's annual Double 11 and 618 shopping festivals.

Browse through Grand View Research's  Consumer FB Industry Research Reports.

• The global ice cream market size was estimated at USD 113.40 billion in 2023 and is expected to grow at a CAGR of 3.9% from 2024 to 2030.
• The global functional ingredients market size was valued at USD 73.1 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030.

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

Key Companies profiled:

• 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
• United Family Food
• Froneri International Limited

Key Asia Pacific Ice Cream Company Insights

Asia Pacific market is expected to witness moderate competition among the companies owing to the presence of numerous players across the industry. Owing to changing consumer trends, numerous companies are expanding their product portfolio to gain a competitive edge in the market. Some of the key market players in the Asia Pacific market are 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

The ice cream market is experiencing significant growth, driven by the contributions of numerous small and mid-size players operating in various countries. To boost sales volume, which has been declining in developed regions like Asia Pacific, manufacturers are introducing innovative flavors and formats.

Recent Developments

• In January 2024, Singapore's OATSIDE has recently broadened its range by introducing a new line of ice cream, leveraging its distinctive oat milk as the primary component. This fresh ice cream collection is currently offered in three flavors: chocolate, peanut butter cookie dough, and coffee with mini chocolate chips
• In March 2023, Chinese dairy giant Mengniu has taken a significant step in expanding its global reach with the completion of the most extensive smart ice cream factory in Southeast Asia (ASEAN). This new facility, operated by its subsidiary brand Aice Group, marks a historic moment for the Philippines - it is the country's first intelligent ice cream factory

Order a free sample PDF of the Asia Pacific Ice Cream Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.