The Asia-Pacific ice cream market was valued at USD 28.22 billion in 2023 and is projected to grow at a CAGR of 5.7% over the forecast period.
Market Overview:
Ice cream is a frozen dessert made from a blend of milk, cream, sugar, and other ingredients, often including stabilizers like gluten and vegetable gum to ensure a consistent texture. The market is divided into various segments including Type, Flavor, Distribution Channel, and Geography. By type, the market is categorized into impulse ice cream, take-home ice cream, and artisanal ice cream. Flavors are segmented into vanilla, chocolate, fruit, and other varieties. Distribution channels include online platforms, supermarkets, convenience stores, and specialty stores. The market is analyzed across key Asia-Pacific countries such as India, China, Japan, Australia, and other regions, with forecasts provided in USD billion.
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Market Dynamics:
Rising Demand for Premium Ice Creams: There is a growing trend towards premium ice creams that include dairy-free and gluten-free options, unique flavors like cinnamon roll ice cream, and innovative choices like chewy corn crepes. This shift is expected to create new opportunities for manufacturers. The increase in craft ice cream parlors and higher consumer spending on high-quality products made with natural ingredients and traditional methods is likely to drive market growth.
Growing Popularity of Vegan Ice Cream: The vegan ice cream segment is expanding due to the increasing number of people adopting vegan lifestyles. This growth is driven by the ethical and health benefits associated with vegan diets. The demand for vegan products such as vegan proteins, cheeses, eggs, gelatin, cakes, and butters is contributing to the rise in popularity of vegan ice cream.
High Storage and Logistics Costs: Ice cream products require significant investment in storage and logistics to maintain the necessary low temperatures. This involves high energy consumption and the use of specialized vehicles with advanced freezing technologies, leading to increased costs. These factors may impact market growth in the coming years.
Market Segment Analysis:
By Type: The market is divided into impulse ice cream, take-home ice cream, and artisanal ice cream. Impulse ice cream is the leading segment due to its convenience and popularity, especially among children and teenagers.
By Flavor: Flavors are categorized into vanilla, chocolate, fruit, and others. Vanilla dominates the market, holding the largest share due to its classic appeal and widespread preference among consumers of all ages.
By Distribution Channel: The market is segmented into supermarkets, specialty stores, convenience stores, and online platforms. Online distribution is the fastest-growing segment, driven by the increasing use of the internet and smartphones. Online channels offer advantages such as discounts and free delivery services, contributing to their rapid growth.
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Asia Pacific Ice Cream Market Key Players:
Meiji Holdings Co. Ltd (Japan)
Amul (India)
Vadilal (India)
Bulla Dairy Foods (Australia)
Morinaga Milk Industry (Japan)
Yili group (China)
Cold rock ice creamery (Australia)
Creambell (India)
Key questions answered in the Asia Pacific Ice Cream Market are:
- What is Asia Pacific Ice Cream?
- What was the Asia Pacific Ice Cream market size in 2023?
- What is the growth rate of the Asia Pacific Ice Cream Market?
- Which are the factors expected to drive the Asia Pacific Ice Cream market growth?
- What are the different segments of the Asia Pacific Ice Cream Market?
- What growth strategies are the players considering to increase their presence in Asia Pacific Ice Cream?
- What are the upcoming industry applications and trends for the Asia Pacific Ice Cream Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Asia Pacific Ice Cream Market?
- What segments are covered in the Asia Pacific Ice Cream Market?
- Who are the leading companies and what are their portfolios in Asia Pacific Ice Cream Market?
- What segments are covered in the Asia Pacific Ice Cream Market?
- Who are the key players in the Asia Pacific Ice Cream market?
For a detailed overview of this study, click here:https://www.stellarmr.com/report/Asia-Pacific-Ice-Cream-Market/1213
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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