Asia Pacific Ice Cream Market Report and Forecast 2024-2032

Asia Pacific Ice Cream Market Size

The Asia Pacific ice cream market reached around USD 38.14 billion in 2023. The market is projected to grow at a CAGR of 6.4% between 2024 and 2032, reaching almost USD 66.84 billion by 2032.

Asia Pacific Ice Cream Market Outlook

• Coffee, alcohol, and tea flavoured ice creams appeal to high-end consumers and are expected to become popular in the coming years.

• Bite-sized ice cream products dipped in chocolate are expected to witness a surge in demand in the coming years.

• Indonesia is expected to become one of the key regions for ice creams.

Asia Pacific Ice Cream Market Growth

Technological advancements are expected to transform sales of ice creams across the Asia Pacific. In India, major telecom giants like Vi are building intelligent supply chains that enable dairy companies to track the location and temperature of their vendor carts and provide a predictive analysis of the most suitable routes ice cream vendors can take for maximising their revenue. Thus, the integration of IoT into carts is expected to drive the market growth in the forecast period.

Swiggy, an online convenience goods delivery platform in India, reported a 16% year-on-year increase in the demand for ice creams, with Mumbai emerging as the key region from March 1 to April 15, 2024. Chocolate and mango were the most popular flavours, apart from others like tender coconut, almond, and vanilla. The demand for vegan and guilt-free options recorded a year-on-year growth of 70%, while the popularity of ice cream tubs surged by 25% y-o-y in 2024.

Major quick service restaurants are partnering with multinational ice cream manufacturers to maximise their revenues while also ensuring a delicious eating experience for consumers. For instance, Pizza Hut partnered with HUL’s Kwality Walls ice cream brand in 2021 to offer desserts and ice creams across its chains and platforms.

One of the key market trends is the high consumer appeal for cones featuring two delicious flavours (such as marmalade or caramel) swirled high together. Flavours such as choco chips and candy toppings enhance the visual appeal of these products and excite consumer’s curiosity for trying a new flavour.

Asia Pacific Ice Cream Industry Segmentation

Asia Pacific Ice Cream Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Flavour

• Chocolate

• Fruit

• Vanilla

• Others

Market Breakup by Category

• Impulse Ice-Cream

• Take-Home Ice-Cream

• Artisanal Ice-Cream

Market Breakup by Product Type

• Cup

• Stick

• Cone

• Brick

• Tub

• Others

Market Breakup by End Use

• Food Service

• Retailers

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• HoReCa

• Convenience Stores

• Online Channel

• Others

Market Breakup by Country

• China

• Japan

• India

• ASEAN

• Australia

• Others

Asia Pacific Ice Cream Market Share

Based on distribution channel, the market is divided into hypermarkets/supermarkets, HoReCa, convenience stores, and online channel, among others. Over the forecast period, online channels are expected to emerge as the leading market segment, with increasing smartphone penetration and internet accessibility rates supporting the proliferation of e-commerce platforms.

Leading Companies in the Asia Pacific Ice Cream Market

Key players are adopting innovative equipment and machinery to drive product innovations, quality control, and production efficiency.

• Gujarat Co-operative Milk Marketing Federation Ltd.

• Unilever plc

• General Mills Inc.

• Australasian Food Group Pty Limited

• Regal Cream Products Pty Ltd.

• Supatreats Australia Pty. Ltd.

• Invidia Foods

• Mother Dairy Fruit & Vegetable Pvt Ltd.

• Vadilal Group

• Havmor Ice Cream Pvt Ltd.

• Others

With growing health-consciousness and the rising prevalence of health issues such as diabetes, key players are introducing healthy and calorie-conscious ice cream that contains high dietary fibres.

Key Highlights of the Report