Singapore Ice-Cream Market Report and Forecast 2024-2032

Singapore Ice-Cream Market Size

The Singapore ice-cream market reached around USD 584.35 million in 2023. The market is projected to grow at a CAGR of 4.2% between 2024 and 2032, reaching almost USD 846.22 million by 2032.

Singapore Ice-Cream Market Outlook

• Singapore imported USD $63.8 million worth of ice-creams in 2022.

• In 2022, total ice-cream sales in Singapore reached $118.5 million.

• The anticipated growth of the food processing industry in Singapore is expected to drive the market growth.

Singapore Ice-Cream Market Growth

Ice-cream imports into Singapore grew at a CAGR of over 10% between 2018 and 2022. France supplied USD $16.5 million of ice-cream to Singapore, which grew at a CAGR of 34% between 2018 and 2022. This made France the leading ice-cream supplier to Singapore, followed by Thailand (9.8 million) and Malaysia (USD $11.8 million). Japan remains an important ice-cream supplier to Singapore.

As compared to 2018, the sale of impulse ice-creams recorded a significant growth. Besides, take-home ice cream consumption reached $86.4 million by value, constituting two thirds of all ice-cream sales.

Technological developments in dairy substitution processes are expected to drive ingredient-based innovations, such as allergen-free, lactose-free, and gluten-free ice-cream ingredients. Rising health consciousness among people is expected to enhance the demand for ketogenic and high-protein protein creams, which cater to consumers’ palates and help them stay fit. In 2022, the total sales of vegan ice-creams reached $5.5 million by value. Thus, they represent a significant growth opportunity for major market players.

Strawberry, hazelnut, and fruity flavours are expected to emerge as popular ice-cream flavours among consumers in the country in the forecast period.

Singapore Ice-Cream Industry Segmentation

Singapore 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

Singapore Ice-Cream Market Share

Based on category, the market is divided into impulse ice-cream, take-home ice-cream, and artisanal ice-cream, among others. Over the forecast period of 2024-2032, artisanal ice-cream is projected to grow at a CAGR of 4.5% as it is made from fresh and high-quality ingredients. The increasing number of artisanal ice-cream shops in the country is also propelling the market.

Leading Companies in the Singapore Ice-Cream Market

The development of Solein, which contains 80% proteins and nearly 10% digestive fibres, is expected to drive ice-cream demand among health-conscious consumers. This is because solein is a microbial protein which is created from water and air and is considered to be the world’s most sustainable protein.

• UDDERS ICE-CREAM

• Birds of Paradise

• Creamier Handcrafted Ice-cream & Coffee

• Avenue Creamery Pte Ltd.

• Lickers

• DOPA

• Kind Kones

• Toms Palette

• FATCAT Ice-cream Pte Ltd.

• Others

Key Highlights of the Report