Asia-Pacific Ice Cream Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Ice Cream Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-pacific Ice-Cream market is projected to grow at a CAGR of 7% during the forecast period (2020-2025).

Key Highlights

• There is a rise in demand for premium ice creams, across Asia-Pacific, which is expected to be one of the primary factors driving market growth. Premium ice creams have become a popular product among health-conscious consumers, due to the presence of high-quality ingredients and a lower amount of aeration compared to regular ice creams.

• The Developing Economies of Asia-Pacific will see a rising trend of disposable incomes in the coming years which will raise their living standards. The greater part of the disposable income is spent on food and therefore the proportion of ice-cream consumed by the end-consumers will increase.

Key Market TrendsRising Popularity of Frozen desserts

Ice-cream Segment forms a major part of the Frozen Desserts Market. The rising demand for innovative flavors and formats, and increasing impulse purchase of the product, especially in developing countries, are expected to drive the growth of the ice cream segment which in turn is driving the growth of the Frozen Dessert Market.

Increase in preference towards pure and simple flavors

Consumer’s preferences towards ice creams has always been increasing. These major segments of people namely The purist, The Health Conscious, The Experimentalist, The Under-Indulger and The Loyalist have different characteristics towards their preferences for Ice-Creams. The purist prefers simple flavors and thinks of it as a special dessert. The health conscious considers organic ice-creams whereas the experimentalist will always try a new flavor. The Under-Indulger may buy small sizes of ice-creams whereas the loyalist buys larger sizes.

Competitive Landscape

Unilever, General Mills Inc.,Nestlé, Amul, LOTTE Co.,Ltd., etc are some of the prominent players in the Asia-Pacific Market. Vendors compete on the basis of price, quality, product differentiation, distribution, and promotion. It is crucial for players to continuously innovate to operate and grow in the market, due to the rapidly changing consumer demands and preferences. Diversified distribution network gives an upper edge to the Asia-Pacific ice cream manufacturers to sustain their revenue sales, across the region. Unilever’s growth in ice cream was driven by margin-accretive innovations behind premium brands, including the Magnum Double range, the Ben & Jerry’s ‘Wich sandwich, and dairy free range, as well as new variants of Talenti.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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