asia-pacific-ice-cream-market
Published

October 2017

Asia-Pacific Ice Cream Market – Growth, Trends and Forecasts (2018 - 2023)

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Market Insights

The Asia-Pacific ice cream market is expected to register a CAGR of 5.6% during the forecast period, 2018-2023. China is the world’s largest ice cream market, having moved ahead of the United States. Rising disposable incomes, coupled with a shift in consumer preferences, drive the growth of this market. In 2014, the ice cream market in China was valued at USD 11.4 billion. The demand for artisanal ice creams is gradually increasing in the region. South Korea invented an ice cream based hangover cure called Gyeondyo-bar, which translates as “hang in there”.

Market Dynamics

Indulgence and an increase in urbanization drive the growth of this market. A rise in the demand for ice cream products from consumers above 50 years is another factor that also contributes to the growth. However, health concerns and infrastructure and supply chain issues pose a threat to the market. People suffering from lactose intolerance cannot eat ice creams, thus creating an opportunity for vendors to introduce lactose-free ice creams. The developing countries of the region would experience a high CAGR during the forecast period.

Market Segmentation

Asia-Pacific ice cream market is segmented by shape, type, and sales. By shape, the market is segmented into sticks, buckets, sundae, floats and frozen novelties. By sales, the market is discussed for impulsive ice cream, take-home ice cream and artisanal ice cream.

Regional Analysis

The Asia-Pacific ice cream market has been geographically segmented into China, Japan, India, Australia and others. China overtook the US as the world’s biggest ice cream market in 2014, for the first time. Rising incomes and an increasingly developed retail infrastructure and cold chain network are driving the growth of the ice cream market in China. India’s ice cream market is growing at a fast pace, with brands mostly dividing into one of the two camps of happiness or health. In 2015, the market value rose by around 17% in India.

Competitive Environment

The market for ice creams is highly fragmented due to the presence of many large and small scale vendors, who compete for innovation, pricing and distribution. The vendors are focussed on producing new and varieties of ice cream, like the organic ice cream and gluten-free ice cream. Private brands are expected to increase their market share during the forecast period. Some of the major players in market include -

  • Amul
  • Blue Bell Creameries
  • General Mills
  • Mars
  • Nestle
  • Unilever

 

Reasons to Purchase this Report

  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
  • Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
  • 3 months analyst support along with the Market Estimate sheet in excel.

Customization of the Report

  • Value chain analysis
  • Volume of the Asia-Pacific Ice Cream Market
  • Consumer behavior analysis in country level

This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.

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