Market Trends of APAC Ice Cream Industry
This section covers the major market trends shaping the APAC Ice Cream Market according to our research experts:
The Variety of Flavors is Boosting the Market's Growth
- The availability of various flavored ice creams drives the growth of the ice cream industry. As a result, ice cream consumers pay a premium price for these products, increasing the market's revenue. Manufacturers are increasing their product range by including functional ingredients and exotic flavors in product formulations to meet the changing consumer demands.
- For instance, in June 2022, Thai Glico announced the release of new ice cream flavors from the SUNAO brand, which include macadamia ice cream and almond ice cream. SUNAO contains dietary fiber without any sucrose and is made with Macadamia nuts and almonds. Currently, it is available only at 7-Eleven restaurants in Greater Bangkok, Thailand.
- The latest innovation in a product comes up with the availability of various flavored ice creams in modern retail formats such as departmental stores, hypermarkets, supermarkets, and convenience stores, which is also driving market growth.
- For instance, companies are including other exotic flavors such as tropical fruits, matcha, chocolate, and vanilla to cater to the changing tastes of consumers. In this way, with modern food technologies, product innovation of various ice cream flavors accelerates the growth and development of the market across the region.
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China Leads the Ice-cream Market
- China is the leading consumer in the ice cream market in the Asia-Pacific region. China has enjoyed the benefits of an expanding market for production and distribution, which has led the ice cream industry to grow. With the rising demand for frozen snacks among the millennial population, the Chinese ice cream market is expected to witness significant growth.
- The majority of these consumers opt for frozen desserts as meal replacements. Further, hectic lifestyles, coupled with health and wellness concerns, are driving the demand for ice cream in the country. Further, a growing preference for natural, less processed, and convenient food and an increasing focus on low-calorie ice creams are enabling companies to tap into the growth potential of the market.
- An increase in population in the country demands more production of ice creams, which could also boost the Chinese ice cream market.
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