The APAC ice cream market is expected to grow from US$ 27,289.30 million in 2022 to US$ 37,290.76 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2022 to 2028.

Veganism has gained significant momentum in recent years. Consumers are highly inclined toward plant-based products as they perceive them to be healthier than conventional products. Further, increasing awareness regarding animal protection and environment sustainability increase the popularity of vegan food products. The proliferation of veganism among people is highly influencing innovations in the ice cream market. Veganuary, a nonprofit organization, encourages people to become vegan for the whole month of January. Registrations for the Veganuary Campaign have increased dramatically over the past few years. Thus, due to the flourishing trend of veganism, ice cream manufacturers are launching plant-based products. Vegan ice creams help improve digestion, strengthen the functioning of the immunity system, and improve blood pressure. Therefore, the growing inclination toward plant-based food products due to the growing popularity of veganism is expected to bring new trends to the ice cream market during the forecast period.

Vendors in the ice cream market can attract new customers and expand their footprints in emerging markets by offering products with new features and technologies. This factor is likely to drive the APAC ice cream market at a good CAGR during the forecast period.

APAC Ice Cream Market Revenue and Forecast to 2028 (US$ Million)

APAC Ice Cream Market Segmentation

The APAC ice cream market is segmented on the basis of flavor, category, form, distribution channel, and country. Based on flavor, the market is segmented into vanilla, chocolate, fruit, and others. The chocolate segment dominated the market in 2022 and is expected to register the highest CAGR during forecast period. Based on category, the market is segmented into conventional and sugar free. The conventional segment dominated the market in 2022 and sugar free segment is expected to register the highest CAGR during the forecast period. Based on form, the APAC ice cream market is segmented into cups & tubs, bars & sticks, and others. The cups & tubs segment dominated the market in 2022, and the bars & sticks segment is expected to register the highest CAGR during the forecast period. Based on distribution channel, the APAC ice cream market is segmented into supermarkets and hypermarkets, specialty store, online retail, and others. The supermarkets and hypermarkets segment dominated the market in 2022, and the online retail segment is expected to register the highest CAGR during the forecast period. Based on country, the APAC ice cream market is segmented into China, Japan, India, Australia, South Korea, and Rest of APAC.

General Mills Inc.; Inspire Brands, Inc.; Lotte Confectionery Co., Ltd.; Mars, Incorporated; Nestlé S.A.; and Unilever are among the leading companies in the APAC ice cream market.

TABLE OF CONTENTS

1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
4. APAC Ice Cream Market Overview
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
5. APAC Ice Cream Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 High Demand for Frozen Desserts
5.1.2 Innovative Flavors and Loaded Indulgence
5.2 Market Restraints
5.2.1 Health Problems Associated with Ice Cream
5.3 Market Opportunities
5.3.1 Rising Popularity of Functional Ice Cream
5.4 Future Trends
5.4.1 Increasing Trend of Consuming Dairy-Free and Vegan Ice Cream
5.5 Impact Analysis of Drivers and Restraints
6. Ice Cream Market – APAC Market Analysis
6.1 APAC Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
7. APAC Ice Cream Market Analysis – By Flavor
7.1 Overview
7.2 APAC Ice Cream Market, By Flavor (2021 and 2028)
7.3 Vanilla
7.3.1 Overview
7.3.2 Vanilla: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Chocolate
7.4.1 Overview
7.4.2 Chocolate: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Fruit:
7.5.1 Overview
7.5.2 Fruit: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Ice Cream Market– Revenue and Forecast to 2028 (US$ Million)
8. APAC Ice Cream Market Analysis – By Category
8.1 Overview
8.2 APAC Ice Cream Market, By Category (2021 and 2028)
8.3 Conventional
8.3.1 Overview
8.3.2 Conventional: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Sugar Free
8.4.1 Overview
8.4.2 Sugar Free: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Ice Cream Market Analysis – By Form
9.1 Overview
9.2 APAC Ice Cream Market, By Form (2021 and 2028)
9.3 Cups and Tubs
9.3.1 Overview
9.3.2 Cups and Tubs: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Bars and Sticks
9.4.1 Overview
9.4.2 Bars and Sticks: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10. APAC Ice Cream Market Analysis – By Distribution Channel
10.1 Overview
10.2 APAC Ice Cream Market, By Distribution Channel (2021 and 2028)
10.3 Supermarkets and Hypermarkets
10.3.1 Overview
10.3.2 Supermarkets and Hypermarkets: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Specialty Stores
10.4.1 Overview
10.4.2 Specialty Stores: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Online Retail
10.5.1 Overview
10.5.2 Online Retail: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
11. APAC Ice Cream Market – Country Analysis
11.1 Overview
11.1.1 Asia Pacific: Ice Cream Market, by Key Country
11.1.1.1 China: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 China: Ice Cream Market, By Flavor
11.1.1.1.2 China: Ice Cream Market, by Category
11.1.1.1.3 China: Ice Cream Market, By Form
11.1.1.1.4 China: Ice Cream Market, by Distribution Channel
11.1.1.2 Japan: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Japan: Ice Cream Market, By Flavor
11.1.1.2.2 Japan: Ice Cream Market, by Category
11.1.1.2.3 Japan: Ice Cream Market, By Form
11.1.1.2.4 Japan: Ice Cream Market, by Distribution Channel
11.1.1.3 India: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 India: Ice Cream Market, by Flavor
11.1.1.3.2 India: Ice Cream Market, by Category
11.1.1.3.3 India: Ice Cream Market, by Form
11.1.1.3.4 India: Ice Cream Market, by Distribution Channel
11.1.1.4 Australia: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Australia: Ice Cream Market, By Flavor
11.1.1.4.2 Australia: Ice Cream Market, by Category
11.1.1.4.3 Australia: Ice Cream Market, By Form
11.1.1.4.4 Australia: Ice Cream Market, by Distribution Channel
11.1.1.5 South Korea: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 South Korea: Ice Cream Market, By Flavor
11.1.1.5.2 South Korea: Ice Cream Market, by Category
11.1.1.5.3 South Korea: Ice Cream Market, By Form
11.1.1.5.4 South Korea: Ice Cream Market, by Distribution Channel
11.1.1.6 Rest of Asia Pacific: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of Asia Pacific: Ice Cream Market, By Flavor
11.1.1.6.2 Rest of Asia Pacific: Ice Cream Market, by Category
11.1.1.6.3 Rest of Asia Pacific: Ice Cream Market, By Form
11.1.1.6.4 Rest of Asia Pacific: Ice Cream Market, by Distribution Channel
12. Company Profiles
12.1 Unilever
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Nestlé S.A.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 General Mills Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Mars, Incorporated
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Lotte Confectionery Co., Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Inspire Brands, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index

LIST OF TABLES

Table 1.             APAC Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
Table 2.             China Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 3.             China Ice Cream Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 4.             China Ice Cream Market, By Form – Revenue and Forecast to 2028 (US$ Million)
Table 5.             China Ice Cream Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 6.             Japan Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 7.             Japan Ice Cream Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 8.             Japan Ice Cream Market, By Form – Revenue and Forecast to 2028 (US$ Million)
Table 9.             Japan Ice Cream Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 10.          India Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 11.          India Ice Cream Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 12.          India Ice Cream Market, By Form – Revenue and Forecast to 2028 (US$ Million)
Table 13.          India Ice Cream Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 14.          Australia Ice Cream Market, By Flavor– Revenue and Forecast to 2028 (US$ Million)
Table 15.          Australia Ice Cream Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 16.          Australia Ice Cream Market, By Form– Revenue and Forecast to 2028 (US$ Million)
Table 17.          Australia Ice Cream Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 18.          South Korea Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 19.          South Korea Ice Cream Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 20.          South Korea Ice Cream Market, By Form – Revenue and Forecast to 2028 (US$ Million)
Table 21.          South Korea Ice Cream Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 22.          Rest of Asia Pacific Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 23.          Rest of Asia Pacific Ice Cream Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 24.          Rest of Asia Pacific Ice Cream Market, By Form – Revenue and Forecast to 2028 (US$ Million)
Table 25.          Rest of Asia Pacific Ice Cream Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 26.          List of Abbreviation
 
 

LIST OF FIGURES

Figure 1.           APAC Ice Cream Market Segmentation
Figure 2.           APAC Ice Cream Market Segmentation – By Country
Figure 3.           APAC Ice Cream Market Overview
Figure 4.           APAC Ice Cream Market: By Flavor
Figure 5.           APAC Ice Cream Market: By Country
Figure 6.           Porter’s Five Forces Analysis: Ice Cream Market
Figure 7.           Expert Opinion
Figure 8.           APAC Ice Cream Market Impact Analysis of Drivers and Restraints
Figure 9.           APAC: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10.        APAC Ice Cream Market Revenue Share, By Flavor (2021 and 2028)
Figure 11.        APAC Vanilla: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 12.        APAC Chocolate: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 13.        APAC Fruit: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14.        APAC Others: Ice Cream Market– Revenue and Forecast To 2028 (US$ Million)
Figure 15.        APAC Ice Cream Market Revenue Share, By Category (2021 and 2028)
Figure 16.        APAC Conventional: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 17.        APAC Sugar Free: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18.        APAC Ice Cream Market Revenue Share, By Form (2021 and 2028)
Figure 19.        APAC Cups and Tubs: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 20.        APAC Bars and Sticks: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 21.        APAC Others: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 22.        APAC Ice Cream Market Revenue Share, By Distribution Channel (2021 and 2028)
Figure 23.        APAC Supermarkets and Hypermarkets: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 24.        APAC Specialty Stores: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25.        APAC Online Retail: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 26.        APAC Others: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 27.        APAC Ice Cream Market, by Key Country – Revenue (2021) (US$ Million)
Figure 28.        Asia Pacific: Ice Cream Market Revenue Share, by Key Country (2021 and 2028)
Figure 29.        China: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
Figure 30.        Japan: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31.        India: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
Figure 32.        Australia: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
Figure 33.        South Korea: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
Figure 34.        Rest of Asia Pacific: Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC ice cream market.
● Highlights key business priorities in order to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in the APAC ice cream market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the ice cream market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

The List of Companies – Asia-Pacific Ice Cream Market

● Inspire Brands, Inc.
● Lotte Confectionery Co., Ltd.
● Mars, Incorporated
● Nestlé S.A.
● Unilever

At 5.3% CAGR, the APAC Ice Cream Market is speculated to be worth US$ 37,290.76 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the APAC ice cream market was valued at US$ 27,289.30 million in 2022 and is expected to reach US$ 37,290.76 million by 2028, registering an annual growth rate of 5.3% from 2022 to 2028. Rising popularity of functional ice cream and increasing trend of consuming dairy-free and vegan ice cream are the critical factors attributed to the market expansion.

Functional ice cream has become a popular product among health-conscious consumers due to the presence of high-quality ingredients, and it fulfills consumers’ nutritional requirements more than regular ice cream. Traditional ice cream contains nutritional properties and various health benefits. So, the increasing interest of ice cream manufacturers in fortification and the addition of functional ingredients may influence the consumer’s decision to select a healthy alternative. Beyond basic nutrition, functional food provides advantages that can help lower or prevent the risk of certain diseases. Moreover, sugar-free, low-fat functional ice creams are gaining huge popularity due to their health benefits. The COVID-19 pandemic further influenced the demand for functional ice cream, and manufacturers are taking advantage of this opportunity. Low-sugar and high-protein ice cream have become especially popular with athletes and consumers looking for non-staple food and beverage products with better nutritional content. The popularity of functional ice cream is majorly driven by product innovations, especially in terms of taste profile and nutritional value. The rise in demand for functional ice cream is expected to create lucrative growth opportunities in the ice cream market across the region.

On the contrary, health problems associated with ice cream hurdles the growth of APAC ice cream market.

Based on flavor, the APAC ice cream market is segmented into vanilla, chocolate, fruit, and others. The chocolate segment held 35.9% market share in 2022, amassing US$ 9,790.93 million. It is projected to garner US$ 13,148.75 million by 2028 to expand at 5.0% CAGR during 2022–2028.

Based on category, the APAC ice cream market is segmented into conventional and sugar free. The conventional segment held 93.5% market share in 2022, amassing US$ 25,502.84 million. It is projected to garner US$ 34,799.44 million by 2028 to expand at 3.6% CAGR during 2022–2028.

Based on form, the APAC ice cream market is segmented into cups & tubs, bars & sticks, and others. The cups & tubs segment held 53.6% market share in 2022, amassing US$ 14,629.49 million. It is projected to garner US$ 19,747.36 million by 2028 to expand at 5.1% CAGR during 2022–2028.

Based on distribution channel, the APAC ice cream market is segmented into supermarkets and hypermarkets, specialty store, online retail, and others. The supermarkets and hypermarkets segment held 64.9% market share in 2022, amassing US$ 17,708.43 million. It is projected to garner US$ 24,017.75 million by 2028 to expand at 5.2% CAGR during 2022–2028.

Based on country, the APAC ice cream market is segmented into China, Japan, India, Australia, South Korea, and Rest of APAC. Our regional analysis states that Rest of APAC captured 42.5% market share in 2022. It was assessed at US$ 11,593.47 million in 2022 and is likely to hit US$ 15,280.60 million by 2028, exhibiting a CAGR of 4.7% during the forecast period.

Key players dominating the APAC ice cream hmarket are General Mills Inc.; Inspire Brands, Inc.; Lotte Confectionery Co., Ltd.; Mars, Incorporated; Nestlé S.A.; and Unilever among others.