Asia-Pacific Ice Cream Market

Description

Asia-Pacific Ice Cream Market- Industry Analysis, Forecasts and Opportunity Assessment (2017-2022)
The Asia-Pacific Ice-Cream market is currently accounted for US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. The key reason for the anticipated growth is rapid urbanisation, increase in standard of living and a strong supply of milk and dairy products. Creative ideas in terms of flavour, effect and method of preparation are gaining rapid popularity in the market. For instance, a South Korean company invented an ice cream based cure for hangover cure called Gyeondyo-bar (Meaning “hang in there”)

Market Dynamics:

The Ice Cream market itself is often considered to be a fragment of the Milk Business and is heavily dependent on the same. Growing consciousness regarding their effect on health has posed a threat to the market, at the same time, providing an opportunity for innovations like sugar-free or low-fat ice-cream. Rising incomes and an increasingly developed retail infrastructure and cold chain network are driving the growth of the ice cream market in China, which in 2014 has replaced the U.S. to be the leading consumer in the market. Since the successful implementation of ‘Operation Flood’ in the 70s- that caused the White revolution, India has been one of the leading providers of dairy products globally and its role in the Ice Cream consumer market is also increasing rapidly. In other developing nations, lack of freezers and inefficient transport facility has hindered the growth of the market.

Market Segmentation:

The Ice Cream business is highly fragmented due to the presence of many large and small scale vendors, who compete for pricing, distribution and innovation. There is an increasing focus on producing new and varieties of ice cream, like gluten free ice creams and those derived from natural fruit extracts.
On the basis of type, the market is divided into cups, cones, buckets, sticks, sundae, floats and frozen novelties. By sales, it is divided into take-home, impulsive and artisan. Most prominent sectors by type include cups, cones and sticks. On the basis of sale, impulsive has been the largest segment, conventionally.

Geographical Analysis:

China is the current leading consumer in the Ice Cream market. Although throughout the region, the frozen-dessert market is prominent only in China, it has not affected the growth of ice cream market there. However, countries like South Korea have shown a noticeable decline in retail sales of ice cream – the reason being the growing popularity of unpackaged ice cream out of the home at foodservice outlets. This lifestyle change has explicitly affected retail manufacturers, such as Unilever. For the coming decade, in the Asia-Pacific, it is anticipated that China, India and Japan shall continue to be the key players. In China, growth is largely focused on single-serve portions while in Japan, retail stores are expected to grow rapidly.
Key players in the industry include Amul (India), Blue Bell Creameries (U.S.), General Mills (U.S.), Nestle (Swiss), Unilever (British)- to name a few.