Asia Pacific Frozen Desserts Market is projected to grow at a CAGR of 4.5% during the forecast period 2020-2025.
- The growing demand for frozen desserts has led to significant growth in the total number of ice creams and frozen dessert retail shops across the Asia-Pacific region. Furthermore, the frozen dessert is bound to achieve great success in the Chinese market, as the increasing demand for low-fat healthy food will likely encourage people to spend more on these products.
- Moreover, the increasing product visibility, functional claims, clean label ingredients, and rising consumption during winters can be accredited to the increment of demand for more frozen desserts, including ice creams, cakes, etc., which, in turn, fortifies, the regions market share.
Key Market Trends
Increasing Preference Toward Ice-cream Parlors in the Developing Countries
Ice-cream parlors in countries like India and China are slowly and strategically placing their parlors on the busy roads, small market places, and moreover are placed in those areas where college students or the millennial population is highly concentrated. The planned setups of these parlors are expected to increase the consumption of ice cream and other frozen desserts via this distribution channel. Furthermore, ice cream parlors are increasingly leveraging the marketing of their parlors in social media sites like Facebook, Instagram, and Twitter to keep people updated about the new product offering, offers, and attract "followers“ to increase more footprints in their parlors. Moreover, running special deals on their website with coupons that consumers can print out and bring in to redeem. These promotional activities are expected to create the opportunity for the popularity of ice cream parlors in the developing countries of the region.
China Holds the Largest Market Share
Frozen desserts market is bound to achieve great success in the Chinese market, as the increasing demand for low-fat frozen yogurt, healthy food will likely encourage people to spend more on these products. The rising income level of consumers, drastic development of manufacturing capabilities, premiumization trend in the country, and increasing adoption of premium products among consumers are projected to cater to the increasing demand for frozen desserts in China. Furthermore, the growth of specialized brands, like Yili Chocliz, Mengniu Ice, Cornetto, Magnum, and others has been a key factor for the growth of this market in China. These brands are responding to augmenting health consciousness among consumers with the launch of mini sticks and other products with more flavors and new attractive packaging, which in turn, boosting the frozen desserts sale in the country.
The major strategies adopted by the companies operating in the Asia Pacific frozen desserts market are new product launches, partnerships, expansions, and mergers/acquisitions. Major players are focusing on introducing new products in the market to cater to the interests of the consumers. New product development is the most preferred strategy in the frozen dessert market in the region. Some of the major players in the market studied are Mother Dairy Fruit & Vegetable Pvt Ltd, Yili Group, Nestle S.A, Unilever among others.
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1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.1 Frozen Yogurt
5.1.2 Ice Cream
220.127.116.11 Artisanal Ice Cream
18.104.22.168 Dairy-based Ice Cream
22.214.171.124 Water-based Ice Cream
5.1.3 Frozen Cakes
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Speciality Stores
5.2.4 Online Retailer
5.3 By Geography
5.3.5 Rest of Asia-Pacific
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Mother Dairy Fruit & Vegetable Pvt Ltd
6.4.2 Nestle S.A
6.4.3 Yili Group
6.4.4 Meiji Holdings Co., Ltd.
6.4.5 Dunkin' Brands Group, Inc
6.4.7 Blue Bell Creameries LP
6.4.8 Ben & Jerry's Homemade Holdings Inc
A selection of companies mentioned in this report includes:
- Mother Dairy Fruit & Vegetable Pvt Ltd
- Nestle S.A
- Yili Group
- Meiji Holdings Co., Ltd.
- Dunkin' Brands Group, Inc
- Blue Bell Creameries LP
- Ben & Jerry's Homemade Holdings Inc