What you need to know

The domestic ice cream market has been consistently growing in market value while volume sales have been steadily declining. Value sales are estimated to grow at a CAGR of 5.2% to reach RMB 100.5 billion in 2024 and volume sales will grow at a CAGR of -2.6% to reach 1,748,900 tonnes in 2024.

Up-and-coming brands take on a premium and trendy strategy to chip away at the value shares of traditional leaders but their sales volume remains small. This is partly aided by the expansions of cold-chain logistics which promotes the growth of online sales channels, lowering the barrier to entry for newcomers.

Consumer preference is diverging towards traditional and budget-friendly classics and high-end disruptors which innovate in brand story, route-to-consumer, ingredients, and flavours. These innovations will push ice cream towards becoming a more common dessert option and not only considered for hot summer days. Young consumers will lead this change as they routinely sample new brands and products.

Covered in this report

The market size covers all packaged ice cream, sorbets and water ices in individually wrapped and multipack format. Popsicles, bricks, sandwiches, cups, tubs, and buckets are included. Frozen yogurt is also included.

The market value and volume comprise sales through all retail channels including direct to consumer.

Excluded

Unwrapped items eg ice cream in cones; scoops (out of tub) at ice cream parlours; desserts eg frozen cakes.

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