China: Ice Cream Market 2023

Ice Cream Market Size in China

The Chinese ice cream market reached $X in 2021, picking up by 4.4% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Ice Cream Production in China

In value terms, ice cream production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 16% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Ice Cream Exports

Exports from China

In 2021, overseas shipments of ice cream increased by 11% to X tons, rising for the second year in a row after two years of decline. In general, exports posted a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of 149%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, ice cream exports surged to $X in 2021. Overall, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 108%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Philippines (X tons), Indonesia (X tons) and Australia (X tons) were the main destinations of ice cream exports from China, with a combined 81% share of total exports. Thailand, Hong Kong SAR, South Africa and New Zealand lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +305.2%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) emerged as the key foreign market for ice cream exports from China, comprising 42% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 20% share of total exports. It was followed by Australia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to the Philippines stood at +109.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+152.2% per year) and Australia (+1.9% per year).

Export Prices by Country

In 2021, the average ice cream export price amounted to $X per ton, jumping by 15% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ice Cream Imports

Imports into China

In 2021, imports of ice cream into China soared to X tons, jumping by 21% against the year before. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +9.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 29%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, ice cream imports surged to $X in 2021. Overall, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of ice cream to China, accounting for a 29% share of total imports. Moreover, ice cream imports from France exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), twofold. The third position in this ranking was taken by South Korea (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from France amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+28.8% per year) and South Korea (+4.0% per year).

In value terms, France ($X) constituted the largest supplier of ice cream to China, comprising 34% of total imports. The second position in the ranking was held by New Zealand ($X), with a 13% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from France amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+31.0% per year) and Japan (+99.4% per year).

Import Prices by Country

The average ice cream import price stood at $X per ton in 2021, growing by 9.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 when the average import price increased by 11%. The import price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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