Market Dynamics
China's ice cream market is experiencing considerable growth in 2018. The Chinese ice cream consumption level has been on the rise, with consumers increasingly turning to locally-produced products and imported brands. According to figures from the National Bureau of Statistics of China, the total retail sales of ice creams increased 13.9% in 2017 and further grew 6.2% in 2018 - a trend which is expected to continue.The rise in ice cream consumption can be attributed to a range of different factors. Increased disposable income, an urbanising population and a burgeoning middle class are all driving demand for the convenience-based snack food. Additionally, the entry and expansion of a number of global brands into the Chinese market has helped to raise the popularity of the product and encouraged higher consumption.In terms of current trends, the most popular flavours in China are traditional flavours such as green tea, mango, strawberry and chocolate. With the rise of premium ice creams in China, the market is moving to focus on more impressive packaging and bolder flavours, that reflects strong Chinese roots.
This is expected to drive market growth over the next 10 to 15 years as consumers become more experimental with their choice of flavours and are willing to pay more for premium products.The Chinese ice cream market is showing no sign of slowing down and is expected to continue growing. To tap into this trend, manufacturers will need to continue to innovate in terms of both design and flavours, offering consumers something new with each experience. Furthermore, product customization is also expected to drive demand in the market moving forward, with customers able to choose from a range of different options.Overall, the Chinese ice cream market remains immensely promising and is expected to grow substantially over the next decade or so. With the right strategies, manufacturers can tap into the lucrative market and benefit from such immense growth.
