India, Indonesia, and Vietnam- among the growing markets for Ice Cream, shifting the dominance from Western markets to the East in recent years.
China is currently the world biggest ice cream market with sales estimated at 4.3 billion liters, followed by the US (2.7 billion liters) and Japan (756 million liters) in 2016. Global ice cream market was expected to garner sales of about 13 billion liters in 2016 with India, Indonesia and Vietnam among the world fastest growing markets. (Asia Food Journal, 2017). With the East’s love of ice cream thickening, one in three (32%) new ice cream products were launched in Asia Pacific in 2016, up from 26% in 2013 (foodnavigator-asia.com, 2017).
Consumer interest in the ice cream is heating up like the temperatures around the world with new innovative offerings and increasing purchasing power! Norwegian consumers were the biggest ice cream consumers, consuming 9.8 liters per capita in 2016. However, in 2018, the top three positions now belong to New Zealand (28.4 liters), USA (20.8 liters) and Australia (18 liters) (foodnavigator-asia.com, 2017). The shift in consumption occasions redefines the ice cream market. Ice cream is no longer an alternative to a cooling drink, but an indulgent treat that can bring a sense of enjoyment and happiness.
Some emerging trends in the ice cream industry and consumers interest to jump on the wagon for:
1) Ice Cream Trend 1- Snackification- “on the go” products, single serving, bars and sandwiches types, such as “ice cream “slices.
2) Ice Cream Trend 2- Premiumization-must taste and feel like an indulgence, with more inclusions such as chocolate pieces, layers of flavor and /or toppings.
3) Ice Cream Trend 3- Healthy-ish-as a “permissible indulgence” (taste good and yet healthy), the addition of probiotics, removal of sugar, fat, dairy, sodium, gluten, and unnatural ingredients
4) Ice Cream Trend 4- Fun Flavors- Sweet and savory, eg crab, blue cheese flavors, innovative regional and seasonal flavors
5) Ice Cream Trend 5-Novel- Novelty, photogenic (Instagramable), unusual textures
(Kerry.com, 2018)
With the global ice cream industry growing at a projected estimate of a global CAGR of over 4 % and annual sales growing to 80 -90 billion in the next 5-7 years, manufacturers are staying competitive through experimentation with formats and ingredients, and Aalst Chocolate being a chocolate ingredient manufacturer is following closely to match, develop and offer customizable products to ice cream manufacturers in order to create their own unique options. Take this opportunity to tap into this ever-growing market and boost your product offerings and expand into new markets!
Aalst Chocolate now offers a wide range of ice cream application products for coating, spraying, and inclusions to cater to the market demand. Our fully equipped R&D laboratories in Singapore and Shanghai are constantly updated with local market inputs from our sales and development team and provide strong technical support and expertise to customize products based on your requirement. New products being developed and added include
:• Flavored and Colored
• All-Natural Ingredients
• Single Origins/Specialty
• No Sugar/Vegan
• Chips/Chunks/Cookie/Chocolate Crumbs/Batons
• Chocolate Powder
Please feel free to contact us on +65 6863 2626 or at sales@aalstwilmar.com if you require any further information.
Bibliography:
Asia Food Journal. (2017). Ice cream whips up global sales of 13 billion liters in 2016 - Asia Food Journal. [online] Available at: https://www.asiafoodjournal.com/2017/07/ice-cream-global-sales-13-billion/ [Accessed 23 Apr. 2019]. Kerry.com. (2018).
The State of the Global Ice Cream Market. [online] Available at: https://kerry.com/uk-en/insights/kerrydigest/2018/the-state-of-the-global-ice-cream-market [Accessed 23 Apr. 2019].foodnavigator-asia.com. (2017).
Asia scoops ice cream growth boost as West turns to East for flavours. [online] Available at: https://www.foodnavigator-asia.com/Article/2017/07/11/Asia-scoops-ice-cream-growth-boost-as-West-turns-to-East-for-flavours [Accessed 23 Apr. 2019].