Vietnam Ice Cream Market to Reach USD 245 Million by 2030, Growing at a CAGR of 6.2%

The Vietnam Ice Cream Market is poised for significant growth, transitioning from an estimated market size of USD 180 million in 2024 to a projected USD 245 million by 2030. With a compound annual growth rate (CAGR) of around 6.2%, the sector is gaining traction driven by Vietnam's warm climate, increasing disposable income, and evolving consumer preferences that favor artisanal and exotic flavors. The booming tourism industry is further fueling this growth, as local and foreign tourists seek refreshing and unique ice cream experiences. Local players are innovating continuously, introducing various flavors that cater to both traditional Vietnamese tastes and modern preferences, enhancing the overall quality and appeal of the product offerings in the Vietnam Ice Cream Market.

Vietnam Ice Cream Market Forecast

• The Vietnam Ice Cream Market is anticipated to grow from USD 180 million in 2024 to USD 245 million by 2030.

• Impulse ice cream, particularly single-portion options, is expected to sustain a higher CAGR of 9.5% during the forecast period.

• Approximately 40 million liters of ice cream are consumed annually in Vietnam, reflecting strong demand.

• Kido Group is leading the market with over 45% market share, showcasing its dominance and strategic positioning in the Vietnam Ice Cream Market.

• The retail offline channel is expected to maintain its position as the major distribution channel, accounting for approximately 95% of total sales in the Vietnam Ice Cream Market.

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Vietnam Ice Cream Industry Competitive Landscape

The competitive landscape of the Vietnam Ice Cream Market is characterized by several key players driving innovation and market share through new product offerings and strategic partnerships. Notable companies include:

• Kido Group

• Aice Yummy Vietnam Co. Ltd.

• Unilever Vietnam International Co. Ltd.

• Vietnam Dairy Products JSC (Vinamilk)

• Trang Tien Service & Trading Co. Ltd.

• Nestlé Vietnam Co. Ltd.

• TNC Consumer Goods JSC

• Phan Nam Monterosa Trading JSC

• Thuy Ta JSC

• Others

These companies are not just players but are innovators in the sector, responding to changing consumer demands and trends within the Vietnam Ice Cream Market.

Key Takeaways from the Vietnam Ice Cream Market Report

The Vietnam Ice Cream Market is on an upward trajectory, supported by rising disposable incomes and a hot climate that drives ice cream consumption year-round. Innovative product offerings incorporating traditional flavors and e-commerce strategies are opening new avenues for growth. Price sensitivity remains a challenge but is being addressed through diversified product ranges aimed at various consumer segments.

Industry Recent Development

In 2024, Kido Group introduced a new line of ice creams that blends traditional Vietnamese flavors with contemporary tastes, exemplifying the trend towards innovation within the Vietnam Ice Cream Market. The launch included unique flavors such as black sugar pearl and strawberry yogurt, which reflect consumer demand for exciting and diverse flavor experiences.

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Industry Segmentation

By Category

> Impulse Ice Cream

>> Single Portion Dairy Ice Cream

>> Single Portion Water Ice Cream

> Take-Home Ice Cream

>> Take-Home Dairy Ice Cream

>>> Bulk Dairy Ice Cream

>>> Multi-Pack Dairy Ice Cream

> Artisanal Ice Cream

By Leading Flavors

> Vanilla

> Chocolate

> Strawberry

> Coconut

> Banana

> Green Tea

> Mango

> Durian

> Raisin

> Lemon

By Format

> Cup

> Stick

> Cone

> Brick

> Others (Sandwich, Tub, etc.)

By Sales Channel

> Retail Offline

> Grocery Retailers

>> Convenience Retailers

>>> Convenience Stores

>>>> Supermarkets

>>> Hypermarkets

>>> Small Local Grocers

> Retail E-Commerce

By Region

> Northern

> Southern

> Central

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Frequently Asked Questions (FAQs)

• What is the expected growth rate of the Vietnam Ice Cream Market?

• Which company currently holds the largest market share in the Vietnam Ice Cream Market?

• What are the main categories of ice cream consumed in the Vietnam Ice Cream Market?

• How does the tourism industry impact the Vietnam Ice Cream Market?

• What challenges do companies face in the Vietnam Ice Cream Market?

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Other Report:

• Global Sugar-Free Ice Cream Market is anticipated to grow at a CAGR of around 8.9% during the forecast period, i.e., 2023-28. [Browse Report Details, Here! https://www.marknteladvisors.com/research-library/sugar-free-ice-cream-market.html ]

• Saudi Arabia Ice Cream Market size was valued at around USD 551.7 million in 2022 and is estimated to grow at a CAGR of about 7.50% during the forecast period, i.e., 2024-29. [Browse Report Details, Here! https://www.marknteladvisors.com/research-library/saudi-arabia-ice-cream-market.html ]

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