Southern Asia: Ice Cream Market 2024

Ice Cream Market Size in Southern Asia

The South Asian ice cream market rose modestly to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Ice Cream Production in Southern Asia

In value terms, ice cream production amounted to $X in 2023 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Ice Cream Exports

Exports in Southern Asia

For the third year in a row, Southern Asia recorded growth in shipments abroad of ice cream, which increased by X% to X tons in 2023. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, ice cream exports rose modestly to $X in 2023. Over the period under review, exports saw a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure in 2023 and are likely to see steady growth in the near future.

Exports by Country

India was the main exporter of ice cream in Southern Asia, with the volume of exports recording X tons, which was near X% of total exports in 2023. It was distantly followed by Sri Lanka (X tons), making up a X% share of total exports. Pakistan (X tons) took a minor share of total exports.

India was also the fastest-growing in terms of the ice cream exports, with a CAGR of X% from 2012 to 2023. At the same time, Sri Lanka (X%) displayed positive paces of growth. By contrast, Pakistan (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total exports, while Pakistan and Sri Lanka saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, India ($X) remains the largest ice cream supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports.

In India, ice cream exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Sri Lanka (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, flattening at the previous year. Export price indicated notable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ice cream export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was India ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the other leaders experienced more modest paces of growth.

Ice Cream Imports

Imports in Southern Asia

In 2023, purchases abroad of ice cream increased by X% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated a strong expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in the immediate term.

In value terms, ice cream imports declined slightly to $X in 2023. Over the period under review, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2022, and then contracted in the following year.

Imports by Country

Maldives (X tons) and India (X tons) were the major importers of ice cream in 2023, finishing at approx. X% and X% of total imports, respectively. Nepal (X tons) took the next position in the ranking, followed by Pakistan (X tons) and Bhutan (X tons). All these countries together took approx. X% share of total imports. Afghanistan (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Pakistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ice cream importing markets in Southern Asia were India ($X), Maldives ($X) and Nepal ($X), with a combined X% share of total imports. Pakistan, Bhutan and Afghanistan lagged somewhat behind, together accounting for a further X%.

Pakistan, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, approximately equating the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while Bhutan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nepal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform