South Korea Ice Cream Market Research Report, 2029

The South Korean ice cream market stands as a vibrant and dynamic landscape, where frozen delights transcend mere desserts to become innovative and culturally influenced treats. Renowned for its diverse and inventive flavours, the market caters to a consumer base that seeks both traditional favourites and unique, locally-inspired creations. South Korea's rich culinary heritage finds expression in its ice cream offerings, with flavours often drawing inspiration from popular Korean snacks, desserts, and beverages. The market is characterised by a keen emphasis on aesthetics, with ice cream brands showcasing visually appealing products, unique shapes, and colourful packaging. The trends in South Korea reflect a fusion of tradition and modernity, with a growing inclination towards premium and artisanal ice creams made from high-quality, natural ingredients. Innovations in formats, such as creatively shaped cones and bars, add an element of novelty to the consumer experience. Furthermore, the market responds to health-conscious demands, with an increasing availability of ice cream options catering to reduced sugar and lower fat preferences. Whether enjoyed in the bustling streets as part of the vibrant street food culture or discovered in the aisles of convenience stores, the South Korean ice cream market captivates consumers with its fusion of flavours, cultural influences, and a commitment to visual appeal, making it an integral part of the country's culinary landscape. According to the research report "South Korea Ice Cream Market Research Report, 2029," published by Actual Market Research, the South Korea Ice Cream market is anticipated to grow at more than 6% CAGR from 2024 to 2029. Ongoing innovation in flavours is a significant driver. Consumers are attracted to unique and diverse flavour options, including exotic blends, seasonal variations, and innovative combinations that keep the ice cream market dynamic and appealing. As health-conscious trends gain prominence, there is a demand for healthier ice cream options. Products with reduced sugar, lower fat content, and the incorporation of natural ingredients align with consumers' preferences for better-for-you treats. The convenience of on-the-go consumption is a key driver. Single-serving options, handheld formats like cones and bars, and portable packaging cater to consumers looking for convenient and easily accessible ice cream options. Seasonal variations and limited-edition releases create a sense of excitement and drive consumer interest. Manufacturers often introduce special flavours tied to specific seasons or events, encouraging repeat purchases. Cultural preferences and influences impact flavour choices and product offerings. Ice cream inspired by local or global culinary traditions, as well as cultural events and celebrations, resonates with consumers and drives demand. Furthermore, the influence of social media and food trends plays a role in driving demand. Consumers are often influenced by visually appealing and trending ice cream creations shared on platforms like Instagram, leading to increased curiosity and purchases. Ice cream consumption tends to rise during warmer seasons. The refreshing and cooling nature of ice cream makes it a sought-after treat, particularly in regions with hot climates, contributing to seasonal spikes in demand.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Based on the product types, Impulse Ice Cream, Artisanal Ice Cream, and Take Home Ice Cream are among them in South Korea. Artisanal Ice Cream is growing in demand, and South Korean consumers increasingly value premium and high-quality food products. Artisanal ice cream, crafted with care and often using locally sourced or unique ingredients, caters to this demand for superior quality and distinctive flavors. There is a cultural appreciation for craftsmanship and artisanal products in South Korea. Consumers are drawn to the narrative of handcrafted ice cream made by skilled artisans, and this emphasis on craftsmanship enhances the perceived value of the product. South Korea's vibrant culinary scene, coupled with a growing interest in experiential dining, contributes to the success of artisanal ice cream shops. Consumers view these establishments as destinations where they can indulge in unique and memorable ice cream experiences. In terms of flavour types, they are segmented into Vanilla, Chocolate, Fruit, Tutti Frutti, Blends, and others. In the country, fruit-based ice cream is significantly contributing to the ice cream market; South Korean consumers are increasingly prioritising health and wellness. Fruit-based ice cream flavours are perceived as a healthier alternative to traditional options, as they often contain natural fruit extracts, vitamins, and antioxidants, appealing to individuals seeking better-for-you dessert options. South Korea has a cultural affinity for fruits, which are often enjoyed as snacks or desserts. Incorporating familiar and beloved fruits into ice cream resonates with consumers, offering a fusion of traditional flavours with a modern and frozen twist. According to the report, the packaging types are segmented into sticks and bars, cones and cups, tubs and bricks, and others; among them, tubs and bricks are growing as packaging types. The single-serve nature of tube and brick packaging aligns with the trend towards portion control and health-conscious eating. Consumers perceive these formats as offering a controlled and reasonable amount of ice cream. Tube and brick packaging allow for versatility in presenting a variety of flavours and ingredients. Manufacturers can experiment with different combinations and cater to evolving consumer tastes by offering diverse options within these packaging formats. Based on the distribution channel, which includes supermarkets and hypermarkets, convenience stores, ice cream parlours, online sales channels, and others, in the country convenience stores are a growing market. South Korea's fast-paced and on-the-go lifestyle has led to an increased preference for quick and convenient food options. Ice cream is well-suited for on-the-go consumption, and convenience stores cater to consumers looking for a convenient and portable dessert. Some convenience stores in South Korea have integrated technology to enhance the shopping experience. This includes mobile apps for ordering and promotions, creating a seamless and convenient process for customers to purchase ice cream. Considered in this report: • Geography: South Korea • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Kripa Shah

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Aspects covered in this report: • South Korea Ice Cream market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Products Types • Impulse Ice Cream • Artisanal Ice Cream • Take Home Ice Cream By Flavours Types: • Vanilla • Chocolate • Fruit • Tutti Frutti • Blends • Others

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By Distribution Channel: • Supermarkets and Hypermarkets • Convenience Stores • Ice cream Parlor • Online Sales Channel • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Ice Cream, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.