Philippines Ice Cream & Frozen Desserts Market Overview:
Ice cream is a frozen dairy food made from milk or cream and is flavored with a sweetener. Frozen desserts are defined as foods that are made by freezing semi-solids, liquids and sometimes even solids. They are based on fruit purees, flavored water, mousse. These products are loved for their creamy texture, refreshing taste, and ability to be customized with various mix-ins and toppings. These treats are consumed as standalone desserts, in cones or cups or as accompaniments to other desserts. The ice cream and frozen dessert market has experienced significant market growth over the past few years.
As per latest study released by AMA Research, the Philippines Ice Cream & Frozen Desserts market is expected to see growth rate of 6.1% and may see market size of USD140.0 Billion by 2030.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Consumers are Seeking Healthier Alternatives.
Market Growth Drivers:
Growth in Modern Retail Channels
Challenges:
High Competition among Established Players and Low Quality Products Offered by Local Players
Restraints:
Availability of Alternative Deserts and Availability of cheaper substitutes in Ice Cream & Frozen Desserts
Opportunities:
The Frozen Yogurt Market Has Been Growing in The Philippines
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Baskin-Robbins (United States), Magnolia (United States), Selecta (Philippines), Froneri Lux Topco S.à r.l. (Luxembourg), Nestle (Switzerland), Havmor (India), Arce Dairy (Philippines), Fruits in Ice Cream (FIC) (Philippines), Carmen's Best (Philippines), Gelato Manila (Philippines), Sebastian's Ice Cream (Philippines), The Lost Bread (Philippines) and Merry Moo (Philippines). Analyst at AMA Research see Philippines Vendors to retain maximum share of Philippines Ice Cream & Frozen Desserts market by 2030. Considering Market by Consumer Preference, the sub-segment i.e. Gluten-Free will boost the Ice Cream & Frozen Desserts market. Considering Market by Distribution Channel , the sub-segment i.e. Supermarkets/Hypermarket will boost the Ice Cream & Frozen Desserts market. Considering Market by Category, the sub-segment i.e. Non-Dairy Based will boost the Ice Cream & Frozen Desserts market. Considering Market by Flavours, the sub-segment i.e. Strawberry will boost the Ice Cream & Frozen Desserts market.
Latest Market Insights:
In December 2023, Magnolia Ice Cream partners with Jollibee Foods Corporation, this collaboration aims to expand Magnolia's reach through Jollibee's extensive store network and introduce new ice cream flavors inspired by Jollibee's popular menu items.
In November 2023, Ben & Jerry's introduced a new limited-edition flavor in partnership with WWF-Philippines, featuring swirls of caramel and chocolate ice cream with caramel cookie chunks and fudge swirls, dedicated to raising awareness about environmental conservation.
What Can be Explored with the Ice Cream & Frozen Desserts Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Philippines Ice Cream & Frozen Desserts Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Ice Cream & Frozen Desserts
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Philippines Ice Cream & Frozen Desserts market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Ice Cream & Frozen Desserts market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturer, Suppliers & Distributers, New Entrance, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.