Press Release

Vietnam Ice Cream Market to Hit USD 245 Million Mark by 2030 Due to Growing Tourism

The Vietnam Ice Cream Market size was valued at around USD 180 million in 2024 and is projected to reach around USD 245 million by 2030. The market is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The climatic conditions of the country play an anchor role in stimulating the demand for ice cream. In addition, the rising discretionary spending, Gen Z’s traction towards western culture, and rapid urbanization have been contributing significantly to the growing ice cream sales.

The tourism industry is set to emerge as a catalyst to the local ice cream market. The country’s annual tourist footfall exceeded 17.5 million in 2024. As per the country’s tourism strategy, the foreign visitors in the country are anticipated to cross 35 million by 2030.

Moreover, these ice cream players are using online platforms such as TikTok, Grab, Zalo, etc., in order to strengthen their brands and get a huge consumer base. The companies are also innovating new and exotic ice cream flavors, which is boosting consumer demand. Thus, to fulfill this demand, the players introduced flavors such as blueberry, black sugar pearl, etc. Moreover, ice cream is increasingly seen as a snacking option with different flavors in Vietnam. This gradual evolution in consumer perception is also catalyzing the sales of ice cream in the country.

Vietnam is a price-sensitive market. This acts as a key challenge to the market growth. Moreover, the ice creams have high sugar content, which doesn’t align with the wellness and health trends. The plant-based ice cream market has a broader consumer base in other countries, but has very negligible demand in Vietnam. This is limiting choice and hence affecting the sales of the ice cream market.    

Market Segmentation Analysis (Category):

In 2024, Impulse Ice Cream grabbed the highest market share. Impulse Ice Cream, consisting of single portion dairy ice cream, held the market share of more than 80% in 2024. This is due to the increasing tourism industry in Vietnam. Vietnam’s hot and humid weather plays a significant role in increasing sales in the country. The consumers need a cooling snack and prefer something that is convenient to carry. Hence, the consumers are more inclined towards buying the ice cream in single-serve cups, sticks, and cones, etc.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including 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 and Others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?