Thai Ice Cream Exports Continue to Grow, Ranked No. 1 in Asia
March, 26 2024
In 2023, the total export value reached $148.21 million (approximately 5.1 billion THB), reflecting a 7.3% expansion. Thailand now ranks as Asia’s number one ice cream exporter and 11th in the world.
Global and Thai Ice Cream Market Growth
Ice cream remains a high-demand product. According to Euromonitor International, the global ice cream retail market was valued at $86.7 billion in 2023, growing by 8.8% compared to 2022. Meanwhile, Thailand’s domestic ice cream market was valued at $396 million, expanding by 11.0%.
The key growth drivers include hot weather, increasing foreign tourism, and a rise in "On-The-Go" lifestyles among Thai consumers.
The Rise of Health-Conscious Ice Cream
Consumer preferences are shifting toward healthier food choices, leading to a demand for nutritious and functional ice cream. This trend has influenced the ice cream industry, with consumers now looking for tasty yet healthy options, such as:
- Dairy-based ice cream
- Plant-based ice cream
- Fruit-infused ice cream
Manufacturers are now developing lactose-free, reduced-sugar, and vegan-friendly ice creams to cater to consumers with dietary restrictions, such as those allergic to dairy or following vegan and plant-based diets.
Sustainability in the Ice Cream Industry
Modern consumers are also increasingly concerned with sustainability. Major ice cream producers are implementing eco-friendly production methods, such as:
- Using eco-friendly freezers
- Replacing plastic packaging with paper-based materials
These innovations add value to the product while also stimulating market demand.
Thailand’s Market Share in Global Ice Cream Exports
As of 2022, Thailand accounted for 2.6% of global ice cream exports, while the European Union, the United States, and the United Kingdom held 68.4%, 5.0%, and 3.0% market shares, respectively.
Thailand’s ice cream exports have continued to grow since 2017. In 2023, the country recorded exports worth $148.21 million (5.1 billion THB), growing by 7.3%, and in January 2024, exports reached $9.91 million (343 million THB), expanding by 10.1% YoY.
Top 5 Export Destinations for Thai Ice Cream in 2023
- Malaysia – 29.5%
- South Korea – 11.3%
- Vietnam – 9.5%
- Singapore – 6.5%
- Cambodia – 6.3%
Thailand: Asia’s Ice Cream Export Leader
According to Poopong Naiyanapakul, Director of TPSO, Thailand ranks as Asia’s largest ice cream exporter, behind only the EU, the US, and the UK.
Thailand’s strong raw material supply, creative product development, and diverse fruit varieties allow local producers to create unique ice cream flavors that appeal to global consumers. Additionally, Thai herbs have been integrated into ice cream products, reinforcing the nation’s unique identity.
Future Opportunities & Adaptation
Consumers are becoming increasingly health-conscious and sustainability-focused. Thai ice cream manufacturers must adapt to these trends by innovating health-focused, eco-friendly, and functional ice cream products.
By doing so, Thailand can expand into new export markets, as there is still significant room for growth both domestically and globally.