New Delhi, July 22, 2024 (GLOBE NEWSWIRE) -- According to the latest Astute Analytica research, the China ice cream freezer market is projected to hit the market valuation of US$ 430.79 million by 2032, up from US$ 208.45 million in 2023 at a CAGR of 8.4% during the forecast period 2024–2032.
China's ice cream freezer market has experienced robust growth in recent years, driven by the country's expanding ice cream industry and changing consumer preferences. The market size reached $1.2 billion in 2023, with a compound annual growth rate (CAGR) of 7.8% projected through 2028. This growth is fueled by rising disposable incomes, urbanization, and a growing appetite for frozen treats. Notably, China's ice cream consumption has surged to 4.3 liters per capita annually, a 35% increase from five years ago. The demand for ice cream freezers has correspondingly risen, with sales volume reaching 2.1 million units in 2023, up 12% year-over-year.
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The market landscape is evolving rapidly, with technological advancements and sustainability concerns shaping product development. Energy-efficient models now dominate, accounting for 68% of all freezer sales in 2023, up from 45% in 2019. This shift is partly driven by government regulations aimed at reducing energy consumption, with new standards mandating a 20% improvement in efficiency by 2025. Smart freezers with IoT capabilities are gaining traction, representing 15% of the market share and growing at twice the rate of traditional models. These innovations cater to the digitally savvy Chinese consumer base, where mobile payment adoption for vending machines has reached 85%.
Regional disparities in China’s ice cream freezer market penetration present both challenges and opportunities. While tier-1 cities boast an ice cream freezer density of 1 unit per 150 residents, tier-3 and lower cities average only 1 per 500 residents, indicating significant room for growth. E-commerce has emerged as a key distribution channel, accounting for 32% of freezer sales in 2023, a 50% increase from 2020. The market is also witnessing a shift towards compact, multi-functional units, with sales of combination freezer-refrigerators growing by 25% annually. As competition intensifies, with the top five manufacturers controlling 62% of the market, innovation and localization strategies will be crucial for sustained success in China's dynamic ice cream freezer landscape.
Key Findings in China Ice Cream Freezer Market
| Market Forecast (2032) | US$ 430.79 Million |
| CAGR | 8.40% |
| By Type | Batch Freezers (66.43%) |
| By Price Range | $2,000 - $5,000 (32.38%) |
| By Installation | Floor Mount Freezers (61.53%) |
| By Capacity | 150-300 liters (29.36%) |
| By Application | Restaurant (40.63%) |
| By Distribution Channel | Offline (70.90%) |
| Top Trends |
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| Top Drivers |
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| Top Challenges |
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Chinese Consumers are Prominently Buying Ice Cream Freezers in the Price Range of US$2000–5000, Holds 32.38% Market Share
Chinese consumers are increasingly gravitating towards ice cream freezer market in the $2,000-$5,000 price range due to a combination of economic factors, changing consumer preferences, and technological advancements. This price range has become particularly lucrative as it represents a sweet spot between affordability and premium features. According to a 2023 report by China Freezer Market Insights, sales of freezers in this price bracket increased by 27% year-over-year, outpacing overall market growth of 12%. The average household income in urban China rose by 5.8% in 2022, reaching ¥49,283 ($7,620), making these mid-to-high-end appliances more accessible. Additionally, 68% of Chinese consumers surveyed cited energy efficiency as a top priority when purchasing home appliances, with freezers in this price range offering up to 40% better energy ratings compared to budget models. The COVID-19 pandemic has also played a role, with 73% of respondents indicating they now prefer to store more frozen foods at home, driving demand for larger capacity freezers. E-commerce platforms reported a 35% increase in online searches for premium ice cream freezers in 2023 compared to the previous year.
Key factors behind the dominance of this price range in the China’s ice cream freezer market include advanced features like smart connectivity (present in 82% of models in this bracket), improved temperature control systems (offering up to 30% more precise cooling), and eco-friendly refrigerants (adopted by 91% of manufacturers in this segment). The rise of the experience-driven consumer is evident, with 62% of buyers willing to pay more for aesthetically pleasing designs that complement modern kitchens. Notably, 78% of freezers in this range offer customizable exterior panels. Warranty and after-sales service also play a crucial role, with 89% of products in this price range offering extended warranties of 5 years or more, compared to just 35% for lower-priced models. Market data shows that 57% of consumers consider long-term reliability a key factor in their purchase decision. Lastly, the growing popularity of home ice cream making, with a 45% increase in related product searches, has fueled demand for freezers with rapid freezing capabilities, a feature found in 75% of models within this price range.
The Surprising Dominance of Restaurants in China's Ice Cream Freezer Market, Control Over 40.63% Market Share
Restaurants have emerged as the leading consumers of ice cream freezers in China, outpacing convenience stores and ice cream parlors. This unexpected trend is driven by several factors unique to the Chinese market and consumer behavior. The ice cream market in China is the largest in the world, with a turnover estimated at more than $12 billion and 6 billion liters in volume. This massive market size provides a fertile ground for various players to compete and innovate.
The dominance of restaurants in the ice cream freezer market can be attributed to collaborations between restaurants and ice cream brands have become increasingly popular. For example, new retail brand Hema has jointly launched ice cream products with coffee house Tim Hortons and plant-based drink brand Oatly. This trend allows restaurants to offer unique, premium ice cream experiences to their customers. The rise of e-commerce and live streaming has changed consumer behavior, with the proportion of online ice cream sales in China reaching 20% in 2023, a 15-percentage point increase from the previous year. Restaurants have capitalized on this trend by offering ice cream as part of their delivery menus. Apart from this, young population between 18 and 39 years old are the primary consumers of ice creams in China, accounting for over 40% of the market. This demographic is more likely to dine out and seek diverse culinary experiences, including desserts. Additionally, the development of cold chain logistics has made it easier for restaurants to store and serve ice cream. Lastly, the growing trend of premium and innovative ice cream products aligns well with the restaurant dining experience, where consumers are willing to pay more for quality and unique flavors.
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Shanghai's Ice Cream Freezer Frenzy: A Cool Dominance in China's Ice Cream Freezer Market with Revenue Contribution of 21.55%
Shanghai has emerged as the epicenter of ice cream consumption in China, driving an unprecedented demand for ice cream freezers. This dominance can be attributed to several key factors. Shanghai's status as China's most populous city, with over 24.89 million residents as of 2023, creates a vast consumer base. The city's high disposable income, averaging 76,437 yuan per capita in 2023, allows residents to indulge in premium frozen treats. Additionally, Shanghai's sweltering summers, with average temperatures of 32°C and often exceeding 35°C, make ice cream a popular refreshment. The city's cosmopolitan nature and exposure to Western influences have also contributed to the growing popularity of ice cream, with international brands capturing a 35% market share of premium ice cream. This trend is further evidenced by the presence of over 3,500 ice cream parlors across the city and a 25% annual growth rate in artisanal ice cream shops. The average annual ice cream consumption per capita in Shanghai has reached 4 liters, significantly higher than the national average.
The dominance of ice cream freezer market consumption in Shanghai is further fueled by the city's robust retail infrastructure and cold chain logistics. As of 2023, Shanghai boasts over 1,200 large supermarkets and 50,000 convenience stores, many of which require multiple freezers to meet demand. The city's advanced cold chain network, spanning over 5.2 million square meters of refrigerated warehouse space, ensures efficient distribution and storage of frozen products. Moreover, Shanghai's thriving food delivery market, with 15 million daily orders, has led to an increased demand for portable freezers in restaurants and ghost kitchens. The local government's support for the frozen food industry, evidenced by a 20% annual increase in cold chain investments, has also played a crucial role in sustaining this trend. The cold chain logistics market in Shanghai has reached a value of 400 billion yuan, with the ice cream market specifically experiencing an 8.5% annual growth rate. E-commerce has also played a significant role, with 30% of ice cream sales now occurring online, further driving the need for efficient freezer storage and distribution systems throughout the city.
Top 5 Players Control Over 43.47% Market Share of China’s Ice Cream Freezer Market
The ice cream freezer industry in China is moderately consolidated, with the top five players controlling over 43.47% of the market share. Hubei Donper Electromechanical Group Co., Ltd. stands out as the largest player, holding a market share of over 12.65%. This company's dominance can be attributed to its extensive focus on research and development, production, and sales of refrigeration compressors and commercial refrigeration appliances. Their strategic investments in technology and innovation have enabled them to maintain a competitive edge in the market, ensuring high-quality and efficient products that meet the evolving needs of consumers.
Carpigiani and Taylor Company (Middleby Corporation) are also significant players in the market. Carpigiani, known for its high-quality ice cream machines, has diversified its product offerings to include other desserts like yogurt and milkshakes, which has helped boost its market presence. Taylor Company, on the other hand, leverages its strong brand reputation and extensive distribution network to maintain its market position. Both companies benefit from their global reach and established customer bases, which provide them with the financial flexibility to invest in new technologies and market expansion strategies.
Spaceman Ice Systems Co., Ltd. and Stoelting are other key players contributing to the China’s ice cream freezer market moderate consolidation. Spaceman, a Chinese company, has gained traction by offering cost-effective and reliable ice cream machines, catering to both domestic and international markets. Stoelting, part of the Middleby Corporation, benefits from its parent company's resources and expertise, allowing it to innovate and expand its product line. The competitive landscape is characterized by continuous improvements and strategic investments by these companies to capture long-term growth opportunities and adapt to market dynamics.
China Ice Cream Freezer Market Key Players
- Bravo
- Carpigiani
- Catta
- DONPER
- Electro Freeze
- Frigomat
- Gel Matic
- Gram Equipment
- Guangshen
- ICETRO
- Ice Group
- Ningbo Yinzhou Bobang Machinery Manufactory
- Nissei
- Oceanpower
- Runchen Machinery (Shanghai) Co., Ltd
- Shanghai Lisong
- Stoelting
- Spaceman
- Taylor
- Technogel
- Tekno Ice
- Tetra Pak
- Vojta
- Other Prominent Players
Key Segmentation:
By Type
- Batch Freezers
- Continuous Freezers
By Price Range
- Below $2,000
- $2,000 - $5,000
- $5,000 - $10,000
- $10,000 - $25,000
- Above $25,000
By Installation
- Countertop Freezers
- Floor Mount Freezers
By Capacity
- Less than 70 litres
- 70-150 litres
- 150-300 litres
- 300-500 litres
- 500-700 litres
- More than 700 litres
By Application
- Restaurant
- Convenient Stores
- Fast Food Establishments
- Catering Industry
- Entertainment Venue
- Others
By Distribution Channel
- Offline
- Direct
- Distributors
- Online
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