Vietnam’s ice cream market is expected to grow from US$180 million in 2024 to US$245 million by 2030, expanding at a compound annual growth rate (CAGR) of 6.2 percent, according to a report from MarkNtel Advisors.
Key points:
- Market size projected to grow from US$180 million (2024) to US$245 million (2030).
- Impulse ice cream (single-serve options) is forecast to post a 9.5 percent CAGR, outperforming other categories.
- 40 million litres of ice cream are consumed annually in Vietnam.
- Kido Group holds a dominant 45 percent market share, leading the domestic industry.
- Offline retail remains the top distribution channel, accounting for 95 percent of total sales.
Vietnam’s growing middle class, hot climate, and booming tourism industry are reshaping the frozen dessert sector. While legacy players like Kido dominate, evolving consumer tastes—particularly among youth and tourists—are pushing innovation in flavours and formats. This positions Vietnam as one of Southeast Asia’s most dynamic growth markets for ice cream.
See also: Food and Beverage Industry in Vietnam