Thailand is now Asia’s largest exporter of ice cream and ranks 4th globally. How does his happen ? This top ranking was attributed mainly by acquisitions from Chinese conglomerates such as Yili Group, which have established cost-efficient manufacturing hubs in Thailand, making use of the country’s advanced cold chain and international freight networks to reach distant markets.
In addition, a range of free trade agreements has also helped Thailand to achieve this position, granting Thai ice cream low or tariff-free entry into new territories.
Between 2020 and 2024 Thailand’s ice cream exports averaged US$106 million annually, growing by over 10% each year. In the first 2 months of 2025, exports reached US$22 million – a surge the government attributes in part to the country’s 14 free trade agreements with 18 different countries.
A Thai government PR Department in a statement said, “Tariffs have been eliminated by 17 of these partners, giving Thai ice cream a competitive edge. As of early 2025, exports to these markets accounted for 87% of total ice cream shipments.”
The 11-member ASEAN hails its free-trade agreements as a lifeline for exporters navigating Washington’s tariff barriers. Reciprocal deals have eased US levies, but rising costs and volatile currencies continue to compress margins for Southeast Asia’s small and medium-sized businesses.
Asia now accounts for around 37% of the global market for ice cream, according to the International Ice Cream Consortium, which estimated the sector’s value could exceed US$56 billion in the next 5 years, with China and India leading global consumption.
Rising disposable incomes are enabling more people to indulge in non-essential treats – and to pay a premium for them. The consortium added, “Increasing urban populations and dual-income households are normalising ice cream consumption as an everyday indulgence.” In addition, growth has been fuelled by rising demand for premium and artisanal products … and the rise of health-conscious and non-dairy alternatives, and a focus on unique, innovative flavours.
Asia’s burgeoning middle class is willing to pay more for a cone or a tub, with low-fat, low-sugar, vegan and non-dairy options reflecting broader lifestyle trends. Interesting flavors like matcha, coconut, plum, red bean and tropical fruits which blend Western and Asian tastes, have grown in popularity reflecting a new era of culinary cross-pollination.
