K-Ice Cream Captures Global Taste Buds
Surpasses $120 Million in Annual Exports for the First Time
Expanding Presence in North America, Southeast Asia, and Europe
Localization Strategies Drive Record-Breaking Export Growth
Riding the wave of the K-food boom, ice cream exports are reaching record highs every year. This year, the annual export value is expected to surpass $120 million for the first time. Analysts attribute this rapid growth to domestic ice cream companies accelerating their export expansion by strengthening product development and distribution strategies tailored to local consumer preferences, particularly in North America, Southeast Asia, and Europe.
According to the Korea Customs Service on December 30, Korea's ice cream export value increased from $72.42 million (103.8 billion won) in 2021 to $77.6 million (111.3 billion won) in 2022, and reached $93.06 million (133.4 billion won) in 2023. Last year, exports nearly reached the $100 million mark at $98.41 million (141.1 billion won), and this year, the annual total is estimated to have reached $120 million. From January to November this year, cumulative exports amounted to $112.25 million (159.5 billion won). In just four years, the export volume has grown by more than 60%.
By country, North America and Southeast Asia are leading export growth. The United States accounted for the largest share at $34.11 million (4.89 billion won). As distribution channels have expanded from primarily Korean grocery stores to major local retailers, K-ice cream is now entering the mainstream dessert market. The Philippines followed with $10.09 million (1.45 billion won), then Canada ($8.8 million, 1.26 billion won), Japan ($8.14 million, 1.17 billion won), China ($7.13 million, 1.02 billion won), and Vietnam ($6.05 million, 870 million won).
An industry insider commented, "Whereas in the past there was high dependence on specific countries, now the export landscape is broadening to North America, Southeast Asia, and Europe. The key factor driving export growth is the localization strategy tailored to each country's consumer preferences and distribution environment."
At the center of Korea's ice cream export growth are the two major players in the domestic industry: Binggrae and Lotte Wellfood. Analysts note that their success is due to not only exporting finished products, but also meticulously designing flavors, packaging, and distribution strategies to suit local consumer tastes.
Binggrae exports its flagship brands, such as Melona and Samanco, to over 30 countries worldwide, including the United States and China. Binggrae's export value more than doubled from 36.5 billion won in 2020 to 82.9 billion won last year. In just the first three quarters of this year, exports reached 81.7 billion won, and the annual total is expected to approach 100 billion won. The export ratio rose from 8.5% in 2020 to 13.7% in the first three quarters of this year. Binggrae's ice cream exports account for more than 55% of Korea's total ice cream exports. In particular, Melona has established itself as the symbolic product representing "K-ice cream" in the North American market.
Binggrae is also accelerating its efforts to penetrate the European market. To lower customs barriers, the company launched "Plant-Based Melona," replacing dairy ingredients with plant-based alternatives, and began exports to major European countries such as the Netherlands, Germany, the United Kingdom, and France in 2023. As a result, sales in Europe last year increased more than fourfold compared to the previous year. This year, Plant-Based Melona was launched in Carrefour, which operates over 1,300 stores across France.
Expansion is also continuing in the Australian market. Plant-Based Melona is now being sold through major local retailers such as Woolworths and Coles. Additionally, Costco Australia has started selling Melona packs in melon, mango, and coconut flavors. Since 2007, Binggrae has been selling Melona and Samanco in Thailand, and plans to accelerate its push into the Southeast Asian market by expanding distribution channels in Thailand.
The other pillar of Korea's ice cream export growth is Lotte Wellfood. In addition to exporting domestically produced products, Lotte Wellfood is accelerating its global market expansion by developing its overseas ice cream business, centered on its Indian subsidiary, Lotte India.
The main export destinations for Lotte Wellfood's ice cream are the United States, China, the Philippines, and Taiwan. The company has built an export portfolio around mega brands familiar to Korean consumers, such as Jaws Bar, Screw Bar, Watermelon Bar (locally called Jokbak), Tico, Seolleim, Bbangpare, and Chaltteok Ice. Export value increased from 20.3 billion won in 2022 to 24.8 billion won in 2023, and last year reached 26.4 billion won. In the first half of this year alone, exports amounted to 19.4 billion won, setting the stage for a record annual performance.
Alongside exports, the most notable achievement is in the Indian market. After acquiring local ice cream company Havmor and restructuring it as Lotte India, Lotte Wellfood has been targeting the entire Indian market through local production. Lotte India's ice cream sales have steadily increased from 58.7 billion won in 2020 to 99.4 billion won in 2021, 154.4 billion won in 2022, 165.6 billion won in 2023, and 172.9 billion won last year. Sales in the first half of this year alone reached 122.6 billion won.
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