Binggrae Rises as Ice Cream Market Leader for Two Years
Creatrip Team
a year ago
Binggrae has maintained its leading position in Korea's ice cream market for the second consecutive year, surpassing Lotte Wellfood. After acquiring Haitai Ice Cream in 2020, Binggrae strengthened its market presence, achieving a combined market share of 42.69% in 2022 compared to Lotte's 39.80%. Despite challenges from low birth rates, the domestic ice cream market has shown slight growth.
With increasing health consciousness, low-calorie products have become popular, like Lotte's zero-calorie Screw Bar and Jaws Bar. Both companies are also focusing on expanding globally. Binggrae is targeting the U.S. and Europe, while Lotte is ramping up production in India. This trend in 'K-Food' globalization presents a significant opportunity for both companies.
