NONGFU SPRING(HK:09633) 36氪·2025-07-23 13:15Core Viewpoint - The ice cup market is experiencing significant growth and innovation, with major food and beverage companies exploring new possibilities in ready-to-drink ice products, driven by consumer demand for diverse flavors and unique shapes [4][6][19]. Market Trends - In 2025, the ice cup market has become more competitive, with major players like Yili, Mengniu, and Nongfu Spring launching new ice cup products that cater to evolving consumer preferences [5][6]. - The variety of ice cups has expanded significantly, with new flavors such as oolong tea, guava, and peach being introduced, alongside diverse ice shapes [9][10]. - The pricing of ice cups has shown a clear segmentation, with some premium ice cups priced over 10 yuan, while others remain affordable at around 1 yuan [11][12]. Consumer Behavior - Consumer acceptance of ice cups has increased, with a notable shift from traditional ice blocks to flavored ice cups that offer a more enjoyable drinking experience [17][18]. - The demand for ice cups has led to a surge in sales for related beverages, with a reported 350% increase in ice cup delivery orders in June 2024 [19]. Industry Dynamics - The entry of major brands into the ice cup market has intensified competition, prompting smaller players to adapt their strategies, often focusing on OEM production for larger brands [25][27]. - The ice cup business has low entry barriers, allowing many ice factories to pivot quickly to ice cup production, which has led to a rapid increase in market participants [19][22]. Future Outlook - The ice cup market is expected to continue growing, with predictions of significant increases in sales through instant retail channels, potentially reaching over 630 billion yuan by 2026 [34]. - Innovations in ice cup design and flavoring are anticipated to further enhance consumer interest and market expansion, with new products like dual-color and gradient ice balls being developed [39][40].