Core Viewpoint - The ice cream market is undergoing significant changes, with premium brands like Magnum and Häagen-Dazs facing challenges due to shifting consumer preferences towards affordable options and local brands [1][2][5]. Company Overview - Unilever's ice cream business has been separated and will operate as Magnum Company, planning to go public in Q4 2023 in major cities [1]. - Magnum Company holds a strong market position, with a retail value of €8.3 billion in 2024, showing a 4.5% year-on-year growth [1]. - Häagen-Dazs is struggling in China, with reports of declining revenue and foot traffic, leading to potential store closures [2][4]. Market Dynamics - The ice cream market is experiencing a shift towards lower-priced products, with premium ice creams becoming less popular in retail channels [5][16]. - In China, the average ice cream consumption per person reached 3.1 kg in 2024, indicating significant growth potential despite current market challenges [12][13]. - The competitive landscape is intensifying, with local brands like Yili and Mengniu posing strong challenges to established players [4][16]. Consumer Behavior - Consumers are increasingly price-sensitive, especially in the current economic climate, leading to a decline in high-end ice cream sales [14][15]. - The trend towards affordable ice cream is evident, with over 70% of ice cream orders on platforms like Meituan priced below 3 yuan [16]. - Young consumers aged 18-35 are driving the demand for ice cream, emphasizing the need for innovative flavors and healthier options [19]. Industry Trends - The ice cream industry is evolving to become a year-round product, with brands exploring new consumption scenarios beyond summer [20]. - The competition in the ice cream market is becoming similar to that in the coffee and tea sectors, with price wars and flavor innovations becoming common strategies [21][22]. - Major ice cream brands are experiencing revenue declines, with Yili's ice cream business down 18.41% and Mengniu's down 14.12% in 2024 [22].