IMARC Group, a leading market research company, has recently releases report titled “Ice Cream Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the ice cream market in India share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the ice cream market in India?
The ice cream market in India size reached INR 194.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 508.4 Billion by 2028, exhibiting a growth rate (CAGR) of 17.5% during 2023-2028.
What is Ice Cream?
Ice cream is a popular sweetened frozen dessert that has captivated taste buds globally for centuries. Traditionally, it’s made by combining key ingredients like milk or cream, sugar, and often egg yolks. This mixture is churned slowly while cooling to prevent large ice crystals from forming, resulting in a smoothly textured final product. Flavorings, such as vanilla, chocolate, fruits, nuts, and other creative additions are incorporated to offer a myriad of taste experiences. Ice cream can be found in countless varieties including regular, premium, and artisanal, each differing in ingredients quality, fat content, and preparation methods. Novel forms like gelato, an Italian version known for its dense creaminess and intense flavor; sorbet, a dairy-free variant often fruit-based; and frozen yogurt, considered a healthier option due to its probiotic content, are further broadening the spectrum of frozen delights. One of the reasons for ice cream’s worldwide popularity is its versatility. It can be enjoyed plain, topped with sauces or sprinkles, served alongside cakes or pies, or fashioned into treats like sundaes, milkshakes, and ice cream sandwiches.
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Ice Cream Market in India Trends:
The rising disposable incomes and urbanization are contributing to increased consumer spending on discretionary food items like ice cream which represents one of the key factors driving the growth of the ice cream market in India. As more people migrate to urban areas and hold more money to spend, the demand for indulgent food products grows. In line with this, India’s large and young population is significantly impacting the growth of the market. Young consumers often hold a high preference for sweet treats and novel flavors, thereby making them a key demographic for ice cream manufacturers. This propensity, coupled with India’s hot climate for a significant part of the year, is bolstering the demand for ice cream.
The market is also driven by the proliferation of organized retail and e-commerce. Supermarkets, hypermarkets, and convenience stores provide a wide range of ice cream brands and varieties, increasing consumer access to these products. In addition to this, online grocery shopping is increasing which is facilitating easy purchase and home delivery of ice cream products. In addition to this, innovation in product offerings is fueling the market growth. Manufacturers continually launch new flavors and formats to attract consumers which is fueling the growth of the market. The introduction of regional flavors that cater to local tastes, healthier options with reduced sugar or fat, and premium and artisanal products targeting the upscale market segment, all contribute to expanding the market.
The increasing marketing and promotional activities are propelling the growth of the market. Ice cream brands invest heavily in advertising campaigns, especially during the summer, to lure consumers. They also offer discounts and promotional deals to stimulate sales. Moreover, the growing health consciousness among Indian consumers is driving demand for healthier ice cream alternatives. This includes options that are low in sugar, lactose-free, or made with natural ingredients, which creates a positive outlook for the market across the country.
Who are the key players operating in the industry?
The report covers the major market players including:
- GCMMF
- Kwality Walls
- Vadilal
- Mother Dairy
- Hatsun
- Cream Bell
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type
- Impulse Ice Cream
- Take-Home Ice Cream
- Artisanal Ice Cream
Breakup by Flavor
- Chocolate
- Fruit
- Vanilla
- Others
Breakup by Format
- Cup
- Stick
- Cone
- Brick
- Others
Breakup by End-User
- Retail
- Institutional
Breakup by Distribution Channel
- General Trade
- Supermarkets/Hypermarkets
- Ice cream Parlors
- Convenience Stores
- Online
- Others
Breakup by Regions:
- Maharashtra
- Uttar Pradesh
- Andhra Pradesh
- Tamil Nadu
- Gujarat
- Rajasthan
- Karnataka
- Madhya Pradesh
- West Bengal
- Bihar
- Delhi
- Kerala
- Punjab
- Odisha
- Haryana
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