Do you know – Ice cream is cheaper than therapy for stress? Who dares to say no to ice-cream? Yes, very true it is.
Ice cream is a popular and beloved treat in India, enjoyed by people of all ages and backgrounds. Over the past few decades, the ice cream market in India has grown significantly, driven by factors such as rising disposable incomes, changing consumer preferences and increasing availability of diverse ice cream products. In 2022, the ice cream market in India was estimated at INR 194.1 billion. As per market analysts, the market is expected to reach INR 508.4 Billion by 2028, at a CAGR of 17.41% between 2022-2028.
Production volume of ice cream across India from financial year 2015 to 2020(in million liters) Source – Statista
There’s no better way to enjoy your favorite ice cream than with these exciting new innovations! The growing popularity of ice cream has led to the creation of healthy alternatives in India. The ice cream market in India is expected to grow at a compound annual growth rate of 9% over the coming decade, driven by a growing population and increasing disposable incomes.
The consumption of ice cream in India is growing rapidly. The average per capita consumption will increase in the coming years, as more Indians discover how much fun it is to enjoy a cold treat on a hot day. Whether you’re in the US or in India, one thing is definite: everyone loves Ice Cream! And no one can blame them – it’s absolutely delicious. But when you think of US, you probably imagine creamy smooth ice cream on a hot summer day while in India you picture a pani-puri vendor selling a bowl of kulfi on the street. With chocolate, vanilla, strawberry and more, ice cream is a frozen sensation that never goes out of style. The favorite of children and adults alike, there’s no wonder it’s so popular across the globe. Which type of ice cream do you prefer? Fruity flavors or classic chocolate?
An average Indian consumes around 2L of ice cream per year, compared to the average American, who consumes around 12L per year.
India’s frozen dessert market is dominated by Havmor, Amul and HUL, who together account for over 60% of the market share. These companies offer a range of products, including traditional ice cream flavors as well as more innovative and premium offerings. A variety of specialties and regional flavors can be found at ice cream shops, street stalls and small vendors. A wide array of ice cream options are available in India. Modern age D2C brands like Get A Way, Minus 30, NOTO offer wide range of healthy friendly, low calorie ice-creams.
If you love ice cream, you’re probably already familiar with this trend. Recently, though, manufacturers have begun to introduce innovative ingredients and flavors to the marketplace – from green tea ice cream to brown-butter caramel, it’s clear that consumers are looking to experience a variety of taste sensations. Ice cream has a long history, and continues to evolve, making it a luxury product that is both tasty and interesting.
The increasing health consciousness among consumers in India is another trend that has been influencing the ice cream market in recent years. With more and more people looking for healthier alternatives, manufacturers are responding by offering low-fat and sugar-free options.
Rich, creamy, and smooth, ice cream is a classic dessert that delicious year-round. Roses are red, violets are blue, and with the market share of ice cream in India growing, it is clear that the frozen treat is now available en masse.