Ice Cream Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Ice Cream Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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.

Originally known as iced cream, ice cream can be defined as a mixture of milk, cream, sugar and other ingredients, that has been frozen into a soft, creamy delight using special techniques. It generally contains stabilizers, like gluten and plant-based gums, which give the mixture a consistent texture. Ice creams also contain milk proteins, such as whey and casein, that absorb the water content and generate micelles for improving the consistency of the product. Some of the common flavors of ice creams include strawberry, vanilla, chocolate, and butterscotch. In India, ice cream is one of the most widely consumed dairy products and is available in varied price ranges.

India Ice Cream Market Trends:
Significant growth in the food and beverage sector, and the presence of a thriving dairy industry represent the key factors creating a positive outlook for the market in India. Moreover, the improvements in cold chain infrastructure, including temperature-controlled storage spaces, procurement of trained operational and servicing personnel, and application of efficient management procedures, are fueling the market growth. Moreover, rising disposable incomes have enabled consumers to afford premium-quality ice creams, which has prompted several international ice cream brands to expand their businesses in India. This, in turn, is acting as a major growth-inducing factor. The rising health consciousness and lactose intolerance amongst the population has prompted manufacturers to introduce preservative-free, genetically modified organism (GMO)-free, dairy-free, fat-free and organic product variants, which is contributing to the market growth further across the country.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the ice cream market in India report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on type, flavor, format, end-user and distribution channel.

Breakup by Type:

Impulse Ice Cream
Take-Home Ice Cream
Artisanal Ice Cream

Based on the type, the market has been bifurcated into impulse, take-home and artisanal ice cream.

Breakup by Flavor:

Chocolate
Fruit
Vanilla
Others

On the basis of the flavor, the market has been segmented as chocolate, fruit, vanilla and others.

Breakup by Format:

Cup
Stick
Cone
Brick
Others

The market has been segregated into cup, stick, cone, brick and others on the basis of format.

Breakup by End-User:

Retail
Institutional

Based on the end user, the market has been divided into the retail and institutional segments.

Breakup by Distribution Channel:

General Trade
Supermarkets/Hypermarkets
Ice cream Parlors
Convenience Stores
Online
Others

The report has classified the market on the basis of the distribution channels into general trade, supermarkets/hypermarkets, ice cream parlors, convenience stores, online and others.

Performance by Regions:

Maharashtra
Uttar Pradesh
Andhra Pradesh
Tamil Nadu
Gujarat
Rajasthan
Karnataka
Madhya Pradesh
West Bengal
Bihar
Delhi
Kerala
Punjab
Odisha
Haryana

Currently, Maharashtra represents the largest market, accounting for nearly 14% of the market share.

Competitive Structure:
The competitive landscape of the Indian ice cream market has also been covered in this report. Some of the prominent players operating in the market include GCMMF, Kwality Walls, Vadilal, Mother Dairy, Hatsun and Cream Bell.

The study gives an in-depth analysis of the ice cream market landscape in India, covering the current, historical and future trends for ice cream production along with its prices. The report also offers SWOT, Value Chain and Porter’s Five Forces analysis of the Indian ice cream market along with breakup by segment, region, and an analysis of the competitive landscape. The study is based on both desk research and multiple waves of qualitative primary research. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian ice cream industry in any manner.

Key Questions Answered in This Report

1. What was the size of the ice cream market in India in 2022?
2. What is the expected growth rate of the ice cream market in India during 2023-2028?
3. What are the key factors driving the ice cream market in India?
4. What has been the impact of COVID-19 on the ice cream market in India?
5. What is the breakup of the ice cream market in India based on the type?
6. What is the breakup of the ice cream market in India based on the flavor?
7. What is the breakup of the ice cream market in India based on the format?
8. What is the breakup of the ice cream market in India based on the end-user?
9. What is the breakup of the ice cream market in India based on the distribution channel?
10. What are the key regions in the ice cream market in India?
11. Who are the key players/companies in the ice cream market in India?