India Ice Cream Market: Size, Share and Trends 2024-2032

India Ice Cream Market

Source: The Report Cube

Study Period

2020- 2032

Market (2023)

USD 220 Billion

CAGR

14.5%

Major Markets Players

Gujarat Co-operative Milk Marketing Federation Ltd, Hindustan Unilever Ltd, Creambell , Hatsun Agro Products Ltd, Mother Dairy Fruit & Vegetable Pvt Ltd and Others

Understand The Key Trends Shaping This Market

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India Ice Cream Market Insights & Analysis

The India Ice Cream Market was USD 220 Billion in 2023 and is anticipated to register a CAGR of around 14.5% during the forecast period, i.e., 2024-32. The rising middle-class population, increased disposable income, shifting consumer preferences, and growing urbanization all contributed to the rising market demand. The industry is flexible, with steady needs throughout the year and a noticeable uptick in the sweltering summer months. As per the projections, the market would likely continue to expand rapidly in the coming years due to customers’ heightened indulgence in frozen desserts.

The vast range of the industry & broad variety of flavors available for the customers, ranging from traditional chocolate to vanilla to distinctive regional options like saffron & rose. To keep customers attracted & involved, ice cream companies also constantly innovate by releasing limited-edition flavors, fusion concoctions, and partnerships with other food & beverage companies. Moreover, popularly known as iced cream, this relishing dessert is made with milk, sugar, cream, and several other additional ingredients that are frozen using certain methods to produce a smooth, creamy texture. Stabilizers like plant-based gums & gluten are typically added to give the mixture a uniform texture.

Additionally, whey & casein, two milk proteins found in ice cream, absorb water & form micelles to enhance the consistency of the final product. Common ice cream flavors include chocolate, butterscotch, strawberry, and vanilla are the most popular flavors in the India Ice Cream Industry, which come in a variety of price ranges. Besides, the Ice Cream Market in India has grown tremendously due to the burgeoning e-commerce & the quick rise of Q-commerce across the country. Consumers gain from effective Q-commerce as it allows them to purchase ice cream with just a button click. Also, the nation’s top ice cream brands, like Natural’s, Keventers, Kwality Wall’s, Giani, etc., have introduced exotic flavors of ice cream, like tropical fruits, betel leaf, Belgian chocolate, and many more, enticing consumers & increasing the India Ice Cream Market sales.

Furthermore, high-end ice cream sales have increased significantly, as a result of growing disposable income and a change in the nation’s lifestyle, and this trend is anticipated to continue in the coming years. The diversification of Q-commerce in India, the expansion of the unorganized sector, and the constant efforts of ice creams in a range of flavors are predicted to propel the growth of the India Ice Cream Market over the future years.

India Ice Cream Market Dynamics

High Seasonal Demand & Cultural Traditions to Drive the Industry Growth

The distinct fusion of India’s weather patterns & cultural customs has greatly aided in the ice cream industry’s expansion. The hot months of the year in India result in a notable increase in ice cream consumption due to the country’s intense summer season. Ice cream serves as more than simply a dessert, it’s a way to stay cool & escape the heat. Manufacturers produce summer-specific products, run promotions, and marketing efforts in response to this seasonal demand. Also, numerous festivals & celebrations, involving the ingestion of sweets & desserts like ice cream, are trademarks of India’s rich cultural environment.

Moreover, ice cream’s appeal has increased as a result of its widespread use during these festive occasions, such as Diwali, Holi, and others. The variety of Indian cultures is reflected in their tastes for desserts. Each region of the country has its traditional frozen dessert, such as falooda in the West and kulfi in the North, among other regional delicacies. In order to accommodate local tastes, ice cream brands frequently include these regional elements in their products, which contributes to enhancing the India Ice Cream.

India Ice Cream Market Report and Forecast 2032

Greater Capital Required for Cold-chain & Transportation Systems to Impede the Market Growth

Brands face difficulties during ice cream sales as it is served cold. To maintain the temperature, and keep its shape, flavor, solidity, and texture, ice cream has to be between -18 to -20 Celsius degrees. Several branded ice cream companies are losing out on market sales potential in locations distant from their production hub due to the country’s continued lack of efficient cold-chain management. Additionally, during India’s monsoon season, when roads & traffic conditions deteriorate, the situation gets more severe, leading to accidents & delays in the shipping & distribution of ice cream. Thus, owing to this, ice cream companies face a challenge from inadequate cold-chain infrastructure, further hindering the India Ice Cream Market.

Mounting Trend for Vegan Ice Cream to Transform the Indian Market

The growing rate of environmentally conscious & health-sensitive customers is driving the demand for vegan ice creams in the India Ice Cream Market. The requirement for plant-based alternatives free of dairy has increased as more people switch to plant-based diets for moral, health, and environmental reasons. Almond, soy, or coconut milk are the common ingredients in vegan food, which are well-suited for people suffering from lactose intolerance as well as others looking for cruelty-free products.

Furthermore, in line with the rising consumer demand the producers are seeking opportunities and offering a wide variety of vegan ice creams. Also, with the growing veganism in metropolitan cities and the impact of international cuisine trends, vegan ice creams are flourishing, further creating profitable opportunities for the India Ice Cream Market in the future years.

India Ice Cream Market Segment-wise Analysis

By Flavors:

Chocolate
Fruit
Vanilla
Others

The Vanilla flavor captured the largest revenue share of the India Ice Cream Market over the past years. When combined with other flavors & toppings, mix-ins, and sauces, the vanilla taste enhances the taste of the overall dish or ice cream. Vanilla couples well with a variety of different flavors & components owing to its delicate & light texture. Moreover, vanilla ice cream is made more appealing by the ability for customers to add fruits, nuts, chocolates, syrups, and other toppings to customize their purchase. Also, recipes & homemade delicacies use vanilla as an ingredient. Further, the popularity of vanilla flavor & great preference as an ice cream flavor among the people of the country is infusing its demand.

By Format:

Cup
Stick
Cone
Brick
Others (Sandwich, Tub, etc.)

Both Stick & Cup segments lead the India Ice Cream Market. Customers of all ages, including those under the age of 18, continue to favor the stick- and cup-format ice cream. Additionally, observing that urban consumers want both novel flavor & convenience, a number of major companies, such as Amul, Kwality Wall’s, and others, have introduced new flavored ice cream products in stick & cup format at a competitive pricing. Thus, throughout the projected period, the India Ice Cream Market is presumed to be driven by rising consumer preferences for hybrid flavored ice creams in stick & cone shapes.

What Does Our India Ice Cream Market Research Study Entail?

India Ice Cream Market Research Report highlights the forecast growth rate or CAGR by anticipating the market size & share.
The market analysis puts light upon the primary industry trends, driving aspects, potential opportunities, growth challenges, and other major factors.
India Ice Cream Market Research Report entails details about the most critical shifts in market share in the prominent regions.
Considering the statistics & the developments by the primary market competitors, our report also strives to demonstrate the most sought-after strategies of the key players.

Table of Contents

Introduction
1. Objective of the study
2. Product Definition
3. Market Segmentation
4. Study Variables
Research Methodology
1. Secondary Data Points
  1. Companies Interviewed
2. Primary Data Points
  1. Break Down of Primary Interviews
Executive Summary
Market Dynamics
1. Drivers
2. Challenges
3. Opportunity Assessment
Recent Trends and Developments
Key Factors Considered by Consumers While Selecting an Ice Cream Brand
Price Comparison Between Different Ice Cream Brands
India Ice-Cream Market Overview (2020-2032)
1. Market Size, By Value (In USD Millions)
2. Market Size, By Volume (In Million Liters)
India Ice-Cream Market Size, By Type (USD Million)
1. Impulse Ice Cream
2. Single Portion Dairy Ice Cream
3. Take-Home Dairy Ice Cream
4. Artisanal Ice Cream
India Ice-Cream Market Size, By Flavor (USD Million)
1. Chocolate
2. Mango
3. Vanilla
4. Strawberry
5. Butterscotch
6. Others
India Ice-Cream Market Size, By Type of Serving (USD Million)
1. Cup
2. Stick
3. Cone
4. Brick
5. Others (Sandwich, Tub, etc.)
India Ice-Cream Market Size, By Sales Channel (USD Million)
1. Grocery Retailers
2. Hypermarkets/Supermarkets
3. Convenience Stores
4. Other Grocery Retailers
5. Brand Owned Outlets
6. Ice Cream Carts
7. Online
India Ice-Cream Market Size, By Region (USD Million)
1. North
2. South
3. West
4. East
5. North-East
India Ice-Cream Market Share, By Company
1. Competition Characteristics
2. Revenue Shares & Analysis
North India Ice-Cream Market Overview (2018-2032)
1. Market Size, By Value (In USD Millions)
2. Market Size, By Volume (In Million Liters)
3. Market Share, By Type
4. Market Share, By Flavors
South India Ice-Cream Market Overview (2018-2032)
1. Market Size, By Value (In USD Millions)
2. Market Size, By Volume (In Million Liters)
3. Market Share, By Type
4. Market Share, By Flavors
East India Ice-Cream Market Overview (2018-2032)
1. Market Size, By Value (In USD Millions)
2. Market Size, By Volume (In Million Liters)
3. Market Share, By Type
4. Market Share, By Flavors
West India Ice-Cream Market Overview (2018-2032)
1. Market Size, By Value (In USD Millions)
2. Market Size, By Volume (In Million Liters)
3. Market Share, By Type
4. Market Share, By Flavors
North-East India Ice-Cream Market Overview (2018-2032)
1. Market Size, By Value (In USD Millions)
2. Market Size, By Volume (In Million Liters)
3. Market Share, By Type
4. Market Share, By Flavors
Competitive Outlook (Company Profiles – Partial List)
1. Gujarat Co-operative Milk Marketing Federation Ltd
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
2. Hindustan Unilever Ltd
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
3. Creambell
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
4. Hatsun Agro Products Ltd
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
5. Mother Dairy Fruit & Vegetable Pvt Ltd
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
6. Vadilal Industries Ltd
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
7. Lotte India Corporation Limited
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
8. Dairy Classic Ice Creams Pvt Ltd
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
9. Baskin Robbins
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
10. Dinshaw’s
  1. Company Overview
  2. Business Segments
  3. Strategic Alliance/Partnerships
  4. Recent Developments
  5. Financials
11. Others (Giani, Haagen- Dazs, Natural’s, Nirula’s, Top’N Town, Treat Ice Cream)
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List of Figure

Figure 1: Market Segmentation Framework
Figure 2: Research Methodology Flowchart
Figure 3: Breakdown of Primary Interviews (by Designation, Region, and Industry Type)
Figure 4: India Ice-Cream Market Value (USD Million), 2020–2032
Figure 5: India Ice-Cream Market Volume (Million Liters), 2020–2032
Figure 6: India Ice-Cream Market, By Type (USD Million), 2020–2032
Figure 7: Share of Impulse, Single Portion Dairy, Take-Home Dairy, and Artisanal Ice Creams
Figure 8: India Ice-Cream Market, By Flavor (USD Million), 2020–2032
Figure 9: Flavor-Wise Market Share: Chocolate, Mango, Vanilla, Strawberry, Butterscotch, Others
Figure 10: India Ice-Cream Market, By Type of Serving (USD Million), 2020–2032
Figure 11: Serving Type Share: Cup, Stick, Cone, Brick, Others
Figure 12: India Ice-Cream Market, By Sales Channel (USD Million), 2020–2032
Figure 13: Sales Channel Share: Grocery Retailers, Hypermarkets/Supermarkets, Convenience Stores, etc.
Figure 14: Regional Market Share of Ice Cream in India (North, South, East, West, North-East)
Figure 15: India Ice-Cream Market Share, By Company
Figure 16: Price Comparison Between Major Ice Cream Brands in India
Figure 17: Key Consumer Preferences When Choosing Ice Cream Brands
Figure 18: North India Ice-Cream Market Value and Volume Trends (2018–2032)
Figure 19: North India Market Share by Type and Flavor
Figure 20: South India Ice-Cream Market Value and Volume Trends (2018–2032)
Figure 21: South India Market Share by Type and Flavor
Figure 22: East India Ice-Cream Market Value and Volume Trends (2018–2032)
Figure 23: East India Market Share by Type and Flavor
Figure 24: West India Ice-Cream Market Value and Volume Trends (2018–2032)
Figure 25: West India Market Share by Type and Flavor
Figure 26: North-East India Ice-Cream Market Value and Volume Trends (2018–2032)
Figure 27: North-East India Market Share by Type and Flavor
Figure 28: Competitive Landscape – Revenue Share of Key Players
Figure 29: Strategic Partnerships and Alliances of Major Companies
Figure 30: Company Financial Performance Snapshot (Gujarat Co-operative Milk Marketing Federation Ltd, HUL, etc.)

List of Table

Table 1: Study Objectives and Scope
Table 2: Product Definition and Classification
Table 3: Market Segmentation Details
Table 4: Study Variables and Definitions
Table 5: Secondary Data Sources
Table 6: Companies Interviewed for Primary Research
Table 7: Breakdown of Primary Interviews by Category
Table 8: Market Drivers and Challenges
Table 9: Opportunity Assessment Summary
Table 10: Recent Trends and Developments in the Ice Cream Market
Table 11: Key Factors Influencing Consumer Choice of Ice Cream Brands
Table 12: Price Comparison of Different Ice Cream Brands
Table 13: India Ice Cream Market Size (Value and Volume), 2020–2032
Table 14: Market Size by Ice Cream Type (USD Million)
Table 15: Market Size by Flavor (USD Million)
Table 16: Market Size by Type of Serving (USD Million)
Table 17: Market Size by Sales Channel (USD Million)
Table 18: Market Size by Region (USD Million)
Table 19: India Ice Cream Market Share by Company
Table 20: North India Market Size and Share by Type and Flavor
Table 21: South India Market Size and Share by Type and Flavor
Table 22: East India Market Size and Share by Type and Flavor
Table 23: West India Market Size and Share by Type and Flavor
Table 24: North-East India Market Size and Share by Type and Flavor
Table 25: Company Profiles Overview
Table 26: Gujarat Co-operative Milk Marketing Federation Ltd - Business Segments and Partnerships
Table 27: Hindustan Unilever Ltd - Business Segments and Partnerships
Table 28: Creambell - Business Segments and Partnerships
Table 29: Hatsun Agro Products Ltd - Business Segments and Partnerships
Table 30: Mother Dairy Fruit & Vegetable Pvt Ltd - Business Segments and Partnerships
Table 31: Vadilal Industries Ltd - Business Segments and Partnerships
Table 32: Lotte India Corporation Limited - Business Segments and Partnerships
Table 33: Dairy Classic Ice Creams Pvt Ltd - Business Segments and Partnerships
Table 34: Baskin Robbins - Business Segments and Partnerships
Table 35: Dinshaw’s - Business Segments and Partnerships
Table 36: Financial Overview of Major Players
Table 37: Others (Giani, Haagen-Dazs, Natural’s, Nirula’s, Top’N Town, Treat Ice Cream) – Summary

Top Key Players & Market Share Outlook

Gujarat Co-operative Milk Marketing Federation Ltd
Hindustan Unilever Ltd
Creambell
Hatsun Agro Products Ltd
Mother Dairy Fruit & Vegetable Pvt Ltd
Vadilal Industries Ltd
Lotte India Corporation Limited
Dairy Classic Ice Creams Pvt Ltd
Baskin Robbins
Dinshaw’s
Giani
Haagen- Dazs
Natural’s
Nirula’s
Top’N Town
Treat Ice Cream

Frequently Asked Questions

A. India Ice Cream Market is anticipated to witness a rise at a CAGR of around 14.5% during the forecast period, i.e., 2024-32.

A. The high seasonal demand & cultural traditions to drive the India Ice Cream Market through 2032.

A. The greater capital required for cold-chain & transportation systems to hinder the India Ice Cream Market.

A. The leading companies in India Ice Cream Market are Gujrat Co-operative Milk Marketing Federation Ltd, Hindustan Unilever Ltd, Devyani Food Industries Pvt Ltd, Hatsun Agro Products Ltd, Mother Dairy Fruit & Vegetable Pvt Ltd, Vadilal Industries Ltd, Haymor Food Pvt Ltd, Dairy Classic Ice Cream Pvt Ltd, Punjab State Cooperative Milk Producers Federation Ltd.