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India Ice Cream Market Share, Size, Trends, Growth, Forecast: By Type: Impulse Ice Cream, Take-Home Ice Cream, Artisanal Ice Cream; By Flavour: Chocolate, Fruit, Vanilla, Others; By Packaging Type: Cup, Stick, Cone, Brick, Others; By End Use; By Distributional Channel; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
India Ice Cream Market Outlook
The India ice cream market size reached a value of USD 3.46 billion in 2023. The market is further expected to grow at a CAGR of 15% between 2024 and 2032 to reach a value of approximately USD 12.17 billion by 2032.
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Ice cream is currently considered to be one of India's most popular desserts. Due to the prevailing hot and humid climate in the region, as well as the shift in customer food tastes, dessert sales are constantly increasing throughout the region. Maharashtra is one of the largest markets, accounting for almost 15% of the total India ice cream market share. It is being followed by Uttar Pradesh and Gujarat, among other major regions.
Market Segmentation
Ice cream refers to a frozen dessert made of milk, sugar, cream, eggs, berries, and flavours. This also includes stabilizers, like gluten, to ensure a smooth texture of the mixture. It is distinguished by a smooth, fluffy texture that is accomplished by rapidly shaking the frozen mixture to prevent the development of large ice crystals. Vanilla, chocolate, raspberry, strawberry, and butterscotch are among the most popular flavourings used in ice cream
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The major types in the market include:
- Impulse Ice Cream
- Take-Home Ice Cream
- Artisanal Ice Cream
Based on flavour, the India ice cream market is divided as follows:
- Chocolate
- Fruit
- Vanilla
- Others
The market, on the basis of packaging type, is segmented into:
- Cup
- Stick
- Cone
- Brick
- Others
On the basis of end use, the market is divided into:
- Retail
- Institutional and HoReCa
Based on distribution channel, the market is divided into:
- Supermarkets and Hypermarkets
- Ice Cream Parlours
- Convenience Stores
- Online
- Direct Selling
The regional markets for ice cream in India are:
- North India
- East and Central India
- West India
- South India
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Market Analysis
India is among the world's largest manufacturers of dairy products, which is a major driver for the India ice cream market. In addition, rapid urbanisation as well as growing per capita income rates, have opened up growth opportunities for the country's premium ice cream variants. Consumers are eager to experiment with new flavours and styles that have led to the introduction of a wide range of products in the market, like sundaes.
In addition, regional and conventional flavour variants are rapidly gaining popularity in the market. The availability of wide range of flavours including exotic Indian flavours like Anjeer, Badam, Kesar, Pista, Nolen Gur, and Rajbhog as well as several kulfi variants like Rabri, Faluda And Matka Kulfi, is driving the market further. In addition, the expansion of online retail channels, offering easy shopping, a wide range of flavours, and a reasonable price point, along with improvements in the infrastructure of the cold chain, also contributes significantly to the development of the industry. Other factors, including the emergence of intense competition between leading domestic and international market players and the launch of gluten-free and vegan variants, are also propelling the growth of the India ice cream market.
The report gives a detailed analysis of the key players in the India ice cream market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds. The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
The key players in the India ice cream market are:
- Gujarat Co-operative Milk Marketing Federation Ltd
- Vadilal Industries Ltd
- Mother Dairy Fruit & Vegetable Pvt Ltd
- Hindustan Unilever Limited
- Devyani Food Industries Ltd
- Graviss Foods Pvt Ltd
- Dinshaws Dairy Foods Pvt. Ltd
- Havmor Ice Cream Pvt Ltd
- Ramani Icecream Company Limited
- Dairy Classic Ice Creams Pvt. Ltd.
- General Mills Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Flavour |
|
| Breakup by Packaging Type |
|
| Breakup by End Use |
|
| Breakup by Distributional Channel |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Ice Cream Market Overview
8.1 Key Industry Highlights
8.2 Global Ice Cream Historical Market (2018-2023)
8.3 Global Ice Cream Market Forecast (2024-2032)
8.4 Global Ice Cream Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 India Ice Cream Market Overview
9.1 Key Industry Highlights
9.2 India Ice Cream Historical Market (2018-2023)
9.3 India Ice Cream Market Forecast (2024-2032)
10 India Ice Cream Market by Type
10.1 Impulse Ice Cream
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Take-Home Ice Cream
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Artisanal Ice Cream
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 India Ice Cream Market by Flavour
11.1 Chocolate
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Fruit
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Vanilla
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 India Ice Cream Market by Packaging Type
12.1 Cup
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Stick
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Cone
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Brick
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 India Ice Cream Market by End Use
13.1 Retail
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Institutional and HoReCa
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 India Ice Cream Market by Distributional Channel
14.1 Ice Cream Parlours
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Supermarkets and Hypermarkets
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Convenience Stores
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Online
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Direct Selling
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
15 India Ice Cream Market by Region
15.1 North India
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 East and Central India
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 West India
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
15.4 South India
15.4.1 Historical Trend (2018-2023)
15.4.2 Forecast Trend (2024-2032)
16 Market Dynamics
16.1 SWOT Analysis
16.1.1 Strengths
16.1.2 Weaknesses
16.1.3 Opportunities
16.1.4 Threats
16.2 Porter’s Five Forces Analysis
16.2.1 Supplier’s Power
16.2.2 Buyer’s Power
16.2.3 Threat of New Entrants
16.2.4 Degree of Rivalry
16.2.5 Threat of Substitutes
16.3 Key Indicators for Demand
16.4 Key Indicators for Price
17 Value Chain Analysis
18 Manufacturing Process
19 Price Analysis
20 Project Details, Requirements and Costs Involved
20.1 Land Requirements and Expenditures
20.2 Construction Requirements and Expenditures
20.3 Plant Machinery
20.4 Raw Material Requirements and Expenditures
20.5 Packaging Requirements and Expenditures
20.6 Transportation Requirements and Expenditures
20.7 Utility Requirements and Expenditures
20.8 Manpower Requirements and Expenditures
20.9 Other Capital Investments
21 Loans and Financial Assistance
22 Project Economics
22.1 Capital Cost of the Project
22.2 Techno-Economic Parameters
22.3 Product Pricing and Margins Across Various Levels of the Supply Chain
22.4 Taxation and Depreciation
22.5 Income Projections
22.6 Expenditure Projections
22.7 Financial Analysis
22.8 Profit Analysis
23 Competitive Landscape
23.1 Market Structure
23.2 Company Profiles
23.2.1 Gujarat Co-operative Milk Marketing Federation Ltd
23.2.1.1 Company Overview
23.2.1.2 Product Portfolio
23.2.1.3 Demographic Reach and Achievements
23.2.1.4 Certifications
23.2.2 Vadilal Industries Ltd
23.2.2.1 Company Overview
23.2.2.2 Product Portfolio
23.2.2.3 Demographic Reach and Achievements
23.2.2.4 Certifications
23.2.3 Mother Dairy Fruit & Vegetable Pvt Ltd
23.2.3.1 Company Overview
23.2.3.2 Product Portfolio
23.2.3.3 Demographic Reach and Achievements
23.2.3.4 Certifications
23.2.4 Hindustan Unilever Limited
23.2.4.1 Company Overview
23.2.4.2 Product Portfolio
23.2.4.3 Demographic Reach and Achievements
23.2.4.4 Certifications
23.2.5 Devyani Food Industries Ltd
23.2.5.1 Company Overview
23.2.5.2 Product Portfolio
23.2.5.3 Demographic Reach and Achievements
23.2.5.4 Certifications
23.2.6 Graviss Foods Pvt Ltd
23.2.6.1 Company Overview
23.2.6.2 Product Portfolio
23.2.6.3 Demographic Reach and Achievements
23.2.6.4 Certifications
23.2.7 Dinshaws Dairy Foods Pvt. Ltd
23.2.7.1 Company Overview
23.2.7.2 Product Portfolio
23.2.7.3 Demographic Reach and Achievements
23.2.7.4 Certifications
23.2.8 Havmor Ice Cream Pvt Ltd
23.2.8.1 Company Overview
23.2.8.2 Product Portfolio
23.2.8.3 Demographic Reach and Achievements
23.2.8.4 Certifications
23.2.9 Ramani Icecream Company Limited
23.2.9.1 Company Overview
23.2.9.2 Product Portfolio
23.2.9.3 Demographic Reach and Achievements
23.2.9.4 Certifications
23.2.10 Dairy Classic Ice Creams Pvt. Ltd.
23.2.10.1 Company Overview
23.2.10.2 Product Portfolio
23.2.10.3 Demographic Reach and Achievements
23.2.10.4 Certifications
23.2.11 General Mills Inc.
23.2.11.1 Company Overview
23.2.11.2 Product Portfolio
23.2.11.3 Demographic Reach and Achievements
23.2.11.4 Certifications
23.2.12 Others
24 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Ice Cream Market: Key Industry Highlights, 2018 and 2032
2. India Ice Cream Market: Key Industry Highlights, 2018 and 2032
3. India Ice Cream Historical Market: Breakup by Type (USD Million), 2018-2023
4. India Ice Cream Market Forecast: Breakup by Type (USD Million), 2024-2032
5. India Ice Cream Historical Market: Breakup by Flavour (USD Million), 2018-2023
6. India Ice Cream Market Forecast: Breakup by Flavour (USD Million), 2024-2032
7. India Ice Cream Historical Market: Breakup by Packaging Type (USD Million), 2018-2023
8. India Ice Cream Market Forecast: Breakup by Packaging Type (USD Million), 2024-2032
9. India Ice Cream Historical Market: Breakup by End Use (USD Million), 2018-2023
10. India Ice Cream Market Forecast: Breakup by End Use (USD Million), 2024-2032
11. India Ice Cream Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
12. India Ice Cream Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
13. India Ice Cream Historical Market: Breakup by Region (USD Million), 2018-2023
14. India Ice Cream Market Forecast: Breakup by Region (USD Million), 2024-2032
15. India Ice Cream Market Structure
Key Questions Answered in the Report
The India ice cream market reached a value of USD 3.46 billion in 2023.
The market is projected to grow at a CAGR of nearly 15% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 12.17 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, rapid urbanisation, ease of availability, expanding distribution channels, and the rising competition between the key players.
The availability of a wide range of flavours, as well as the launch of gluten-free and vegan variants, is expected to be a key trend guiding the growth of the industry.
North India, East and Central India, West India, and South India, are the leading regions in the market, with Maharashtra accounting for the largest market share.
The major types can be divided into impulse, take-home, and artisanal ice cream.
The major flavours include chocolate, fruit, and vanilla, among others.
The most significant packaging types of ice cream in the market are cup, stick, cone, and brick, among others.
The leading end uses of ice cream in the market are retail and institutional and HoReCa.
The major distribution channels in the market are supermarkets and hypermarkets, ice cream parlours, convenience stores, online, and direct selling.
The major players in the market are Gujarat Co-operative Milk Marketing Federation Ltd, Vadilal Industries Ltd, Mother Dairy Fruit & Vegetable Pvt Ltd, Hindustan Unilever Limited, Devyani Food Industries Ltd, Graviss Foods Pvt Ltd, Dinshaws Dairy Foods Pvt. Ltd, Havmor Ice Cream Pvt Ltd, Ramani Icecream Company Limited, Dairy Classic Ice Creams Pvt. Ltd., and General Mills Inc., among others.
Analyst Review
The India ice-cream market attained a value of USD 3.46 billion in 2023 driven by the rising urbanisation and increasing diversification of product. Aided by the improvements in the infrastructure of the cold chain, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 15%. The market is projected to reach USD 12.17 billion by 2032.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market can be segmented into impulse ice cream, take-home ice cream, and artisanal ice cream. By flavour, the market can be divided into chocolate, fruit, and vanilla, among others. On the basis of end use, the market is categorised into retail and institutional and HoReCa. Based on packaging type, the market can be segmented into cup, stick, cone, and brick, among others. By distribution channel, the market is segmented into supermarkets and hypermarkets, ice cream parlours, convenience stores, online, and direct selling. The major regional markets are North India, East and Central India, West India, and South India. The major players in the market are Gujarat Co-operative Milk Marketing Federation Ltd, Vadilal Industries Ltd, Mother Dairy Fruit & Vegetable Pvt Ltd, Hindustan Unilever Limited, Devyani Food Industries Ltd, Graviss Foods Pvt Ltd, Dinshaws Dairy Foods Pvt. Ltd, Havmor Ice Cream Pvt Ltd, Ramani Icecream Company Limited, Dairy Classic Ice Creams Pvt. Ltd., and General Mills Inc., among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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