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 which give the mixture a consistent texture. Ice cream today represents one of the fastest growing food segments in India. A recently released report by IMARC Group, titled “Ice Cream Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, critically examines the Indian ice cream market. The report finds that the market reached a value of around INR XX Billion in 2017, exhibiting a CAGR of 14% during 2010-2017. The healthy growth of the market can be attributed to numerous forces. Population growth, rising disposable incomes, urbanisation rates, changing consumer preferences, improved cold supply chain and growing deep freezer penetration are some of the factors that are broadening the growth aspects of the market. According to the report, the market is further expected to reach a value of INR 235 Billion by 2023, growing at a CAGR of XX% during 2018-2023.
The report has examined the Indian ice cream market in 15 major states:
For each of the states, the report provides a thorough analysis of the current and historical value and volume trends, market share of key players and market forecast. Currently, Maharashtra represents the largest market, accounting for nearly XX% of the total share. It is followed by Uttar Pradesh and Gujarat. 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 market in any manner.
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