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Ice Cream Market in India to Reach INR 375.8 Billion by 2024, Spurred by Emerging Trend of Premiumization

As per the latest report by IMARC Group, titled “Ice Cream Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the ice cream market in India size grew at a CAGR of 16.9% during 2011-2018. Ice cream is a frozen dessert which is prepared by mixing milk, cream, sweeteners, eggs, fruits and flavors. It also contains stabilizers including gluten to provide a consistent texture to the mixture. It is characterized by a soft, creamy texture which is achieved by quickly stirring the frozen mixture to avoid the formation of large ice crystals. Some of the most common flavorings used in ice cream are vanilla, chocolate, mango, strawberry and butterscotch. Currently, ice cream is considered one of the most popular desserts in India. Owing to the hot and humid climate prevalent in the country, along with a shift in consumer’s food preferences, the sales of the dessert are constantly booming across the region.

Indian Ice Cream Market Trends:

India is one of the largest producers of dairy products in the world, which is a fundamental factor driving the market for ice cream in the country. Additionally, rapid urbanization and inflating per capita income levels have created a distinctive space for premium ice cream variants in the country. Consumers are inclining toward experimenting with new flavors and types, which has led to the launch of a wide range of products in the market, such as sundaes and parfait. Also, variants with regional and traditional flavors are steadily gaining traction in the Indian ice cream market. Anjeer badam, kesar pista, nolen gur, rajbhog, and several kulfi variants including rabri, faluda and matka kulfi are some of the extremely popular traditional ice cream variants in the country. Moreover, the proliferation of online retailing of ice cream offering convenient shopping, wide array of flavors, and better price point, along with advancements in the cold chain infrastructure, is also contributing significantly to the market growth. Other factors such as the presence of intense competition between the leading domestic and international market players and the introduction of gluten-free and vegan variants are also creating a positive outlook for the ice cream market in India. On account of the aforementioned factors, the market is expected to reach a value of INR 375.8 Billion by 2024.              

Market Summary:

  • On the geographical front, the market has been divided into Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar, and Orissa. Amongst these, Maharashtra holds the leading position in the market.
  • The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market.

 

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