The Indian ice cream market has experienced remarkable growth, expanding four-fold over the past decade. According to data from the Indian Ice Cream Manufacturing Association (IICMA), the market is projected to reach ₹45,000 crore in the next three years, reported Business Standard.
Although ice cream sales are seasonal, the market has surged due to factors such as rising disposable incomes, shifting consumer preferences, and an expanding distribution network.
“Ice cream consumption in India has increased four-fold over the past ten years. This sector is expected to reach ₹45,000 crore in the next three years and more than ₹90,000 crore in the next eight years,” said an IICMA statement.
The market’s growth has been supported by the stable prices of essential ingredients like milk solids and packaging materials, which have allowed manufacturers to maintain competitive pricing and boost profitability.
“Consumers are increasingly drawn to premium, health-conscious, and innovative flavors. As a result, brands are introducing plant-based, low-sugar, and high-protein ice creams,” the association noted.
In addition, the government is offering incentives for investments in the food processing sector, which further boosts the industry’s appeal.
“This strategic focus positions India as an attractive investment destination for both domestic and international investors eager to tap into the growing ice cream market. Factors such as rising disposable incomes, urbanization, and shifting consumer tastes are driving demand, particularly in tier-1 and tier-2 cities,” the IICMA added.
The association has designated March 27 as Ice Cream Day, with an inaugural event officially launched by the Minister of State for Animal Husbandry and Dairying, S.P. Singh Baghel.
IICMA represents ice cream manufacturers nationwide, with major producers like Kwality and Havmore among its members.
