Impulse Ice Cream Category to Dominate India Ice Cream Market until 2023
Rising
purchasing power, growing middle class household base, changing consumer taste
and preferences, and growing demand for premium ice creams to drive ice cream
market in India through 2023
According to TechSci Research report, “India Ice Cream Market By Category, By Product Type, By
Distribution Channel, Competition Forecast & Opportunities, 2013-2023”, India ice cream market is forecast to
cross $ 1.25 billion by 2023, on account of increasing number of modern ice
cream retail formats and brands. Continuing changes being witnessed in the
consumption pattern of ice creams, increasing demand for new ice cream flavors,
growing number of cold storage facilities and increasing purchasing power are
some of the major market drivers. Moreover, India is the largest producer of
milk, with annual production of more than one-fifth of the global milk
production. This offers huge opportunities to players operating in India ice
cream market, ensuring access to ample amount of the main raw material required
to produce ice cream.
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Ice Cream Market"
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Amul, Mother Dairy, Havmor and Vadilal
are some of the leading players operating in India ice cream market. West India
is the largest demand generating region for ice creams in India, predominantly due
to weather conditions, which favor the consumption of ice cream, and the fact
that the country’s dairy industry, of which ice cream is a part, has its roots
in the region. The western region is expected to continue witnessing high ice
cream sales during the forecast period as well, with all major players such as Gujarat
Cooperative Milk Marketing Federation Ltd. (Amul), Havmor Ice Cream India Ltd.,
Vadilal Industries Ltd., etc., operating in the region. Ice cream market in
India is also growing on account of changing demographics of the country such
as growing urban population, increasing number of middle class households, and
expanding young working-class population base.
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India ice cream market comprises of
impulse ice cream, take-home ice cream, bulk ice cream and artisanal ice cream
segments. Of these segments, impulse ice cream held the highest revenue share
in 2017, due to its wide product offerings and changing preference of consumers
towards impulse buying. Traditional flavors offered by the players are gaining
momentum and attracting more consumers than the classic western flavors, thus
driving the demand for ice creams in the country. “Rising impulse purchases,
availability of region-specific, age-specific flavors, introduction of value
added products, premiumization of ice cream products via brands such as Baskin
Robbins, Haagen-Dazs, London Dairy, etc., along with expanding distribution
networks is anticipated to propel demand for ice creams in India over the next five
years. Further, with new innovations
in packaging and natural flavors, leading domestic and international ice cream
players are adopting aggressive advertising & marketing strategies, thereby
increasing their brand value in the
country’s ice cream market.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“India
Ice Cream Market By Category, By Product Type, By Distribution Channel,
Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of ice
cream market and provides statistics and information on market structure, size,
share and trends. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in India ice cream
market.
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