India’s ice cream industry is on a fast track to growth, with the market expected to reach Rs. 45,000 crore in the next three years, according to the Indian Ice Cream Manufacturing Association (IICMA). The sector has already expanded fourfold over the past decade, and experts predict it will cross Rs 90,000 crore within eight years.
Rising disposable incomes, increased urbanization, and evolving consumer tastes have been key drivers behind this remarkable growth. Additionally, stable prices for essential ingredients like milk solids and packaging materials have enabled manufacturers to maintain competitive pricing while improving profitability.
“Consumers are now exploring premium, health-focused, and innovative ice cream options,” the IICMA said in a statement. The surge in demand has prompted brands to introduce plant-based, low-sugar, and high-protein variants to cater to changing preferences.
Government incentives for investments in the food processing sector have further bolstered the industry’s expansion, attracting both domestic and international investors. The demand for ice cream is particularly strong in tier-1 and tier-2 cities, where lifestyle changes are influencing consumption patterns.
In a bid to celebrate the sector’s achievements, IICMA has declared March 27 as ‘Ice Cream Day.’ The inaugural event was launched by Minister of State for Animal Husbandry and Dairying, S P Singh Baghel.
IICMA represents a wide range of ice cream producers across India, including major brands such as Kwality and Havmor, reflecting the industry’s significant presence in the country’s food landscape.