India’s ice cream industry is experiencing a golden era, fuelled by a discerning consumer base and a diverse array of offerings. With an estimated worth of Rs. 30,000 crore, the sector is witnessing a gush in demand for innovative and health-conscious products.
Amidst the colourful display of frozen delights at an ice cream parlour, there is tantalizing assortment of bars, sundaes, gelatos, and more, which not only reflects the booming market but also underscores the burgeoning appetite for novel and indulgent treats.
As temperatures soar, so does the appetite for refreshing indulgences, driving the predicted 13–15% annual growth of the Indian ice cream industry. Established giants like Amul, Vadilal, and Kwality Walls are upping their game, while regional and artisanal brands are enthusiastically entering the fray. International players such as Häagen-Dazs and Ben & Jerry’s are also capitalizing on the adventurous palates of well-travelled consumers.
The evolving landscape of consumer preferences is evident in the shift towards healthier options, with low-fat, low-sugar, and even diabetic-friendly varieties gaining traction. Charanjit Singh Basant, MD of Basant Ice Creams, notes the changing tide, highlighting the increasing demand for reduced-sugar and lower-fat alternatives.
Beyond health consciousness, there’s a growing emphasis on functional ingredients, with ice creams fortified with vitamins, minerals, and probiotics gaining popularity. Sudhir Shah, President of the Indian Ice Cream Manufacturers Association, underscores this trend, noting consumers’ interest in transparent labelling and natural ingredients.
Mohit Khattar, CEO of Graviss Foods Pvt Ltd-Baskin Robbins, observes a shift in consumption patterns, with ice creams transitioning from occasional treats to everyday indulgences. The snacking segment, in particular, is witnessing increased attention, with innovative offerings like fruitinis catering to evolving consumer preferences.
Despite the diverse landscape, impulse purchases remain a cornerstone of the market, with affordable options driving over 70% of overall sales. From street vendors to upscale parlours, the ice cream industry caters to a wide spectrum of consumers, each with distinct preferences and priorities.
As the industry continues to expand, artisanal startups are making their mark, offering niche products tailored to specific dietary needs and flavour preferences. Gurpreet Singh, representing Giani’s, anticipates significant growth in the coming years, fueled by innovation and evolving consumer tastes.
While concerns linger regarding the nutritional profile of frozen desserts, industry experts remain optimistic about the sector’s trajectory. With a forecasted growth rate of 15% and a burgeoning market for artisanal offerings, India’s ice cream industry is poised for continued success, offering consumers an ever-expanding array of indulgent delights.