This year’s summer in India has been exceptionally scorching. The warmest March in 122 years was followed by even hotter spells in April. According to the India Meteorological Department, April was the warmest month in northwest and central India and the third-hottest April in the country’s 122-year history, from 1901 to 2022.
Let’s eat to beat the heat. Of course, ice cream!!!!* As demand for ice cream and cold beverages grows, India’s consumer firms are planning marketing campaigns and developing new products to debut in the market for today and next year.* Consumer goods firms are hoping that the summer season will bring happiness and provide a break from the pandemic’s related fear and lethargy.* Some top organisations have already seen a 50% increase this summer and are anticipating even better years ahead.
In 2020, the worldwide ice cream market was worth USD 69.79 billion. The market is expected to grow at a CAGR of 4.58 percent between 2021 and 2028, from USD 71.52 billion in 2021 to USD 97.85 billion in 2028.
According to the research and analytics firm Expert Market Research, the Indian ice cream market is predicted to develop at a CAGR of 14% between 2021 and 2026, reaching a value of $442 billion by 2026.
The COVID-19 rampant devastated companies of all sizes and types. However, the worst hit was faced by the ice cream and chilled beverage industries.
The sector was badly harmed as a result of many nationwide lockdowns and the closure of consumer markets. A widespread rumour associating ice cream with an increased risk of COVID-19 exacerbated the situation. While the World Health Organization (WHO) did intervene to quell the rumours, the harm had already been done.
After two years of wallowing in shutdown troubles and their ramifications, ice cream companies have reason to rejoice this summer. As customers seek comfort from the searing heat, consumer firms are reporting a surge in demand for ice cream.
According to a Mother Dairy spokesperson, sales of the company’s milk-based ice creams and dairy-based beverages have increased by more than 50% “due to early summers and subsequent rise in temperatures, an increased number of distribution assets coupled with the opening of restaurants, offices, educational institutions, and so on.”
On account of anonymity, a large dairy firm believes that this summer, in its present trajectory, would add more impetus and be “one of the finest seasons for the ice cream and cold drinks market.”
“To keep our customers engaged this season, we’re releasing ten new ice cream flavours, with the highlight being our shahi kulfi collection, which includes four new royal Indian flavours: Phirni, Paan, Malai, and Pista.” “Dairy-based beverage consumption is expanding across all channels,” the spokesman noted, “with thirst-quenching goods like chaach (buttermilk) and lassi (buttermilk) leading the pack.”
Similarly, the summer months are the busiest for Keventers, a milkshake and ice cream shop. Due to the early arrival of summer and extreme heat waves throughout large parts of the country, Keventers’ co-founder Aman Arora revealed that the business witnessed its ‘biggest sales’ in April this year.
“We’ve seen a big uptick in sales, and we’re optimistic that this trend will continue.” Cold coffees and chocolate milkshakes have been the most popular items, but we’ve also seen interest in our newly introduced ice creams. “Our goal is to make Keventers a year-round attraction, not to limit it to a summer destination,” Arora added.
Baskin-Robbins, the world’s largest ice cream and dessert company, is increasing its marketing efforts to reach a wider audience in order to capitalise on this increase in demand.
“This summer, our costs are likely to be at least 20% higher than last year,” Raghav Ravichandar, Baskin Robbins’ general manager of marketing, said. While our sales in 2020–21 were lower than in prior years, the recovery in 2021–22 was both astonishing and incredibly fulfilling. We’re back on track to grow in the high double digits. “
Ice Cream Times was in touch with some top ice cream brands in India and the allied industry to learn more about their summer sales, development, and expansion plans.
Working on a tight schedule and to capacityInforming Ice Cream Times newspaper, MD of Amul, R.S. Sodhi, postulated, “All of our production plants, as well as all three shifts, are currently operating at full capacity.” Earlier this year, due to early summer and high demand, we thought we wouldn’t be able to meet demand, but we did. Our reserved inventories got depleted early. To make up for the consumer market, we pooled all our efforts, our plants and production division to function at their fullest to cater to the impulsive increased demand.
“This is because, on an average, we begin planning for the next summer season in December of the preceding year. Hence, with this planning, the demand-supply chain was well-handled with ease”.
Speaking on the sub-topic, Sudhir Shah, MD, Scoops ice cream, Hyderabad, responded in a very progressive manner, “Yes, the market growth this year has exceeded expectations, and we are employing our resources to the fullest extent possible.” With a projected increase in market demand next year, we anticipate a 15–25% increase in demand.
On the condition of anonymity, an executive from a well-known brand stated that the ice cream sector may expand by roughly 30% over the COVID period sales of FY 20/21 and FY 21/22. COVID has had a significant impact on ice cream sales in the previous two years.
We might see a 10% to 15% increase in sales compared to the pre-Covid timeframe. The ice cream sector is under strong headwinds. All the main raw and packaged materials have seen considerable price increases. The power situation is problematic in various sections of the country, which is affecting ice cream sales.
L.K. Narsimhan is the director of Fab Dairy & Trading (India) Pvt. Ltd. According to him, “Initially, with this year’s sweltering summer, we were operating in full swing until the first week of May, with great demand for ice cream.” But Bangalore faced a continuous downpour. Heavy rain continued to wreak havoc in various parts of Karnataka for three-four consecutive days, interrupting regular life and forcing people to stay at home, resulting in lower demand and consumption of the summer’s favourite treat”.
Maulin Surti from Vadilal Ice Cream replied, “We at Vadilal think that ice cream is a universally loved product, and we’ve worked effortlessly hard to maintain this position in your heart by giving you lip-smacking, flavourful ice creams and frozen sweets in a variety of shapes.” This summer, we’ve added five new flavours (Gulab Jamun, Alphonso Mango, Kesar Pista, Classic Malai, and Falooda) as well as two new kulfi flavours (Badam Pista Kesar and Rajwadi). Ice cream enthusiasts have enjoyed the best of this summer with Gourmet Naturals, and can now bring the best of nature home and have a lovely experience. Because of the endless demand for ice cream, Vadilal has kept the entire production plant running at 80 percent of its peak capacity this season.
Keval D. Bhuva, Director, Sheetal Ice Cream, acquainted us with his valiant reply. “Ice cream is more than simply a product. They are delightful tubs, created with a lot of love and enjoyment. We’ve tried hundreds of flavours over the years and received a lot of positive feedback from our customers. Today, our items scream joy, pleasure, and nostalgia all at the same time! We’ve taken some time-honoured recipes and given them our own spin.
“Yes, 2022 brought the ice cream season early and so did the response from consumers.” The frantic citizens chose the coolest treat on the planet and rushed to the nearest outlet available to reach for their favourite ice cream. This surge in demand made the manufacturers run to feed their production, making them all operate at their full capacity, and Sheetal Ice Cream is no exception! To meet this rising demand, Sheetal Ice Cream is currently operating at 70% + capacity. “
The concept and cost-effectiveness of the product brought Pradeep Pai on the path of realizing the ice-cream dream through Hangyo Ice Cream, headquartered in Karnataka. Pai said this season, most companies have increased prices by 5–10% due to rising input costs. The Hangyo sales from March to June contribute to 45–50% of the annual turnover of ice cream makers, with Maharashtra, Uttar Pradesh, Delhi NCR, Gujarat, Andhra Pradesh, Telangana, and Tamil Nadu being the top ice cream consuming states operating at full capacity.
Siddhant Kamath (Director), Naturals Ice Cream, Mumbai, said, “As this is the first summer season after the two-year epidemic, we are working at maximum and surplus capacity. In addition, there has been a tendency for revenge buying, which has coincided with an increase in ice cream consumption due to the heat wave. We believe that demand will rise again next year since indulgence is a habit that is cultivated on a regular basis. Therefore, we are optimistic that demand will rise again next year.
Providing the space to Punit Tahalani, Director, Golden Ice Cream, “We are pleased to witness the resurgence of the ice cream and frozen desserts business this year after two years of no sales,” he said. Due to COVID regulations, many families have postponed weddings and other major celebrations. This year, the wedding season is expected to make a significant contribution to overall market sales growth. We also expect the market to increase at a similar rate since individuals have been confined to their homes for a long time. Many individuals avoided ice cream
and frozen treats during the crisis because they were afraid to eat them. This year’s summers have been great, and people are consuming them freely, which has resulted in a significant boost in sales. “
Then we had brand Dinshaw Ice Cream’s MD, Sushil Kumar Verma, who informed us that his company too was working at full capacity.
“This year took us all by surprise as we experienced early summer. Many consumer companies witnessed a 50% increment in sales. And as a result, we are now operating at full capacity at the ice cream factory, and we anticipate a 15% increase in sales next year.
When we contacted Charanjit Singh Basant of Ludhiana’s Basant Ice Cream, we received a positive response. “The enterprise is producing 30,000 litres per day at full capacity. This year’s summer has been a windfall for us, and demand is increasing with each passing day”, said Basant.
This year has been fantastic for making up for the losses in COVID lockdown. This year, the mercury level has skyrocketed, resulting in the popularity of cold foods. According to Anil Patodi, President of the Maharashtra Ice Cream Manufacturers Association and Chief Patron of the Small Scale Ice Cream Manufacturers Association of India, inhabitants of the Aurangabad district sold ice cream worth Rs. 75-80 crores in five months.
“In India, the ice cream industry is expected to grow to Rs. 30,000 crores from Rs. 20,000 crores. Every Indian state is performing admirably. Purchases have increased in rural areas, but sales have stalled due to regular power outages. Overall, revenue has increased, but profit margins have shrunk due to inflation”,added Patodi.
Estimating the sales projections for next yearThe estimates of the sales projections for the coming year largely depend on certain factors. We certainly have double-digit annual growth, but it is less than that of other food products, which have lost 8-9 percent in the last two years. But I am sure consumption will definitely improve and we look forward to better sales, said Sodhi.
If demand rises, so will the expansion. To meet rising demand, we will need to boost not only material production but also expand through the installation of new machinery, factories, and regional growth. This means vertical as well as horizontal growth contributing towards economic development. Sodhi explained that “expansion is a constant process; we continue to increase our capacity not just this year but every year.”
“Capital management is a significant task. So, based on the management team’s analytical report and the opinions of the members, we will proceed with capacity expansion for the coming season. “The study’s findings will influence future decisions,” reached out Sudhir Shah.
By the word of the anonymous official, the financial positions of several players were badly impacted during COVID, and it may take some time for the balance sheets to heal. High fuel costs have substantially increased distribution costs. The recent clarification on taxation on ice cream parlours has resulted in higher prices for the consumer, which is negatively impacting sales.
A very large number of deep freezers were not in use for the last two years and need to be refurbished, or huge fresh investments have to be made in expanding the distribution network. High inflation is likely to lead to less disposable income for discretionary items like ice cream. “The sword of a new mutant of the virus keeps hanging above our heads.”
Anil Patodi wrote that, following the removal of the COVID-19 rules, marriages, hotel businesses, and festivities have provided enormous delight to people. After a two-year hiatus, people are gathering and eating ice cream. Getting involved in other people’s happiness provides unparalleled satisfaction. If this year goes well, the firms intend to expand further and carry forward experience to the next year. This is a good opportunity for milk and fruit producers as they can have a side business.
This year’s sales have been excellent after a two-year hiatus, and we anticipate a 15 to 20% increase in value for the following season. “Our ice cream plants are running at 80 percent of their peak capacity to meet demand this year,” said Maulin.
Narsimhan revered the start of the season, “We had already boosted production capacity by 40–45 percent, giving us the best performance since the pandemic’s reopening of the new consumer market.” Yes, I can certainly state that, given this year’s increased spending trend, we expect the following year to be much better.
Considering the sales of this year, next year too can be predicted. Keval added, “Yes, we are determined to increase it next year.” With the threat of a pandemic no longer present, it was projected that ice cream consumption would increase next year, and we are hoping for the same too.
“We are seeing a boom in the consumption capacity today, and next year’s sales can be anticipated,” replied Charanjit. “We are planning to extend it up to 1,00,000 litres per day, so that we meet the demand without any pause or stoppage.”
Harmonizing with others about the next year sales, Sushil gave his assurance, “Yes, we intend to increase our production capacity based on demand-supply situation. We expect sales to increase by about 15% next year.
“Yes, next year demand will climb since people are no longer afraid of the epidemic, and for the future season, we will have to boost our production level to fulfil the demand,” Pradeep Pai replied, referring to this year’s sales pattern. We need to plan ahead of time for our production stock.
Siddhant replied with a nod of affirmation, “Yes, we intend to increase our capacity, and for that we are working to open a sister production plant near our factory so that we can inaugurate the facility by next summer season, which will be an additional boost for us.”
Punit responded in the same way as the others when asked the same question. “We’re focusing on providing the finest of our products while running our factory at maximum capacity. To do this, we reorganised our machinery and created additional work space to increase our production capacity. This year, we’re introducing a vanilla sandwich and a few more new flavours to meet the demand for new flavours.”
“As a part of our expansion plan for 2023, we will be adding freezers, a candy line, and cold rooms so that we can meet the increasing demand for our products. This should add to a good increase in our production capacity,” Punit added.
What is the per capita consumption of ice cream in India?Although ice-cream consumption per capita is lower than in other large markets, it is expanding at a CAGR of about 10-15%. This increase is, and will continue to be, a driving force, particularly in the branded and new/innovative categories. With the growing consumer base, increasing disposable income, and greater trend toward eating-out, the market is poised to incorporate bigger players.
Sodhi says, “In terms of per capita consumption, as compared to the United States or other European countries, India is a very beneficial country for consumption, and the trend is fast-growing.” India will soon be a very competitive nation in ice cream consumption because, at present, an average Indian’s per capita consumption is roughly 450-500ml.
Having a surplus of SMP has greatly aided ice cream manufacturers in meeting rising demand without any inconsistencies or pricing increases, not only for ice cream but for the entire dairy industry— Sodhi
According to some survey reports, the per capita consumption of ice cream in India is currently 400-500 ml, which is considered a good sign of increasing every year, writes Sudhir Shah.
Yes, Vadilal will surely plan something in terms of expansion, but in terms of per capita consumption, we do not see a substantial growth trend, as admitted by Maulin.
Said Sushil, “Yes, undoubtedly, ice cream consumption is increasing in India but marginally.” Right now, per capita consumption of ice cream is around 480ml based on today’s scenario.
Narsimhan, “If we consider the present per capita consumption of an average Indian, it is around 400 ml and may go up to 450 ml,” anticipated Narsimhan. “Sales expectations for next year look promising, and we hope to deliver our best.”
Ice cream consumption eventually increased by 15–20 percent. The present per capita consumption is 400 ml, rejoined Pradeep Pai.
Charanjit, giving his frank opinion, said, “I believe we are still at the lower level of per capita consumption.”
Punit remarked, “In India, ice cream consumption has grown several times since ice cream and frozen desserts are now readily available in practically every grocery store, supermarket, restaurant, café, ice cream parlour, hotels, banquets, schools, amusement parks, pushcarts, and other locations.” As a result, customers have become accustomed to eating ice cream on a regular basis, resulting in a rise in ice cream consumption per capita. This has made consumers accustomed to eating ice cream frequently, resulting in an increase in the per capita consumption of ice cream. We are expecting a 40 to 50% rise in sales this year and hope that the same continues in the coming years.
According to Keval, with the heat right above our heads, the temperature is on the rise. Our sector has faced several unspoken challenges as a result of the world-crisis, but consumption has remained unaffected. India’s annual ice cream consumption is presently around 400 millilitres per capita.
Sushil articulated that though ice cream consumption is increasing in India, it is increasing marginally. Right now, per capita consumption of ice cream is around 480ml based on today’s scenario.
Siddhant is of the view that, “Ice cream consumption will continue to rise in India because, as we have seen, middle-class disposable income has been increasing at a healthy rate.” We also know that India is a very young country, with the average age of Indians ranging from 25 to 35 years, which is the age group that enjoys ice cream, making it an ideal target audience for us.
Also, ice cream is becoming more accessible these days, with ice cream being supplied via online delivery and direct consumer channels, as well as e-commerce companies such as Amazon, Swiggy, and Instagram Mart planning an ice cream department.
Another point is that COVID has taught us that it is best to invest in good and larger refrigeration since it was extremely useful during abrupt lockdowns. It has spawned a habit of ice cream stocking rather than a one-time ice cream purchase in recent years.
Anil Patodi has expressed his views, “There is no doubt that demand will actually rise.” One point to note is that raw materials prices have gone up, and due to this high, unexpected demand, the raw materials supply chain is disturbed. The companies that survived the pandemic and worked in spite of it are the real winners. Seeing it as a total, the year is going absolutely the best.
“This is an excellent chance for milk producers and fruit growers to start a side company. Due to market competition, there has been no change in the selling price of ice cream, which benefits the customer. Milk, milk powder, cocoa, butter, and other raw commodities have all suffered significant price rises. The cost of transportation, electricity, and fuel is increasing. “Given all of these factors, I believe per capita income will grow on a more moderate scale,” he concluded.
Ice cream in relation to the allied industry: What is the ice cream industry without the assistance of the related sector? Working side by side, the associated sectors play a vital part in the production of ice cream. Ice cream machine manufacturers, chillers, freezers, transporters, and ingredient suppliers all play important roles in delivering every ice cream created to its customers.
Following the conclusion of our interviews with manufacturers, we sought responses from the allied sector about this year’s sales and their scope of activity during this season. We did receive some fascinating responses, which we have reproduced for our distinguished readers.
Do you think ice cream manufacturers are operating at full capacity this year? Seeing this summer’s sales of ice cream, do you expect further growth next year?From Bhiwandi, Thane, Raju Jituri, MD, Shruti Ice Make, opines, “As far as I know, ice cream producers are clearly operating at 100 percent, and the companies to whom we have delivered machinery are working good three shifts a day for eight hours nonstop.”
Sales will undoubtedly increase next year, assuming the market remains quality-conscious. It should not have happened with softy ice cream. There was a surge 10–15 years ago, and now they have all disappeared. This occurred when people began selling low-quality softies, causing the market to lose a significant amount of money. My real advice is to enhance the quality, packaging, and production procedures so that you can remain competitive in the market. This guarantees a consistent sale to our consumers, who should continue to enjoy our ice cream with faith and trust.
I meant that industrial ice cream manufacturers should enhance their quality, avoid the bite-size, and start generating money. The argument is that they make a lot of ice cream, but the prices must rise, and in order to achieve a high price, they must have good quality. They should choose raw materials in such a way that they acquire a very nice product, including the machinery that they want to make starting this year. If this happens, we can expect the same rate of increase the following year.
Kishan D. Patel, MD, Ether Corporation, offered his extensive reply. COVID has affected business in various ways. The ice cream industry did face its own challenges. As ice cream is often enjoyed in a social setting, COVID-led social distancing implementation disrupted the ice cream industry in the years 2020 and 2021.
With the reinstatement of default social standards in 2022, the ice cream sector has witnessed a significant increase in sales. The bulk of the ice cream industry has been operating at roughly 90% capacity, but not 100 percent. This assertion is supported by ice cream producers’ need for raw materials, which were not fully supplied due to an imbalance in raw material supply created by strong demand.
According to our view, the ice cream industry’s recent sales increase is directly tied to two occurrences. The first is that COVID caused numerous sectors to lose business, and just a handful of those industries are still in operation in 2022. The loss of this easy source of ice cream shifted demand to ice cream makers that were able to stay in business during the epidemic.
The second cause is the spike in temperature that comes with the long summer. Because sales are affected by the duration of the summer and the weather, this year has been especially difficult given the rise in the average worldwide temperature. Given these statistics, we estimate that the ice cream sector will undoubtedly witness an increase in sales throughout the summer in the next few years, given the suggested weather pattern.
A slight negative deviation can be predicted in terms of the average rise of sales from this year, as new industries will jump to take this opportunity along with some of the disrupted businesses that plan to return.
Following Ether’s reply, Amol Maind, GOMA Engineering Pvt Ltd,Mumbai, said, “During COVID-19, the ice-cream sector suffered owing to supply-chain constraints as well as consumer reluctance to cold items.”
As the situation gradually stabilised, numerous firms have reported an increase in ice-cream consumption this year. According to our conversations with several major ice cream manufacturers, they are operating at 90–100% capacity this year.
Pondering over the question, Harshal Sarda, of Synergy Agro-Tech Pvt. Ltd, said, “Yes, based on current ice cream consumption, the ice cream factories are operating at full capacity.” Ice cream sales are up significantly this summer compared to the previous two. If no disasters occur, we anticipate a strong increase in ice cream sales in the coming year.
Umang Patel, JSK Machinery, answered, “I believe that this year there will be a boom in the ice cream industry.” Every ice cream manufacturer that we know is right now working at full capacity.
Starting over a decade ago and against considerable odds, Micron Industries Pvt Ltd, formerly known as Micron Engineering Group, has gained an immense reputation for its quality products specifically manufactured for the dairy industry, “said Mahesh Padhaye, Director, Micron Industries Pvt Ltd, Turbhe, New Bombay. Manufacturers of Yogurt/Dahi Cup Filing Machines, Micro-blenders, Ice-cream Cup Cone Filling Machines, Homogenizers, High Pressure Pumps, Flow Wrapping Machines, Butter Wrapping Machines, and Automatic Stick Line Machines are optimistic about the industry’s expansion.
Nitin B. Shah, Ice Cream & Dairy Consultant, agrees and adds, “Yes, we are functioning at full capacity this season.” Some ice cream is in short supply in the market. So, looking at the current situation, we are all increasing our production capacity for the coming year. There are several new manufacturers entering the ice cream industry. As a result, ice cream consumption and demand are on the rise.
We have observed that the production at our clients’ plants is running at full capacity, and the industry has finally seen a 1.5-fold increase this year following COVID. Everyone is really optimistic about sales continuing to expand, says Punit Chandan, Director of Trimurti Polymers.
Kena Enterprises’ Managing Partner, Rajiv Goyal, opines that this season, the ice-cream sector is experiencing a significant rise in demand. It appears that the ice cream’s pent-up needs are the cause of this high demand. If we look at the growth over the previous three years, we should expect a CAGR of 10%, which is reasonable.
Do you anticipate that production capabilities will improve for the next season, as well as demand for machinery, packaging, and raw materials?Raju gave his honest reply, “Because individuals refrained from consuming ice cream for two consecutive years, they binged on their favourite summer cold treat this season.” Growth next year may not look like this season. This rate of sales may not be there next year, but a steady rise will be present. People are spending the money they saved during the lockdown.
Greater demand for the raw materials and packaging will obviously be there. Good raw materials will certainly have good demand, as will good packaging made according to the standards laid down by the government of India. 50-micron packaging should be the minimum packaging standard. The demand for cones is also increasing as demand for automatic machines for filling cones is on the rise because some good companies are giving very good quality and really good packaging. Besides this innovation in machinery, the production of the product is equally important. Innovation in packaging is a joint subject with product presentation.
Kishan said that, in continuation of the proposed prediction, the rise in sales will definitely see an increase, which in turn will increase demand for production machinery, packaging, and raw materials. The rise in ice cream sales will definitely drive an increase in demand for ice cream-related products. The current boom in ice cream sales has set an example of a profitable industry for many industrialists. Demand for machinery, packaging, and raw materials will also increase when they jump in to undertake this opportunity.
Amol admitted that this year, demand has exceeded supply and manufacturers are not able to cater to it due to a lack of proper estimation of market demand. We can say that this is the best season for ice cream. If this trend continues, there will be further growth next year also.
“We agree that if no calamities arise, then the production capabilities of all the ice cream manufacturers will increase, and as a result, demand for machinery, packaging, and raw materials will also increase, assumed Harshal.
It is a known fact that with increased demand, production increases are just as likely, said Umang. “There are plans to increase the production capacity next year.”
The company’s products, which are specifically created for the dairy sector, account for a large portion of its revenues. Production capacity will undoubtedly rise as demand for machinery, consumables, raw materials, and other market items increases in the next season. We’re crossing our fingers for the best, voiced Mahesh.
Nitin Shah said, “Some manufacturers have already begun to plan their production capacity for next year.”
Punit justified his answer by saying, “All our customers are investing in larger capacities and machinery, and we believe demand for packaging and raw materials will also increase.”
Informing our ice cream industry’s associates, Rajiv said that his company, Kena Enterprises, is setting up an ice-cream extrusion plant in NCR to manufacture special shaped bars, sandwiches, sorbet bars, specialty ice-creams, etc. for everyone who wishes to market these products, giving out the message that the ice cream industry on the whole is reaching out to stars.
What is your opinion on the current level of per capita consumption of ice cream?“Per capita consumption (PCC) of ice cream on an average is increasing steadfastly.” If it increases marginally in India also, that too offers a better percentile of PCC with the kind of population that we have. We cannot compare our PCC of ice cream with that of the US. That’s because there they have cakes and ice cream and in India we have ice cream and mithais, where mithai ranks far ahead in sweets intake than ice cream. It is no secret that ice cream shares a space in the consumer market with its major competitor, mithai, being a much bigger industry than ice cream, quoted Raju.
“Current average per capita consumption of ice cream is approximately 400 ml per capita, which has nearly quadrupled in only 10 years,” Kishan says. Ice might become more inexpensive with additional advancements in technology and production processes. Also, hot and humid weather might promote ice cream consumption, resulting in a rise in per capita ice cream consumption in the following years.
The Indian ice cream sector, according to Amol, is one of the fastest expanding divisions of the dairy industry. In comparison to the United States and China, India currently has low per capita consumption. Based on current market patterns, we expect that per capita ice-cream consumption will rise in the future. With the country’s growing cold chain infrastructure and changing lifestyles, this industry has a lot of room for expansion.
In addition, several businesses have created new flavours and goods. This will attract more consumers and have a good effect on ice cream sales.
“By considering all of these factors, we believe that the ice cream sector has a bright future.”
Harshal mentioned that in India, ice cream consumption has been increasing every year except the last two years, and the current per capita consumption in India is negligible compared to developed countries. Hence, with different categories of ice cream like low-fat, medium-fat, high-fat, etc. coming into the market, we expect the per capita consumption of ice cream to rise.
Adding on,Umang said, “Due to raw material rate, their margins are decreasing, but they know their sales extremely well, and they are increasing their production capacity in the coming year by selling more ice cream to level their profits.”
Wishing the best, Mahesh professed thatice cream is a favourite product and, having no doubt about it, the consumption is always present in the market, and it will continue to be so in future years.
Nitin Shah claimed that ice cream consumption per capita has increased by 25%. trend has changed for premium, vegan and keto-friendly ice cream. The traditional kulfi market is increasing drastically.
Banking on the latest trend of immunity ice cream, Punit declared, “Per capita consumption is definitely increasing.” Our industry has now provided more options to consumers, especially in the sugar-free range, added-whey proteins, and fruit-based natural ice creams. Ice creams with health benefits are making a wave. “
Giving an escalating reply, Rajiv concluded that very exciting times in the ice-cream market in India are ahead. We wish the ice cream industry “the best”.