India’s love for ice cream has skyrocketed over the past decade, with the market growing four times its size and showing no signs of slowing down. According to the Indian Ice Cream Manufacturing Association (IICMA), the industry is on track to reach ₹45,000 crore by 2027 and could cross ₹90,000 crore by 2032.
While ice cream sales have traditionally been seasonal, the industry has thrived due to rising disposable incomes, changing consumer tastes, and a wider distribution network. The IICMA noted that stable prices for key ingredients like milk solids and packaging materials have also played a crucial role in keeping prices competitive and improving profitability.
The Shift Towards Premium and Health-Focused Flavors
With consumers increasingly looking for healthier and more premium options, brands are experimenting with plant-based, low-sugar, and high-protein ice creams to meet demand. This shift has been particularly strong in tier-1 and tier-2 cities, where urbanization and evolving consumer habits are driving sales.
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Government Incentives Fuel Growth
The Indian government has been actively supporting the food processing industry, offering incentives that make the ice cream sector attractive for both domestic and international investors. These policies, combined with a surge in urban consumption, are expected to keep the momentum going.
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India Declares Its Own ‘Ice Cream Day’
To celebrate the booming industry, March 27 has officially been declared “Ice Cream Day” by the IICMA. The inaugural event was launched by S.P. Singh Baghel, Minister of State for Animal Husbandry and Dairying, marking a new milestone for India’s ever-expanding ice cream market.
