SCOOPING UP SUCCESS

Investments are hot, but innovation and competition are the next scoops to conquer for ice cream companies

Summer boasts two undeniable delights, the burst of flavour from a perfectly ripe mango and the refreshing coolness of ice cream. But in recent years, the way we enjoy ice cream has undergone a delicious transformation.

Ice cream companies have adopted innovative strategies, making this once-seasonal treat a delightful option throughout the year. With a kaleidoscope of flavours available, indulging in a scoop or two is no longer limited to the hottest months. This shift has proven to be a boon for ice cream sellers, extending their reach and boosting the appeal of their year-round offerings.

Let us see how ice cream conquered the calendar and became an all-season favourite.

THE INDUSTRY

India's ice cream industry is a chilled champion, valued at US $3 billion in 2023. It is estimated to grow at an impressive Compound Annual Growth Rate (CAGR) of 13.4% between 2024 and 2030, making it the fastest-growing dairy favourite in the Asia-Pacific region.

Major Players And Market Landscape

The market boasts of a mix of major players like Amul, Mother Dairy, Kwality Walls, Hatsun's Arun and Ibaco, Vadilal, Havmor, Creambell, Baskin Robbins, Dinshaw, and Uncle John, alongside regional brands and State Cooperative Dairy Federations with their own ice cream brands. According to the Food Safety and Standards Authority of India, these frozen delights are categorized as 'dairy-based desserts and confections.' 

The Ice Cream Landscape

India's ice cream offerings can be broadly categorized into three types: .

Impulse Ice Cream: These water-based, all-dairy-based treats are ready for instant consumption. Think chocolate-coated ice creams, ice cream tubes, and sandwiches, among other offerings.

Take-Home Ice Cream: This category encompasses all dairy and water-based ice creams meant for larger consumption at home.