What is the ice cream market size in India?

The ice cream market in India was valued at INR 228.6 Billion in 2023.

What is the expected growth rate of the ice cream market in India?

The ice cream market in India is expect to exhibit a CAGR of 17.4% during 2024-2032.

Who are the key players in the ice cream market in India?

Some of the major players in the ice cream market in India include GCMMF, Kwality Walls, Vadilal, Mother Dairy, Hatsun, and Cream Bell.

Top 10 Ice Cream Brands In India | Processed Food Industry-B2B Magazine

India’s ice cream market is booming, fueled by better cold chain infrastructure, rising incomes, and changing lifestyles. Despite low per capita consumption, the industry is one of the fastest-growing segments, with projections to reach INR 956.0 billion by 2032. Here is a list of top 10 ice cream brands in India.

Though our country has a whole variety and range of sweets and desserts, ice creams remain the most desired – if not most popular. The overall strengthening of cold chain infrastructure has made ice-creams reach out to a larger set of consumers. This has turned the ice cream industry in India into one of the fastest-growing segments of the dairy or food processing industry. This, despite the fact that our country has a low per capita ice cream consumption of – 400 ml – as compared with per capita ice cream consumption of 22,000 ml in the United States and 3,000 ml in China. The However, Ice cream industry in India is looking up, thanks to the improving cold chain infrastructure in the country aided by the ever-increasing disposable income and changing lifestyles.

The ice cream sector in India is moderately consolidated and competitive, with the top six companies accounting for 68% value share in 2022. GCMMF, Unilever, Wells Enterprises Inc., Devyani Foods Industries Pvt. Ltd, Hatsun Agro and Havmor Ice Cream Limited are the largest players in the market. The remaining 32% of the market is extremely fragmented in small and local companies.

The ice cream market in India size reached INR 228.6 Billion in 2023. As per the market survey by IMARC Group, the Indian ice cream market is expected to reach INR 956.0 Billion by 2032, exhibiting a growth rate (CAGR) of 17.4% during 2024-2032. The market is fueled the expansion of domestic brands beyond the metros and the rising interest of international brands, according to a report by Wazir Advisors. The other factors such as rising average mean temperatures, long summers and heat waves, and western & modern lifestyles, are also propelling the market.

Most of the popular ice cream brands are regional with a multitude of brands concentrating on only one or two districts or in some cases only one state. Ice-cream, as a category, has been growing at a healthy CAGR of ~15-17%.

Here is a list of top 10 ice cream brands in India

Top 10 ice cream brands in India

Amul Ice Cream

When it comes to ice cream brands in India, Amul stands as a pioneer and a household name. Amul brand, owned by Gujarat Co-operative Milk Marketing Federation (GCMMF), was established in 1946 in Anand, Gujarat. In addition to ice creams, Amul manufactures 200 other products such as Milk, Yogurt, cheese, buttermilk, shrikhand, chocolate, flavored milk, and milk powder too. The ice creams from Amul were firstly available in the Gujarat market in the year 1996. And since then they have never looked back. Therefore, today Amul is one of the top ice cream brands in India. Amul is very few manufacturers how provide authentic taste of camel milk to the consumer in form of ice cream. Amul’s Camel Milk ice cream is made from 100% camel milk and it is good for health conscious consumer as it contains less fat (only 4.4%).

GCMMF, which markets ‘Amul’ brand of milk and dairy products, registered a turnover of Rs 39,248 crore in 2020-21. The Cooperative had posted a turnover of Rs 38,542 crore in the previous financial year.

Kwality Walls (Kwality Ice Cream)

Kwality Wall’s — an icecbream brand with the heart logo — now a part of Unilever, has a long-standing presence in India. Kwality Wall’s, or simply Kwailty Ice Cream as it is known in India, owns a few big ice cream brands in India. Cornetto and Magnum are one of the top ice cream brands in India owned by Hindustan Unilever. These products are available in a variety of flavours like Orange Mahabar · Lemon Blast · Cola Blast · Cloud Bite · Aamras · Mango Zap · Chocobar. . Indian people love ice creams from Cornetto and Magnum brand. And all of these things led Hindustan Unilever to become one of the top ice cream brands in India too.

Kwality Wall’s, now a part of Unilever, has a long-standing presence in India.

Vadilal Ice Creams

The third on the list of top ice cream brands in India is Vadilal. It is another very well-known name among the ice cream lovers in India. Vadilal Group is among the very few companies which mostly focuses on its Ice creams and candies. They have been successful in touching the feeling of Indian ice cream consumers. And that’s why today, they are among some of the top ice cream brands in India. The very first outlet of this brand was started at Ahmedabad, Gujarat. Today, they have more than 200+ flavors to offer to their consumers. Apart from kulfis, the brand is building categories such as gourmet, badabite, flingo and ice-cream cakes for younger audiences who like to experiment with different flavours.

Mother Dairy Ice Cream

Mother Dairy is a very strong name in the Indian ice cream industry. This company is very similar to Amul, in terms of the products, they manufacture and sell. Besides this, mother dairy is very popular for its milk, buttermilk, and many more dairy products. Mother Dairy brand is owned by National Dairy Development Board (NDDB), an organization in India. The ice creams from mother dairy are loved by thousands of Indian ice cream lovers. And therefore, Mother Dairy has made it on our list of top ice cream brands.

Arun Ice Cream

Arun Ice Cream is probably the most well-known brand of Hatsun Agro Products. When other ice cream brands opened parlours exclusively in the cities, Arun decided to take to suburban and even rural areas, leading the ice cream into the hearts of millions. The brand also consistently introduces new flavours, like Strawberry · Vanilla · Mango · Pista · Butterscotch · Kaju Kismis · Rose Magic · Milk Fantasy, every season, just to make sure customers have something fresh to look forward to every time they walk into an Arun Icecreams parlour.

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Creambell Ice Cream

Next on the list of top ice cream brands in India is Creambell. Creambell is an Indian ice cream company headquartered in New Delhi, established by the RJ Corp in 2003. Creambell has been able to win the hearts of its Indian ice cream consumers. Currently it has 136 varieties in its basket catering to various consumer age groups and their taste buds. The company is planning to expand its horizon in India and is present in 19 states. They are also named as one of the fastest-growing ice cream brands in India. Creambell brand is also diversified in to the dairy market with milk and value-added dairy products.

Havmor Ice Cream

Another big player in the ice cream industry is Havmor. Havmor Company has been able to stand strong as one of the big fighters in the battle of top ice cream brands in India for very long. This company is also most popular for selling ice creams and cones. Satish Chona is the founder of Havmor and it was launched in Karachi in the year 1944. If you are a person who loves to try different flavors, then Havmor will not disappoint you. Havmor has a diverse product basket comprising of more than 160 varieties of Ice Cream flavors, ready to eat products, novelties and authentic kulfis.

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Baskin Robbins

Slightly on a more premium side is the Baskin Robbins brand of ice creams. Baskin-Robbins is an American multinational chain of ice cream and cake specialty shop restaurants owned by Inspire Brands. Launched in India in the year 1993, this company spotted the opportunity and the love for the ice cream in Indians. And therefore, they opened their first manufacturing unit outside North America was in Pune, India.

There is no doubt, that Baskin Robbins is one of the top ice cream brands in the World. But as it is slightly on the more premium side, this brand is not very well-known in some rural parts of the country.

Dinshaw’s

Dinshaw’s, established in the year 1932, was a dream come true of two enterprising brothers, Dinshaw and Erachshaw Rana. Their constant emphasis on quality consciousness and innovating with new flavours gave people ice creams that truly were delightful. This success led Dinshaw’s to expand into several dairy products.

Dinshaw’s have got a variety of ice cream flavors on their menu cards, and is regarded as one of the premium brands of Ice cream. Its presence in Maharashtra, Madhya Pradesh, Chhattisgarh, Orissa, Andhra Pradesh, Karnataka, Goa, Uttar Pradesh, Jharkhand, Delhi, Harayana has been adding wholesome goodness to the lives of thousands since decades.

Top’N Town

Last but not least, Top’N Town, a very popular ice cream brand in India. This company is successfully operating in India for the last 40 years. And it has been able to register its name in the list of top ice cream brands in India.

At present, Top‘N Town has a strapping distribution network that spans close to 28000 retail outlets and 300 distributors across India.

Though the per capita ice-cream consumption in India is lower in comparison to other major markets, it is however an evolving one, growing at a CAGR of ~10-15 percent. This growth is good for the industry to keep moving on at a faster clip especially in the branded and new/innovative categories. With the growing consumer base, increasing disposable income, and a greater trend toward eating-out, the market stands poised to incorporate bigger players and more innovative concepts.

Conclusion

The ice cream market in India has evolved dramatically over the years, offering consumers a delightful array of choices. From international icecream brands like Baskin-Robbins to homegrown heroes like Amul and Havmor, each brand brings its unique twist to this beloved dessert. As the Indian palate continues to evolve, we can expect even more icecream brands with innovative flavors and combinations to tantalize our taste buds. Whether you prefer the classic flavours or adventurous blends, there’s an ice cream brand in India waiting to satisfy your cravings and make every day a little sweeter.

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