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Report Overview
The India ice cream market reached a value of approximately USD 3.46 Billion in 2024. The market is projected to grow at a CAGR of 15.00% between 2025 and 2034, reaching a value of around USD 14.00 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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The country produced 230.58 million tonnes of milk in 2022-23, according to the Ministry of Fisheries, Animal Husbandry, and Dairying.
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In 2023, Hindustan Unilever reported that Quick Commerce accounted for over 10% of their ice cream business.
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Havmor, owned by Lotte Confectionery, plans to invest Rs 450 crore over five years starting in 2023 to expand its capacity.
Leading Manufacturers in the India Ice Cream Market
The ice cream market leader in India specialises in ice cream and frozen food products.
Gujarat Co-operative Milk Marketing Federation Ltd: Established in 1946, headquartered in Anand, Gujarat, it's India's largest milk cooperative, renowned for marketing dairy products under the popular brand "Amul".
Vadilal Industries Ltd: Founded in 1907, with its headquarters in Ahmedabad, Gujarat, it's a prominent player in the Indian market, specialising in the production of ice cream and frozen desserts.
Mother Dairy Fruit & Vegetable Pvt Ltd: Established in 1974, and headquartered in New Delhi, it's a significant contributor to India's dairy sector, offering a wide range of milk, fruit, and vegetable products.
Hindustan Unilever Limited: Founded in 1933, and headquartered in Mumbai, Maharashtra, it's one of India's largest consumer goods companies, manufacturing and distributing a diverse range of household and personal care products.
Other India ice cream market key players in the competitive landscape are Devyani Food Industries Ltd, Graviss Foods Pvt Ltd, Dinshaws Dairy Foods Pvt. Ltd, Havmor Ice Cream Pvt Ltd, Ramani Icecream Company Limited, Dairy Classic Ice Creams Pvt. Ltd. and General Mills Inc. among others.
India Ice Cream Market Report Snapshots
India Ice Cream Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 3.46 Billion in 2024.
The market is projected to grow at a CAGR of 15.00% between 2025 and 2034.
The revenue generated from the Ice cream market is expected to reach USD 14.00 Billion in 2034.
Rising disposable incomes, retail and distribution channels, and premium and innovative flavours and health-conscious offerings are the major trends impacting the ice cream market trend in India.
The market is categorised according to the end use, which includes retail, institutional and HoReCa.
The market key players are Gujarat Co-operative Milk Marketing Federation Ltd, Vadilal Industries Ltd, Mother Dairy Fruit & Vegetable Pvt Ltd, Hindustan Unilever Limited, Devyani Food Industries Ltd, Graviss Foods Pvt Ltd, Dinshaws Dairy Foods Pvt. Ltd, Havmor Ice Cream Pvt Ltd, Ramani Icecream Company Limited, Dairy Classic Ice Creams Pvt. Ltd. and General Mills Inc. among others.
The market is broken down into North India, East and Central India, West India, and South India.
North India is the fastest-growing region in the India ice cream market, driven by the higher concentration of ice cream parlours and retail outlets due to dense populations and higher incomes.
The top five companies in the ice cream market are Gujarat Co-operative Milk Marketing Federation Ltd, Vadilal Industries Ltd, Mother Dairy Fruit & Vegetable Pvt Ltd, Hindustan Unilever Limited, and Devyani Food Industries Ltd.
India experiences intense summers, leading to increased demand for ice cream.
Amul is the No 1 ice cream brand in India.
The purchasing power of urban areas and the preference for premium ice cream varieties is increasing which will increase the demand for ice cream.
Cold chain and logistics are the major challenges in the ice cream market.
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