India produced more than 200 million liters of ice cream in the financial year 2020. This was a significant increase since 2015.
Sweet refreshment
Ice cream is a popular refreshment for Indians during the country’s hot summer months. Western parts of the country in particular, accounted for a high share of ice cream consumption within the dairy market. With a wide price range of ice cream retail products, starting from just a few rupees, allows for consumption across socio-economic groups. While retail was fragmented by unorganized players, Baskin Robbins outnumbered other branded outlets.
Dairy products in the Indian FMCG market
The FMCG market has seen a massive increase in revenue, underlining its importance for the Indian economy. Food, including dairy products constitute the second largest category in the FMCG sector. Unprocessed milk is the most consumed dairy product in India. Ice cream lagged far behind in monthly per capita consumption, but the overall processed food spending is on a rise. Moreover, the expansion of refrigerated transportation and rising incomes in the rural areas, underline the market potential yet to be filled.
Production volume of ice cream across India from financial year 2015 to 2020
(in million liters)
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CARE Ratings. (July 13, 2020). Production volume of ice cream across India from financial year 2015 to 2020 (in million liters) [Graph]. In Statista. Retrieved October 05, 2024, from https://www.statista.com/statistics/761794/india-ice-cream-production-volume/
CARE Ratings. "Production volume of ice cream across India from financial year 2015 to 2020 (in million liters)." Chart. July 13, 2020. Statista. Accessed October 05, 2024. https://www.statista.com/statistics/761794/india-ice-cream-production-volume/
CARE Ratings. (2020). Production volume of ice cream across India from financial year 2015 to 2020 (in million liters). Statista. Statista Inc.. Accessed: October 05, 2024. https://www.statista.com/statistics/761794/india-ice-cream-production-volume/
CARE Ratings. "Production Volume of Ice Cream across India from Financial Year 2015 to 2020 (in Million Liters)." Statista, Statista Inc., 13 Jul 2020, https://www.statista.com/statistics/761794/india-ice-cream-production-volume/
CARE Ratings, Production volume of ice cream across India from financial year 2015 to 2020 (in million liters) Statista, https://www.statista.com/statistics/761794/india-ice-cream-production-volume/ (last visited October 05, 2024)
Production volume of ice cream across India from financial year 2015 to 2020 (in million liters) [Graph], CARE Ratings, July 13, 2020. [Online]. Available: https://www.statista.com/statistics/761794/india-ice-cream-production-volume/