Ice-cream is one of the fastest growing food categories in India. Notably, the business is seasonal in nature with April to June being the peak season and November to January the lean months. Sales slacken during the monsoons also.India is the most rapid growing ice cream market globally, with ice cream treats fast becoming a part of Indian culture. Indian consumers are turning into regular patrons of ice cream parlours, helping to fuel greater interest in packaged offerings in the country.Ice cream parlours are a booming business in India, and this popularity is making its way to retail.
In value terms, the organised segment of India's Rs 3,000-crore ice cream market has been growing at 19.5 per cent a year for the last five years. Many established food and lifestyle trends, such as limited edition, indulgent, natural and premium ingredients have led to the establishing of ice cream ranges under claims of 'premium'.
The ice-cream market has been through an evolution wherein the category has grown in shape and form right from consumer perception to the products and services being offered. Ice-cream, which was considered an indulgent category in the past, has now evolved to a stage where it is largely and happily perceived as a snacking option by consumers. This change in perception has come about thanks to increasing disposable incomes and greater discretionary spending. Also, the growing reach of the media has allowed operators in this category to expand their range and recall value. The change in the perception of consumers has allowed the category to grow in volume. Ice-cream, as a category, has been growing at a healthy CAGR of ~10-15%.
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