Indians love their Ice-cream!! Consumption is highest during summers when temperatures are in the high 40s. We feel that the Ice-cream industry is set to see rapid growth in the years to come. This has been reaffirmed by the PHD (Progress Harmony Development) Chamber of Commerce and Industry, which has projected that the size of ice cream industry, estimated at Rs. 4,500 crore in 2013 is likely to jump to about Rs. 7,000 crore by 2018. The per-capita consumption of Ice-cream in the country went up by 300 ml in the year 2013 itself. This growth is being attributed to the changing spending habits of youngsters and the increased disposable income of lower and middle class Indian families.
The domestic ice cream industry would grow at the compounded growth rate (CAGR) of about 25 per cent. Although the per-capita consumption of ice-cream in India compared to other countries is still quite low, the country is fast catching up.