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Everyone wants to do something business where maximum profit can be made. In such a situation, if you are going to plan something like this, then this news can increase your spirits. The Indian ice cream market has increased by four times in the last decade and it is expected to reach Rs 45,000 crore in the next three years.
The industry body expressed this possibility on Friday. According to data from the Indian Ice Cream Manufacturing Association (IICMA), despite the ice cream market being of seasonal nature, there has been a huge increase in the market of ice cream due to increase in expensive income of people, changes in consumer choice and expansion of distribution channels.
IICMA said in a statement, “India has seen four times the increase in ice cream in the last ten years. In fact, the region is expected to reach 45,000 crore rupees in the next three years and more than Rs 90,000 crore in the next eight years. The industry body said, “Consumers are attracted rapidly towards premium, health-oriented and innovative tastes, offering brand plant-based, low sugar and high protein ice creams.”
Apart from this, the government is also encouraging investment in food processing sector. This strategic approach establishes India as an attractive destination for domestic and international investors desirous of taking advantage of the growing ice cream market. The organization said, “Increasing expenditure-qualified income, urbanization and developed consumers are promoting demand in especially in first and second category cities.” IICMA has declared March 27 as ice cream day. Union Minister of State for Animal Husbandry and Dairy, SP Singh Baghel officially launched the program.
