NEW YORK, November 1, 2016 /PRNewswire/ --
Expanding middle class population base, rising purchasing power, coupled with changing customer tastes and growing demand for premium ice creams to drive India ice cream market through 2021
According to a report released at TechSci Research, "India Ice Cream Market By Type, By Organized Vs Unorganized Sector, By Category, Competition Forecast & Opportunities, 2011-2021", the ice cream market in India is forecast to exhibit a CAGR of 17.03% during 2016-2021. Ice cream market in India grew at a moderate pace over the past few years, on account of increasing number of international ice cream brands entering the Indian market, improving cold storage facilities, coupled with changing consumer taste. Moreover, India is the largest producer of milk, as the country accounts for over 1/5th of global milk production, thereby offering ice cream market in the country with large volume of raw material for manufacturing of ice creams. GDP per capita of India is increased from USD1390 in 2010 to 1580 in 2015, which is positively impacting the ice cream market in India. Furthermore, growing inclination towards eating ice cream outside, growing number of flavors, coupled with rising purchasing power are further expected to drive India ice cream market during the forecast period.
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Browse 3 market data Tables and 37 Figures spread through 117 Pages and an in-depth TOC on
"India Ice Cream Market"
West India dominated India ice cream market in 2015, and is further anticipated to continue dominate the market in the coming years, owing to presence of leading players in the ice cream market in India such as Gujarat Cooperative Milk Marketing Federation, National Dairy Development Board, Vadilal, etc., growing dairy industry, coupled with high population density in the region. India ice cream market was dominated by impulse category of ice creams in 2015, and this category is further expected to continue its dominance during the forecast period as well, owing to growing demand for premium ice creams and changing consumer taste.
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"Ice cream earlier were considered as a luxury food product, however with changing time taste and preference of consumers changed, which propeled growth in India ice cream market over the past few years. Moreover, growing demand for natural and traditional flavored ice cream, coupled with increasing penetration of international brands, improvement in cold chain infrastructure and rapid urbanization to drive India ice cream market during the forecast period.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Ice Cream Market By Type, By Organized Vs Unorganized Sector, By Category, Competition Forecast & Opportunities, 2011-2021" has evaluated the future growth potential of India ice cream market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the ice cream market in India.
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