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India’s love for ice cream has come a long way from the days when a scoop was the best that guests could expect at wedding ceremonies.
As ice cream sales slow down in markets such as the US and the UK, where consumers are curbing their sugar consumption, business is booming in Asia’s third-largest economy.
Over the past five years, India’s ice cream sales volume has increased at a compound annual rate of nearly 13%, the fastest in the world. The sales volume is expected to nearly double in India by 2021, when the market will likely be worth over $1.6 billion.
While India’s improved cold-chain infrastructure has made it easier to transport perishable items across the country, the ice cream boom also owes much to the evolving consumer with increasing disposable income.
Nevertheless, at just 0.25 litres, India’s per capita ice cream consumption trails far behind those of world leaders Norway (9.8 litres), Australia (9.4 litres), and Sweden (8.9 litres). In terms of sales volume, China tops the global list at a whopping 4.3 billion litres of ice cream for 2016. —Maria Thomas
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