At present the ice cream market in the country is worth more than Rs 30 thousand crores.Image Credit source: Google Gemini
The temperature in the country is crossing 45 degrees. In such a situation, people’s inclination towards cold things increases. Like ice cream. In recent times, there is a lot of discussion about Vantara Creamery ice cream launched by Mukesh Ambani’s younger son Anant Ambani. This ice cream has been launched in 17 flavours. Do you know how big the ice cream business is in the country? Yes, you will be surprised to know that the ice cream business in the country is more than Rs 30 thousand crores. The special thing is that in the next 10 years its size may increase more than 3 times. This means that it can cross the level of Rs 1 lakh crore. Let us also tell you how the ice cream business is booming in the country.
How big is the ice cream business in the country?
According to the report of Eyemark, the ice cream business is seen to be very big in the country. The value of ice cream market in India was seen to be Rs 31,276 crore in 2025. Whereas in the year 2020 i.e. five years ago, the ice cream market was Rs 14800 crore. This means that the ice cream market in the country has doubled in 5 years. It is expected to double further in the coming five years. According to Imark’s estimate, the ice cream market in the country could be worth Rs 65,780 crore by the year 2030. It is not just that the Ambani family has jumped into this business.
Business will be worth more than Rs 1 lakh crore
The special thing is that by the year 2034, this business is going to gain further momentum and the figure is expected to cross Rs 1 lakh crore. According to Imark data, the ice cream business in the country is estimated to reach Rs 1.19 lakh crore by 2034. According to the report, the ice cream business will grow at a CAGR of 16.03 percent between 2026-2034. This strong growth is being fueled by rising disposable income, rapid urbanization, expansion of quick-commerce, growing trend in Tier-2 and Tier-3 and development of strong cold chain infrastructure.
Source: imarcgroup
How and why is business growing?
According to the iMark report, the ice cream market in India has shown extraordinary growth from Rs 14,870 crore in 2020 to Rs 31,276 crore in 2025, which indicates a historical CAGR of about 16 percent. This market is set to maintain its momentum, and it is estimated that by 2034 it will reach Rs 1.19 lakh crore. This expansion is indicative of some structural changes, including the rapid expansion of quick-commerce platforms driven by government schemes, and the transformation of ice cream from a seasonal treat to an everyday indulgence.
Which ice cream has the highest share?
Impulse Ice Cream is maintaining its top position in the market with a share of 59.62 percent in 2025. The main reason for its success is its availability at point-of-sale everywhere and the predominantly hot climate of India. Impulse Ice Cream’s 59.62 percent dominance in 2025 shows the strong habits of eating ice cream on the go. This has also been boosted by the widespread presence of freezers in grocery stores and growing quick-commerce partnerships.
The share of chocolate flavor in the total flavor revenue is 31.05 percent, followed by vanilla with 28.42 percent and fruit flavors with 24.63 percent. Chocolate’s flavor share of 31.05 per cent reflects its universal appeal, its versatility and its strong presence across ice cream categories, both regular and premium.
Among all the states, Maharashtra leads with 12.00 percent share. It is benefiting from its large urban consumer base and well-established cold chain network. According to the report, Maharashtra’s 12 percent share is a symbol of the huge demand for ice cream in urban areas. The main reason for this demand is the large and modern-minded consumer class of Mumbai and Pune, which likes both branded and artisan-made ice creams.
Source: imarcgroup
Government help through PLI scheme
The ice cream market in India includes production, distribution and retail sale of frozen dairy and non-dairy desserts. The industry operates within a complex ecosystem, which includes dairy cooperatives, multinational FMCG companies, regional makers and emerging specialty brands. The government has laid emphasis on modernization of food processing under the PLI scheme for food processing industries, for which Rs 10,900 crore has been allocated. India’s dairy sector is the foundation of the ice cream industry. The country produced about 236.35 million metric tonnes of milk in 2023-24, maintaining its status as the world’s largest milk producer. This huge stock of raw materials provides competitive advantage in input prices.
Mathematics will change with Ambani’s entry
As we told you earlier that Mukesh Ambani has also jumped into this business. His son has launched Vantara Creamery Ice Cream. As we have seen earlier, whenever Mukesh Ambani enters any business, he creates a monopoly or a strong hold on that entire business. As we are seeing in the soft drink market. With the help of Campa, the Ambani family has given sleepless nights to international brands like Coke and Pepsi. After entering the ice cream business, multinational companies like Kwality Walls, Creambell, Baskin Robbins may lose sleep and their business may also be affected.
