This business will become 45 thousand crores in next 3 years!
Everyone wants to do some 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 morale. The indian ice cream market has grown fourfold 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 the data of the indian ice cream Manufacturers Association (IICMA), despite the ice cream market being seasonal in nature, the ice cream market has seen huge growth due to increase in disposable income of people, change in consumer preferences and expansion of distribution channels.
IICMA said in a statement, "In india, the consumption of ice cream has seen a fourfold increase in the last ten years. In fact, the sector is estimated to reach Rs 45,000 crore in the next three years and over Rs 90,000 crore in the next eight years.'' Moreover, stability in prices of solid milk products and packaging material has enabled ice cream makers to keep competitive pricing and increase profitability. The industry body said, "Consumers are increasingly attracted to premium, health-oriented and innovative flavors, leading brands to offer plant-based, low sugar and high protein ice creams."
In addition, the government is also offering incentives on investment in the food processing sector. These strategic approaches position india as an attractive destination for domestic and international investors looking to take advantage of the growing ice cream market. The organization said, "Rising disposable income, urbanization and evolving consumer preferences are driving demand, especially in tier I and II 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 event.
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