Presenting Euromonitor’s latest findings on the Indian market at the 4th Indian Ice-Cream Congress & Expo 2014, organised by the Indian Ice Cream Manufacturers Association (IICMA), I was struck by the ambition of the industry to develop itself.
This was evident from the key note speech by Member of Parliament, Sri Kirit Somaiya who spoke of a vision to export Indian-made ice cream to the rest of the world in the years to come. This ambition alone embodies the optimism of the industry. While it may be a worthy aim to aspire to, in the medium-term the best opportunities lie in creating greater demand at home.
With per capita volume consumption of just 250 ml, India is firmly planted at the low end of the ice cream spectrum. Forget trying to reach the giddy heights of say Australia or the US, both of which lead global volume consumption with over 12 litres per person. If the likes of Gujarat Co-Operative Milk Marketing Federation, Hindustan Unilever, Vadilal Industries and Mother Dairy can address issues of cold storage, rural penetration and infrastructure, even reaching the per capita levels of Brazil or China would represent ten-fold growth in consumption. Now that really is something to aspire to.
View the presentation "Indian Ice Cream Industry: Overview, Outlook and Opportunities" on SlideShare