Friday, June 2, 2023

A double helping for the ice cream industry

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According to The Economic Times, which cites a survey by Wazir Advisors, an increasing number of ice cream firms in India are considering expanding their operations to locations outside of the country’s big cities. Because of this, by 2025 the current worth of the ice cream market is anticipated to rise to $5 billion, up from its current valuation of $3.4 billion.

According to the findings of the survey, the expansion of quick-commerce and frozen food platforms has been a key contributor to the development of the ice cream market in India. In order to better serve their customers, major corporations such as Cream Bell, Amul, and Unilever, amongst others, are using rapid commerce and attempting to understand the requirements of hyperlocal businesses. Additionally, Baskin-Robbins, Vadilal, and Noto have all worked together with these kinds of platforms in order to expand their presence through dark storefronts.

According to further information included in the paper, another aspect that has led to this trend is the growing popularity of homemade ice creams among both customers and investors. Private equity firms have recently provided funding, which companies like Noto and Natural Ice Cream (NIC) have used to grow their manufacturing.

According to the survey, some of the most prominent forthcoming trends in the market for ice cream include flavours that cross over multiple cuisines, immune boosters, and plant-based or vegan ice creams.

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