Competitive Landscape
Gujarat Co-Operative Leads a Fragmented and Competitive Environment
Ice cream in India in 2026 remains fragmented, with the leading company, Gujarat Co-operative Milk Marketing Federation Ltd (Amul), expected to hold a 19% retail value share, and the second-largest, Kwality Wall's India Ltd (previously Hindustan Unilever Ltd with Wall's, Cornetto, Magnum), holding 9%. Several other companies follow, including Hatsun Agro Products Ltd, Mother Dairy Fruit and Vegetable Pvt Ltd, Devyani Food Industries Pvt Ltd, Vadilal Industries Ltd, and Havmor Foods Pvt Ltd, each holding between 4% and 6% value shares, underscoring the absence of a single dominant player and reflecting a diverse, highly competitive landscape.
Magnum Ice Cream Company’S Acquisition of a Stake in Kwality Wall's Drives Innovation and Competition
A transformative development in 2026 is the acquisition of a majority stake in Kwality Wall’s India Ltd by Magnum Ice Cream Company. This merger is anticipated to introduce global expertise and advanced logistics, enabling a dual-brand strategy that targets both the mid-market and premium segments.
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Overview:
Understand the latest market trends and future growth opportunities for the Ice Cream industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Ice Cream industry in India, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Ice Cream in India report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Ice Cream in India?
- Which are the leading brands in Ice Cream in India?
- How are products distributed in Ice Cream in India?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Ice Cream?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in India?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Ice Cream in India - Category analysis
Key Data Insights
Ice Cream Summary
Cavinkare Redefines Indulgence with Infusion-Led Premium Offerings
Ice Cream Works Drives Healthy Indulgence with Zero-Sugar Innovation
Impulse Offerings Drive Growth as Retail Channels Diversify
Brands Expected to Elevate Functionality and Seasonal Editions to Drive Year-Round Demand
Impulse Ice Cream Will Continue to Dominate Due to the Hot Climate and Constant Launches
Gujarat Co-Operative Leads a Fragmented and Competitive Environment
Magnum Ice Cream Company’S Acquisition of a Stake in Kwality Wall's Drives Innovation and Competition
Small Local Grocers Sustains Impulse Buying with Last-Mile Reach
Quick Commerce Accelerates Premium Consumption and Reshapes At-Home Demand
Premiumisation and Health-Conscious Formulations Drive Innovation
Infusion-Led Formats and Zero-Sugar Recipes Exemplify Recent Product Developments
Strategic Acquisitions and Heightened Competition Redefine the Business Landscape
Snacks in India - Industry Overview
2026 Developments
Key Data Insights
Increasing Everyday Indulgence through Innovation and Premium Experiences
Ritebite Fuels Functional Snacking and Broadens Daily Routines
Quick Commerce Transforms Accessibility and High-Frequency Snacking
More Brands Expected to Embed Health Benefits into Affordable Snacking Moments
Sweet Biscuits and Value Packs Drive Mass-Market Expansion
Gst Reform and Digital Platforms Broaden Consumer Reach
Parle and Britannia Sustain Their Lead by Leveraging Well-Known Everyday Snacks Brands
Emerging Brands and Mergers and Acquisitions Shape the Competitive Landscape
Small Local Grocers Maintains Strong Reach Even as Modern Formats Advance
Quick Commerce Accelerates Trials and Premium Snacking Moments
Shifting Nutritional Demands and Sensory Upgrades
Novel Formats and Flavour Fusions in the Market
Competitive Dynamics and Strategic Consolidation
Country Reports Disclaimer
The following categories and subcategories are included:
Ice Cream
- Frozen Yoghurt
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- Single Portion Dairy Ice Cream
- Single Portion Water Ice Cream
- Plant-based Ice Cream
- Unpackaged Ice Cream
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- Bulk Dairy Ice Cream
- Ice Cream Desserts
- Multi-Pack Dairy Ice Cream
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- Bulk Water Ice Cream
- Multi-Pack Water Ice Cream
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Ice Cream
Ice cream is the aggregation of frozen yoghurt, impulse ice cream, plant-based ice cream, unpackaged ice cream and take-home ice cream. Frozen desserts is included in Passport’s Staple Foods research. Please note that soft serve ice cream from ice cream dispensing machines sold at foodservice outlets (e.g. fast food or ice cream parlours) is entirely excluded.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Ice Cream research and analysis database.
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