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Milking a cash cow in India: The push for premium ice cream in a developing economy

  • December 2014
  • -
  • MarketLine
  • -
  • 21 pages

Summary

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Introduction

As a non-essential luxury item, ice cream is not a product that might be expected to have a large market in a developing economy. However, as the Indian economy continues to grow, this is likely to change. Global average spend per capita in 2014 is expected to be $27 per person per annum, compared to $0.02 in India. There is therefore huge room for growth in the Indian ice cream market.

Features and benefits

* Provides a review of the ice cream industry and draws out the strengths of the major US brands - Ben & Jerry's and Haagen Dazs.
* Looks at the current state of the Indian economy and how it is developing to expand its middle class and thereby increase disposable incomes.
* Analyzes the development of the Amul dairy cooperative and the ice cream industry in India.
* Provides an estimate how far the ice cream market in India can expand in the long term and looks at how limited the barriers are to market expansion.

Highlights

Major US brands, including Ben & Jerry’s, Haagen Dazs and Dreyer’s Edy’s, all began as local artisanal ice creams and became popular enough to be acquired by large multinational food producers (Unilever, General Mills and Nestle respectively).
India is a country of great inequality. Despite being home to 100 billionaires (making India 6th position in the world) and 14,800 multi-millionaires (8th position in the world), the country's performance on human development indicators is at the opposite end of the scale.
The Gujarat based dairy cooperative that markets the very successful Amul ice cream brand has had rapidly increasing levels of turnover in recent years, moving from less than $500m in 1995 to nearly $3.5bn in 2014.

Your key questions answered

* How has the ice cream market evolved and what are the key factors involved in a successful ice cream business?
* Is there room for growth in the Indian ice cream market, particularly in relation to premium ice cream? If so, which companies stand to benefit?
* How much of a role does marketing play in developing brand prestige in the ice cream industry?

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