Ice Cream Market To Grow At 15%: Chona | Ahmedabad News – Times of India

Ahmedabad: Indian ice cream market has huge potential for growth in the coming years and the market will continue to grow at 15%. With improvements in refrigeration facilities, demand in rural areas is also growing, said Ankit Chona, MD of Hocco Ice Cream.
Speaking to media at the launch of the ice creambrand Hocco, Chona said, “Indian ice cream market size is around 20,000 crore and Gujarat has a market of around 2,500 crore.India has per capita ice cream consumption of around 400ml per year while the same is 13 litres in the US, so the country has huge growth potential.”
Chona family sold its Havmor ice cream brand to a Korean company Lotte in 2017, and now it has re-entered the ice cream market with the new brand. Hocco has invested 60 crore to set up a 50,000 litres per day ice cream manufacturing facility near Bavla, and it will invest another 60 crore to double the capacity after summer season.
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