Reliance Company will shortly enter the ice cream business
Reliance Consumer Products, with its new brand “Independence” which was introduced in Gujarat last year, may soon enter the quickly expanding ice cream industry. According to sources informed of the events, the business is in discussions to outsource manufacturing with an ice cream producer headquartered in Gujarat. According to experts in the field, Reliance’s involvement will make the organized ice cream industry more competitive.
In order to debut its ice cream this summer through its designated grocery retail stores, the firm, which intends to deliver locally made items in the FMCG market, is reportedly in the final stages of discussions with the ice cream producer in Gujarat. Products under the Independence brand include packaged meals, cereals, pulses, and edible oils.
According to a specialist, the arrival of Reliance would likely result in substantial changes to the ice cream sector and increased competition. Observing the variety of items and the markets it aims for will be intriguing. Over 20,000 crore rupees worth of ice cream is sold in India, and organized players make up roughly half of that industry. As disposable income rises and electrification gets better over the next five years, the Indian ice cream industry is anticipated to grow by double digits. Since rural demand is also rising quickly, we predict that additional large corporations will eventually enter the ice cream industry.
To meet the rising demand for ice cream, producers including Havmor Ice Creams, Vadilal Industries Ltd., and Amul are increasing their production capabilities