Ice cream is a frozen food made from a mixture of dairy ingredients, containing at least 10% milk fat. Before the addition of bulk ingredients, such as flavorings and sweeteners (Marshall and others 2003a). A gallon of ice cream must weigh a minimum of 4.5 pounds, and contain at least 1.6 pounds of food solids (Martinez Martin and others 2001). In addition, the minimum weight of 540g/L limits the amount of air that can be incorporated, called the overrun, which is the percentage of increase in volume over the volume of mix frozen per unit total volume, to approximately the same volume over the volume of mix.

Key Players in the ice cream Industry

According to estimates in 2021, the value of the ice cream market is Tk 1,400 crore, which is an increase of Tk 730 crore or 93% from the previous year. Among local brands, Igloo stands out with a commanding 43% market share, maintaining its top position unchallenged.

According to the annual report of FY 2020-21 of Golden Harvest Agro Industries, the second position belongs to Polar. The company has a 21% market share, almost as half as Igloo. Meanwhile, Kwality is in the third position with a 13% market share. Bloop is in the fourth position with an 8% market share. Bellissimo and Za-n-Zee are in the fifth position with a 7% market share and Lovello is in the sixth position with a 5% market share. The rest of the 3% market share belongs to other ice cream manufacturers. 

If this ongoing trend goes on, the market value can reach as much as Tk2,600 crore by 2025. Prior to the Covid-19 pandemic, the market size of ice cream was Tk1,240 crore in the year 2019.

Apart from the awareness campaigns by ice cream manufacturers, the growing spending capacity of people, urbanization, and access to the power grid in rural areas are also playing major roles in the increased consumption of ice cream. 

In Bangladesh’s ice cream industry, the companies offer around 40 variants of this frozen sweetened delicacy including sticks, cups, cones, sorbets, tubs, cakes, and more. Among all the flavors and variants, vanilla ice cream is the one that is consumed most in Bangladesh.

Overview of export ice cream from Bangladesh

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