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On average, an Indian consumes about 600 ml of ice cream annually. In metro cities, that figure is three to four times higher, but still far below developed markets such as the US, where per capita consumption stands at 13 litres. “This shows the massive headroom for growth,” HUL's CFO Ritesh Tiwari said.

Magnum Ice Cream Company will acquire a 61.9% stake in Kwality Wall’s India Ltd following the demerger of HUL’s ice cream division. The spin-off aligns with Unilever’s global Growth Action Plan, recognising the segment’s need for a separate cold chain and distribution m