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Unilever Ice Cream unit eyes India growth as turnaround gathers pace
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Tuesday, 17 February, 2026, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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Unilever’s newly demerged ice cream business is signalling a renewed strategic push in India, as it moves into “turnaround mode” to revitalise performance in one of the world’s fastest-growing dairy markets. The development comes as the company prepares for its standalone Indian entity to begin trading publicly.
According to the latest company disclosures, India — which has a relatively low per capita ice cream consumption compared with developed markets — is viewed as a major long-term opportunity. India could overtake the United States to become the world’s largest ice cream market within the next two decades, driven by rising incomes, expanding retail penetration, and consumer demand for premium frozen desserts, according to executives.
The ice cream business, now separate from Hindustan Unilever’s core fast-moving consumer goods operations, has experienced stagnating or declining market share in recent years. The company has acknowledged the need to reverse this trend, describing its current phase as a turnaround mode focused on sharpening local strategy, revitalising brands, and improving profitability.
This shift follows a significant corporate restructuring: HUL’s ice cream arm — including marquee brands such as Magnum, Cornetto and Kwality Wall’s — was demerged into a separate entity, giving it greater operational flexibility and focus on the ice cream category. The listing and trading approval from India’s major stock exchanges clears the way for this new entity to debut on February 16, marking a milestone in its independence and growth trajectory.
Industry analysts expect the standalone structure to support faster decision-making tailored to India’s unique market dynamics, including distribution, pricing and regional consumer preferences. Success in this rapidly expanding market could position Unilever’s ice cream business as a stronger competitor against entrenched local players and a key contributor to the company’s broader emerging-market growth story.
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