A company spokeswoman said the total ice cream market was estimated at 25 million litres a year.
"We are confident that our sales volumes would top the 12 million litre mark this year," said Sandeetha Jayasinghe, General Manager of Cargills Marketing and Development, Manufacturing Brands.
Cargills Magic entered the industry seven years ago at a time when the entire category had sales of just 12 million litres a year.
The company has a network of more than 5,000 dairy farmers who supply fresh milk to make ice cream products.
Nimal Pathirana, General Manager, Cargills Magic said the firm also provides farmers technical inputs that enhance the quality of the milk and also the productivity of their enterprise.
The company’s relationship with dairy farmer societies has also assisted them in accessing low-interest credit without sureties.
Cargills Magic also offers the farmer subsidized feed, veterinary drugs, mineral mixtures as well as milk containers.
Cargills has 44 variants of ice cream and introduces new flavours for every festive and holiday season, the company statement said.
The products are distributed to over 30,000 general trade outlets, through auto-rickshaws, tricycles, mobile ice cream trucks and 138 Food City supermarket outlets.