“India chocolate market” is segmented by product (Milk Chocolate, Dark Chocolate and White chocolate), Distribution Channel (Supermarket, Specialist store, Online retail store and other) is projected to grow at a US$ 4.21 Bn by 2026 at a CAGR of over 15% during the forecast period.
Rising income of consumers with growing health concerns, will witness a boom in chocolate market. Increasing presence of international brands, customization of chocolates for exclusivity and luxury, new brand launches and extension of product portfolios, availability of sugar free chocolates are key developments that has foster the India’s chocolate market. Changing food consumption patterns in India, increasing per capita income, affluent middle-class purchasing power coupled with marketing and promotional activities has boosted the chocolate market. Per capita consumption of chocolates has almost doubled in past many years due to increasing awareness among the consumers regarding health issues such as blood pressure and cholesterol.
Dark chocolate to grow at fastest rate in the India chocolate market.
Dark chocolates makes it good for curing heart diseases and with increasing health concerns among the people. Heavy advertising through campaigns and media about the nutritional perspective of chocolates in order to boost the sales of dark chocolate.
Online channel to grow at CAGR of 50 %.
Online shopping that provides exciting offers and brands is attracting Indians. Digital India has greatly impacted the online sales of finished goods and product. Convenience, ease of searching, billing, wide selection of products and discounts and promotion fueled the online chocolate sale.
This report includes a study of marketing and development strategies, along with the portfolios of leading companies. It includes the profiles of leading manufacturers such as Cadbury, Five Star, Diary Milk, Gems, Perk, Amul, Mondelez International, Mars, Nestlé S.A., Ferrero SpA, The Hershey Company, Lindt & Sprüngli Ag, The Campo Ltd., Buttercup Confectionery Limited, Gcmmf Ltd and Maestro Swiss Trading (M) Sdn Bhd.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the India chocolate market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making the informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the India chocolate market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market of our clients and at the same time explain India chocolate market positioning of competitors.
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