India Chocolate Market: Industry Trends and Forecast Analysis (2021-2027) by Product Type, Product Form, Distribution Channel, Packaging Type, and Region.

India Chocolate market is expected to reach US$ 4.24 Bn., with a CAGR of 11.5% for the period 2021-2027, thanks to international chocolate producers are increasingly concentrating their efforts in rural India.

India Chocolate Market Overview:

The chocolate confectionery market in India was valued at USD 1.98 billion in 2020. Today, the country is regarded as one of the world's fastest-growing chocolate markets. As a result, this tendency has strengthened the chocolate packaging business, which includes films and paper. The chocolate confectionery sector has grown as a result of India's robust economic growth over the last decade, which has catalyzed the country's per capita disposable incomes. Chocolates aren't just for kids; they're for everyone. If you merely look at the consumption scenario in India, you will notice that chocolate is consumed by everyone from adolescents to young people to middle-aged individuals. And there have been studies to back this up. This is why India's chocolate sector is expanding at a rapid pace. Chocolates are currently present at the most momentous occasions in India, such as Diwali festivities, weddings, engagements, and birthday celebrations. Most chocolate brands in India produce chocolates in a variety of sizes, shapes, and patterns, with prices to match. The most popular chocolates, such as Dairy Milk and Five Star, may be purchased for as little as Rs. 5. The chocolate industry, for the most part, caters to younger generations. Because the majority of India's population is under the age of 25, the chocolate-giving tradition is very much alive and well in the country. Other variables that contribute to chocolate sales include westernization, progressive ideals, and a casual fun lifestyle. The chocolate sector is thriving due to an increase in the gifting of chocolates for festivals or special days such as Valentine's Day, Rakhi, Diwali, or birthdays. India Chocolate Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done good in lockdown also and specific strategic analysis of those companies is done in the report. Highlights: • International chocolate producers are increasingly concentrating their efforts in rural India. • Increased disposable income has enabled rural Indians to afford items such as chocolates. • As the market expands, more large companies attempt to acquire market share through novel techniques.

India Chocolate Market Dynamics:

The recent innovations in the India Chocolate Market include the introduction of chocolates with Indian components such as cinnamon, jasmine, chilli, and cardamom, as well as dark chocolate. Premium and dark chocolate products have grown in popularity as individuals become more concerned about their health and sugar consumption. Chocolate makers have also begun to develop organic, vegan, sugar-free, and gluten-free chocolates. Dried fruits, blueberries, and cranberries have also been tried as extra components in dark chocolate bars. Consumers have begun to shift toward smaller packs, and bite-sized servings are gaining popularity in India, indicating an increase in health-consciousness among Indian consumers attempting to regulate portion size. The Indian chocolate market is predicted to rise at an exponential rate in the next years as people become more conscious of health concerns and their tastes and preferences change as a result of an increase in adulteration of Indian sweets. Furthermore, purchasing chocolates is a result of customers' impulsive behavior to celebrate small moments of delight and happiness, which has no impact on the chocolate business even during an economic slowdown or recession. The introduction of multinational brands, the availability of a wide range of tastes, and the expansion of online chocolate distribution are the primary drivers driving the growth of the Indian chocolate market. Furthermore, urban consumers account for more than 70% of chocolate consumption, and the country offers enormous prospects in undiscovered rural areas. Furthermore, upgrading the country's rural distribution network is projected to attract global corporations to invest in the Indian chocolate sector. With relatively mature European and American markets, global chocolate industry players are looking to grow their presence and market share in India. The milk chocolate segment accounted for the majority of market share of nearly 75% in 2019, however the dark chocolate segment is expected to hold the market share of 9% increase the most over the forecast period, thanks to the health benefits connected with it. Also, with the growing habit of giving chocolates as gifts, premium chocolates are expected to gain widespread acceptance in India in the future. For example, Cadbury and Nestlé, have successfully launched dark chocolate brands such as Bournville and Nestlé Dark Chocolate. Report 2021 offers a wide-ranging analysis of the important segments like market opportunities, market dynamics, key manufacturers, growth rate, import-export details, and key regions. India Chocolate Market reports offer a detailed valuation of the India Chocolate including enabling technologies, current market scenario, market assumptions, restraining factors. India Chocolate Market Trends: Increasing Demand of Premium and Healthy Chocolates People in India want to indulge themselves with bite-sized chocolates to restrict their confectionery consumption, hence the premium chocolate industry is highly popular. Premium chocolate fits very nicely with the country's 'clean eating' trend. Because chocolate has been shown to have several health benefits, people are opting for luxury chocolates for a guilt-free experience. Supermarkets and hypermarkets such as D-Mart and Reliance Mart are attempting to acquire market momentum by carrying premium chocolate brands such as Ferrero. Premium chocolate has well-balanced components, which is beneficial to health and lowers the risk of low blood pressure and cholesterol. Nanofabrication technologies are emerging as innovative solutions across the India, with the goal of developing active materials for use in the design of packages, coatings, and packaging technologies, which helps in maintaining and improving the sensorial and nutritional characteristics and safety of foodstuffs, as well as increasing their shelf life. The demand for eco-friendly and sustainable packaging is continuously increasing as public awareness grows. The country is focused more on long-term solutions, which are rapidly becoming a commercial necessity. Eco-friendly food packaging goods are provided by companies such as Evirocor in India to food outlets, restaurants, hotels, hospitals, industries, caterers, and all other customers. The increased use of eco-friendly packaging is likely to boost market growth. Competitive Scenario: The Competitive Scenario presents an outlook study of the suppliers' various business growth strategies. The stories in this part give helpful views at various stages while keeping up to speed with the business and engaging players in the economic debate. The competitive scenario includes press releases or news from organizations in the following categories: Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All of the news gathered assists vendors in understanding market gaps and competitors' strengths and weaknesses, consequently providing insights to improve product and services. According to the firm's most recent data, chocolate is one of the most popular confectionary goods in India, with 61 percent of Indians enjoying it daily or at least once a week. Importantly, health benefits such as sugar reduction have emerged as some of the most important aspects for consumers when choosing their chocolate, as evidenced by some of the big local launches by major brands in the previous year, such as Mondelez's Cadbury Dairy Milk 30 percent Less Sugar. • Mondelez, in particular, has had great success in India. It maintains a leading position in chocolate confectionery, accounting for 65% of India's 12,090-crore ($1.73 billion) chocolate confectionery market. Dairy Milk accounts for 42% of the chocolate market. • Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) also has its sights set on the healthy chocolate category with its chocolate brand Amul, which has produced 75 percent, 90 percent, and 99 percent dark chocolates — with intentions to launch a 100 percent variety soon. The objective of the report is to present a comprehensive analysis of the India Chocolate to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the India Chocolate dynamics, structure by analyzing the market segments and projecting the India Chocolate size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the India Chocolate make the report investor’s guide.

India Chocolate Market Scope: Inquire before buying

India Chocolate Market

India Chocolate Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

India Chocolate Market Key Players

Mondelez India Foods Private Limited • Ferrero India Private Limited • Nestle India Limited • Mars International India Private Limited • ITC Limited • Gujarat Cooperative Milk Marketing Federation Ltd. • Hershey India Private Limited • Global Consumer Products Private Limited • Surya Food & Agro Ltd. • Lotus Chocolate Company Limited • Others

Frequently Asked Questions:

1. Which region has the largest share in India Chocolate Market? Ans: North India held the largest share in 2020. 2. What is the growth rate of the India Chocolate Market? Ans: The India Chocolate Market is growing at a CAGR of 11.5% during the forecasting period 2021-2027. 3. What segments are covered in India Chocolate market? Ans: India Chocolate Market is segmented into Product Type, Product Form, Distribution Channel, Packaging Type, and Region. 4. Who are the key players in India Chocolate market? Ans: The important key players in the India Chocolate Market are Mondelez India Foods Private Limited, Ferrero India Private Limited, Nestle India Limited, Mars International India Private Limited, ITC Limited, Gujarat Cooperative Milk Marketing Federation Ltd., Hershey India Private Limited, Global Consumer Products Private Limited, Surya Food & Agro Ltd., and Lotus Chocolate Company Limited. 5. What is the study period of this market? Ans: The India Chocolate Market is studied from 2020 to 2027.
1. India Chocolate Market: Research Methodology 2. India Chocolate Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to India Chocolate Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. India Chocolate Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North India • West and Central India • East India • South India 3.12. COVID-19 Impact 4. India Chocolate Market Segmentation 4.1. India Chocolate Market, by Product Type (2020-2027) • Milk Chocolate • Dark Chocolate • White Chocolate 4.2. India Chocolate Market, by Distribution Channel (2020-2027) • Retail Sales • Institutional Sales 4.3. India Chocolate Market, by Product Form (2020-2027) • Moulded • Countline • Others 4.4. India Chocolate Market, by Packaging Type (2020-2027) • Pouches and Bags • Boxed Chocolate • Others 5. North India Chocolate Market(2020-2027) 5.1. North India Chocolate Market, by Product Type (2020-2027) • Milk Chocolate • Dark Chocolate • White Chocolate 5.2. North India Chocolate Market, by Distribution Channel (2020-2027) • Retail Sales • Institutional Sales 5.3. North India Chocolate Market, by Product Form (2020-2027) • Moulded • Countline • Others 5.4. North India Chocolate Market, by Packaging Type (2020-2027) • Pouches and Bags • Boxed Chocolate • Others 6. West and Central India Chocolate Market (2020-2027) 6.1. West and Central India Chocolate Market, by Product Type (2020-2027) 6.2. West and Central India Chocolate Market, by Distribution Channel (2020-2027) 6.3. West and Central India Chocolate Market, by Product Form (2020-2027) 6.4. West and Central India Chocolate Market, by Packaging Type (2020-2027) 7. East India Chocolate Market (2020-2027) 7.1. East India Chocolate Market, by Product Type (2020-2027) 7.2. East India Chocolate Market, by Distribution Channel (2020-2027) 7.3. East India Chocolate Market, by Product Form (2020-2027) 7.4. East India Chocolate Market, by Packaging Type (2020-2027) 8. South India Chocolate Market (2020-2027) 8.1. South India Chocolate Market, by Product Type (2020-2027) 8.2. South India Chocolate Market, by Distribution Channel (2020-2027) 8.3. South India Chocolate Market, by Product Form (2020-2027) 8.4. South India Chocolate Market, by Packaging Type (2020-2027) 9. Company Profile: Key players 9.1. Mondelez India Foods Private Limited 9.1.1. Company Overview 9.1.2. Financial Overview 9.1.3. Global Presence 9.1.4. Capacity Portfolio 9.1.5. Business Strategy 9.1.6. Recent Developments 9.2. Ferrero India Private Limited 9.3. Nestle India Limited 9.4. Mars International India Private Limited 9.5. ITC Limited 9.6. Gujarat Cooperative Milk Marketing Federation Ltd. 9.7. Hershey India Private Limited 9.8. Global Consumer Products Private Limited 9.9. Surya Food & Agro Ltd. 9.10. Lotus Chocolate Company Limited 9.11. Others

About This Report

Report ID 24126
Category Food & Beverages
Published Date Jan 2019
Updated Date Nov 2021
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