India Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The pervasive health and wellness trend continues to influence the dark chocolate market, with manufacturers incorporating organic ingredients and natural sweeteners. In the recent past, the demand for dried fruits, as well as blueberries and cranberries has witnessed steady growth in the manufacture of dark chocolate. The consumers are concerned about the impact of their food intake on their health and wellness. The health benefits associated with dark chocolate are high, owing to the high percentage of cocoa present in it. Thus, the high-quality premium dark chocolates are consumed comparatively more. Moreover, consumers are ready to pay for premium and high-quality products, thus the penetration is growing, as the consumers are more inclined toward the brand and quality of the chocolate.

The segment accounts for a considerable share in the chocolate sales, with dark chocolates, boxed chocolates, molded chocolate becoming a popular choice among the consumers. Owing to a huge retail space catering to a wide variety of preferences, the supermarkets/hypermarkets are dominant channels for the sales of chocolate in the country. Factors, such as business expansion and rising number of hypermarkets and supermarkets, add to the sales of these retail formats and significantly contribute to the higher penetration of premium chocolate. Shopping at the hypermarkets/supermarkets is also perceived useful, due to the wide selection of brands on offer, considerable shelf-space, and frequent price promotions.