Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | 12.8 % |
| Fastest Growing Segment: | Dark Chocolate |
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Market Overview
India Chocolate Market is growing, witnessing a CAGR 12.8% over the forecast period.
- The India Chocolate Market is growing appetite for premium chocolate and the availability of dark chocolate brands such as Lindt, Hershey, Toblerone among others has led to the increased market penetration for dark chocolates. Also, the low sugar content in the dark chocolates is another reason for propelling the demand of dark chocolates, as consumers have become aware of high sugar intake and its link with chronic diseases like diabetes.
- The consumers in India have been shifting their preference towards chocolate products over traditional sweets. The rising disposable income of the middle-class population in the country has affected the market space for the overall chocolate consumption.
Scope of the Report
India Chocolate Market is segmented by type into Dark Chocolate, Milk and White Chocolate. The market is segmented by product into Softlines/Selflines, Boxed Assortments, Countlines, Seasonal Chocolates, Molded Chocolates and Other Product Types. The market is segmented by distribution channel such as Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Online Channel and Other Distribution Channels.
| By Type | |
| Dark Chocolate | |
| Milk and White Chocolate |
| By Product | |
| Softlines/Selflines | |
| Boxed Assortments | |
| Countlines | |
| Seasonal Chocolates | |
| Molded Chocolates | |
| Other Product Types |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialist Retailers | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
Key Market Trends
Dark Chocolate Holds A Major Share
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.
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Increasing Consumption of Cocoa Powder
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.
Competitive Landscape
The market studied is highly fragmented, and consists of regional and international competitors. It is dominated by players, like Mars, Incorporated, The Hershey Company, Nestlé SA, Ferrero SpA, Mondelez International Inc etc.
Major Players
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Dark Chocolate
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5.1.2 Milk and White Chocolate
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5.2 By Product
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5.2.1 Softlines/Selflines
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5.2.2 Boxed Assortments
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5.2.3 Countlines
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5.2.4 Seasonal Chocolates
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5.2.5 Molded Chocolates
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5.2.6 Other Product Types
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5.3 By Distribution Channel
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5.3.1 Supermarkets/Hypermarkets
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5.3.2 Specialist Retailers
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5.3.3 Convenience Stores
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5.3.4 Online Retail Stores
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5.3.5 Other Distribution Channels
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Mondelez International, Inc
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6.4.2 Mars Incorporated
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6.4.3 Nestle S.A.
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6.4.4 Ferrero SpA
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6.4.5 The Hershey Company
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6.4.6 Lindt & Springli Ag
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6.4.7 The Campo Ltd.
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6.4.8 Buttercup Confectionery Limited
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The India Chocolate Market market is studied from 2016 - 2026.
What is the growth rate of India Chocolate Market?
The India Chocolate Market is growing at a CAGR of 12.8% over the next 5 years.
What is India Chocolate Market size in 2026?
The India Chocolate Market is valued at Dark Chocolate in 2026.
Who are the key players in India Chocolate Market?
Mondelez International Inc., Mars Inc., Ferrero, Nestle SA, Hershey Co. are the major companies operating in India Chocolate Market.
