India Chocolate Market | Growth | Trends

Market Snapshot

Study Period:

2016-2024

Base Year:

2018

CAGR:

12.28%

Key Players:

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Market Overview

India Chocolate Market is expected to reach USD 1,833.28 million by 2024, witnessing a CAGR 12.8% over the forecast period, 2019-2024.

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 Product Type such as white chocolate, dark chocolate and by Distribution Channel such as Convenience Stores, Specialist Retailers, Supermarkets and Hypermarkets, On-line Retail, Variety Stores, and Other Distribution Channel.

By Product Type
		White Chocolate
		Dark Chocolate
		Milk Chocolate

By Distribution Channel
		Convenience Stores
		Specialist Retailers
		Supermarkets and Hypermarkets
		On-line Retail
		Other Distribution Channel

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Key Market Trends

Demand for Chocolate Flavor in Bakery and Confectionery Industry

The consumer demand for indulgence and convenience has led to a significant growth in bakery products. The artisanal bakers are experimenting more and more with flavors and ingredients in a variety of bakery products ranging from cakes, pastries, cookies, etc. The trend of hybrid traditional sweets in terms of flavors, spices, and other ingredients often influenced with Western culture has fuelled the demand for chocolate in traditional sweets as well. For example: nut and milk sweets are often topped with fine chocolate while some truffle sweets filled with dried fruits and spices are being hand rolled in chocolate and nut powders.

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Increasing Consumption of Cocoa Powder

Cocoa powders have been utilized for their role as flavoring and coloring agent, specifically in the beverages and baking industries. Cocoa powders have been utilized for their role as flavoring and coloring agent, specifically in the beverages and baking industries. The vivid application of cocoa powders in products, such as ice creams, milkshakes, and frozen desserts, has led to burgeoning demand. The manufacturers have been offering cocoa powders in different flavor profiles, ranging from fruity natural to bitter cocoa, and different colors, ranging from vibrant reds to dark brown, as well as black. There are customizations available. For example, natural and alkalized options, throughout the full pH range of cocoa powders.

Competitive Landscape

The India Chocolate market is competitive with top five multinational players accounting for the major share.The most active companies in the market include key players, such as Mondelez International Inc, Mars Inc., Ferrero, Nestle SA, Hershey Co., and Lindt & Sprüngli Ag.,among others.

Major Players

* Complete list of players covered available in the table of contents below

market concentration india chocolate market

1. INTRODUCTION
1. 1.1 Study Deliverables
2. 1.2 Study Assumptions
3. 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
1. 3.1 Market Overview
4. MARKET DYNAMICS
1. 4.1 Market Drivers
2. 4.2 Market Restraints
3. 4.3 Porter's Five Forces Analysis
  1. 4.3.1 Threat of New Entrants
  2. 4.3.2 Bargaining Power of Buyers/Consumers
  3. 4.3.3 Threat of Substitute Products
  4. 4.3.4 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
1. 5.1 By Product Type
  1. 5.1.1 White Chocolate
  2. 5.1.2 Dark Chocolate
  3. 5.1.3 Milk Chocolate
2. 5.2 By Distribution Channel
  1. 5.2.1 Convenience Stores
  2. 5.2.2 Specialist Retailers
  3. 5.2.3 Supermarkets and Hypermarkets
  4. 5.2.4 On-line Retail
  5. 5.2.5 Other Distribution Channel
6. COMPETITIVE LANDSCAPE
1. 6.1 Market Share Analysis
2. 6.2 Strategy Adopted by Key Players
3. 6.3 Company Profiles
  1. 6.3.1 Mondelez International, Inc
  2. 6.3.2 Mars, Incorporated
  3. 6.3.3 Nestle S.A.
  4. 6.3.4 Ferrero SpA
  5. 6.3.5 The Hershey Company
  6. 6.3.6 Lindt & Springli Ag
  7. 6.3.7 The Campo Ltd.
  8. 6.3.8 Buttercup Confectionery Limited
  9. 6.3.9 Gcmmf Ltd
  10. 6.3.10 Maestro Swiss Trading (M) Sdn Bhd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS