Market Size of india chocolate Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 2.31 Billion |
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Market Size (2030) | USD 3.58 Billion |
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Largest Share by Distribution Channel | Convenience Store |
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CAGR (2024 - 2030) | 7.58 % |
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Fastest Growing by Distribution Channel | Online Retail Store |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Chocolate Market Analysis
The India Chocolate Market size is estimated at 2.31 billion USD in 2024, and is expected to reach 3.58 billion USD by 2030, growing at a CAGR of 7.58% during the forecast period (2024-2030).
2.31 Billion
Market Size in 2024 (USD)
3.58 Billion
Market Size in 2030 (USD)
7.57 %
CAGR (2018-2023)
7.58 %
CAGR (2024-2030)
Largest Segment by Confectionery Variant
75.68 %
value share, Milk and White Chocolate, 2023
The innovative flavor offerings possible in White chocolate, followed by the preference for varied taste profiles in the region, are anticipated to drive segmental growth.
Largest Segment by Distribution Channel
70.29 %
value share, Convenience Store, 2023
Convenience stores have been consistent at directly addressing local shopper needs, reinventing formats, and rapidly tailoring their assortments, making it a larger segment.
Fastest-growing Segment by Confectionery variant
8.07 %
Projected CAGR, Dark Chocolate, 2024-2030
Rising awareness among consumers toward the nutritional content and stress-relieving ability of dark chocolate is anticipated to drive the demand in the country.
Fastest-growing Segment by Distribution Channel
9.09 %
Projected CAGR, Online Retail Store, 2024-2030
The ease of shopping experience through online channels and the increasing number of retailers present in this channel has become the major driver in the segment.
Leading Market Player
51.54 %
market share, Mondelēz International Inc., 2022
An extensive range of product offerings and the company's main focus on taste and nutritional profiles based on consumer preferences support Mondelēz in the market studied.
Convenience stores accounted for major share of sales chocolate across the country due to easy accessibility
- Convenience stores are the most widely preferred distribution channels for purchasing chocolates in India. Convenience stores are very easy to approach as they are located near residential and commercial areas and generally offer affordable chocolates. The sales value of chocolates in convenience stores increased by 7% in 2023 compared to 2022.
- Supermarkets and hypermarkets are the second-largest retail channels in India’s chocolate market. The rising urbanization and smart city development policies are promoting the expansion of supermarkets and hypermarkets in the country. Milk and white chocolate are largely sold confections through supermarkets and hypermarkets, with a market volume share of 77.74% in 2023.
- Reliance Retail, Future Retail, D-Mart, Big Bazar, Hypercity, and others are some of the leading supermarket operators in the country. A nationwide network of these operators allows easy access to both local and mainstream chocolate brands. As of 2023, Big Bazar operates more than 285 stores in India. Also, D-Mart operates around 200 supermarkets across the country.
- Online channels are identified as the fastest-growing distribution channel during the forecast period. Online sales of chocolates in the country are expected to register a CAGR of 9.04%, reaching USD 46.67 million by 2030. An increasing number of online shoppers in response to internet penetration is identified as the key market driver in the country. Also, consumers are increasingly opting for the convenience and fast delivery that online platforms offer. As of 2023, 3% of household consumers in India paid the delivery fee and got groceries delivered within 30 minutes, and 11% of consumers waited up to 3 hours and paid a small delivery fee.
Understand The Key Trends Shaping This Market
