Market Research report titled Branded Chocolate Market in India 2017 states that the chocolate market in India is projected to grow at a CAGR of 17.8% between FY 2017 to FY 2022. In the branded chocolate segment, Mondelez India has 65% market share and its closest competitor is Nestle with 20% market share.
International brands, such as, Mars and homegrown brand Amul are also gaining momentum in terms of sales and reach in the country. Other prominent players in the industry are ITC, Lotus Chocolate, Parle and Campco. Though milk chocolates account for majority of the revenues, but dark chocolate is also gaining popularity among the Indian consumers.
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India has woken up to the fad of chocolate being considered as a gift proposition. While even till few years back traditional sweets / mithai were the only option in delicacy gifting, overt media exposure and smart marketing techniques have positioned chocolates as an alternative.
Further, entry of major players in the country has increased the availability of such products. Another feature that works for this sector is the attractive pricing of products which particularly suits the Indian scenario wherein consumers seek economical products.
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However, factors such as high entry barriers and high excise and import duties pose as impediments towards the sector growth. The major trends identified include emergence of premium chocolates, surfacing of dark chocolates, concept of chocolate boutique, demand for healthy options and entry of retailers and confectioners.
Overview of the branded chocolate market in India and forecasted branded chocolate market size over 2014 to 2022e
- Market segmentation
- Methods for bean processing and its manufacturing process
- Value chain analysis of branded chocolates
- Understanding the major drivers and challenges affecting the market
- Analysis of the competitive landscape and detailed profiles of major public and private players
- Get a broad understanding of the branded chocolate market in India
- Be informed about the trends, manufacturing process, distribution channel of branded chocolate market
- Understand major competitors’ business, market dynamics, and respond accordingly
- Be informed regarding the key areas of opportunity in the branded chocolate market
- Make more informed business decisions with the help of insightful recommendations provided to succeed in the branded chocolate segment
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