According to the latest report by IMARC Group, titled “India Confectionery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the India confectionery market size reached INR 338.2 Billion in 2022. Confectionery comprises a wide range of food products that are primarily made with sugar or sweeteners. It involves candies, chocolates, gums, jellies, toffees, caramels, mints, and pastries. It is manufactured from various ingredients, such as gelling, stabilizers, thickening agents, flavoring, and emulsifiers, which benefits in enhancing the taste, elasticity, texture, and appearance of products. As it is a popular choice for celebrations and gifting, the demand for confectionery is rising in India.
India Confectionery Market Trends:
At present, the rising popularity of imported chocolates and candies due to the changing consumer eating pattern represents one of the key factors impelling the growth of the market in India. In line with this, the growing adoption of confectionery items, as they are convenient and ready-to-eat (RTE) food products, is offering a favorable market outlook in the country. Additionally, there is a rise in the demand for nutritious confectionery items among health-conscious consumers in India. This, coupled with the increasing adoption of reduced sugar content, fewer chemical additives, and more natural or organic ingredients, is offering lucrative growth opportunities to industry investors. Apart from this, the rising introduction of anti-microbial packaging solutions that maintain quality and prevent product deterioration is supporting the growth of the market. Moreover, the wide availability of confectionery products through online and offline distribution channels in India is bolstering the growth of the market. Furthermore, key players are introducing premium confectionery products that comprise high-quality nuts, grains, and cereals, which is strengthening the growth of the market in India. Looking forward, the market value is projected to reach INR 485.9 Billion by 2028, expanding at a CAGR of 6.3% during 2023-2028.
- Based on the product type, the market has been segregated into hard-boiled sweets, mints, gums and jellies, chocolate, caramels and toffees, medicated confectionery, fine bakery wares, and others. Presently, chocolate represents the most popular product type in India.
- On the basis of the age group, the market has been divided into children, adult, and geriatric. At present, adult represents the largest segment.
- Based on the price point, the market has been classified into economy, mid-range, and luxury. Economy currently holds the largest market share.
- On the basis of distribution channel, the market has been segmented into supermarkets and hypermarkets, convenience stores, pharmaceutical and drug stores, online stores, and others. Among these, supermarkets and hypermarkets account for the majority of the market share.
- Region-wise, the market has been categorized into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Product Type, Age Group, Price Point, Distribution Channel, Region
||North India, West and Central India, South India, East India
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