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India Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
Market Overview 2021-2026:
The India chocolate market reached a value of US$ 1.9 Billion in 2020 with the country currently representing one of the world’s fastest growing markets for chocolates. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
India’s strong economic growth over the past decade has catalyzed the country’s per capita disposable incomes resulting in the strong growth of the chocolate industry. As a result, consumers are now buying chocolates for everyday consumption rather than just special occasions.
Another major factor driving the chocolate industry is the country’s large young population which represents a key consumer segment for chocolates. Currently around half of the total population in India is below the age of 25 years and two thirds are below the age of 35 years. Other factors driving the market include changing lifestyles, westernization, growth of the food services sector, value addition, etc. Driven by these factors chocolates are replacing traditional sweets in the country.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India chocolate market, along with forecasts for growth at the country and regional level from 2021-2026. Our report has categorized the market based on type, product form, packaging type, and distribution channel.
Breakup by Type
- Milk Chocolate
- Dark Chocolate
- White Chocolate
Breakup by Product Form
- Moulded
- Countline
- Others
Breakup by Packaging Type
- Pouches and Bags
- Boxed Chocolate
- Others
Breakup by Distribution Channel
- Retail Sales
- Institutional Sales
Breakup by Region
- North India
- East India
- West and Central India
- South India
This report includes:
- Historical, Current and Future Market Trends
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- PESTEL Analysis
- Government Regulations
Competitive Landscape:
Indian chocolate industry is highly fragmented with the presence of several small and large players competing in terms of price and quality. Some of the major players in the India chocolate market are:
- Mondelez India Foods Private Limited
- Ferrero India Private Limited
- Nestle India Limited
- Mars International India Private Limited
- ITC Limited
- Gujarat Cooperative Milk Marketing Federation Ltd.
- Hershey India Private Limited
- Global Consumer Products Private Limited
- Surya Food & Agro Ltd.
- Lotus Chocolate Company Limited
This report provides a deep insight into the Indian chocolate market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for chocolate manufacturers, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian chocolate market in any manner.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2020 |
| Historical Period | 2015-2020 |
| Forecast Period | 2021-2026 |
| Units | US$ Billion |
| Segment Coverage | Type, Product Form, Packaging Type, Distribution Channel, Region |
| Region Covered | North India, West and Central India, South India, East India |
| Companies Covered | Mondelez India Foods Private Limited, Ferrero India Private Limited, Nestle India Limited, Mars International India Private Limited, ITC Limited, Gujarat Cooperative Milk Marketing Federation Ltd., Hershey India Private Limited, Global Consumer Products Private Limited, Surya Food & Agro Ltd., and Lotus Chocolate Company Limited |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License $ 1999 Five User License $ 2999 Corporate License $ 3999 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Question Answered in this Report
The India chocolate market was valued at US$ 1.9 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of chocolates.
We expect the India chocolate market to exhibit a CAGR of 11.3% during 2021-2026
The increasing consumer preferences towards chocolate-based baked goods, confectioneries, western desserts, etc., in the country represents one of the key factors driving the India chocolate market.
Based on the type, the India chocolate market can be bifurcated into milk chocolate, dark chocolate, and white chocolate. Currently, milk chocolate holds the majority of the total market share.
Based on the packaging type, the India chocolate market has been divided into pouches and bags, boxed chocolate, and others. Among these, pouches and bags exhibit a clear dominance in the market.
On a regional level, the market has been classified into North India, East India, West and Central India, South India, where North India currently dominates the market.
Some of the major players in the India chocolate market include Mondelez India Foods Private Limited, Ferrero India Private Limited, Nestle India Limited, Mars International India Private Limited, Gujarat Cooperative Milk Marketing Federation Ltd., Hershey India Private Limited, Global Consumer Products Private Limited, Surya Food & Agro Ltd., Lotus Chocolate Company Limited, and ITC Limited.
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