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The India chocolate market reached a value of US$ 2.2 Billion in 2021 with the country currently representing one of the world’s fastest growing markets for chocolates. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2027, exhibiting a CAGR of 9.1% during 2022-2027. 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.
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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.
IMARC Group provides an analysis of the key trends in each sub-segment of the India chocolate market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on type, product form, packaging type and distribution channel.
Breakup by Type:
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Breakup by Product Form:
Breakup by Packaging Type:
Breakup by Distribution Channel:
Breakup by Region:
This report includes:
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:
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 Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| 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: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499 |
| 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) |
The India chocolate market was valued at US$ 2.2 Billion in 2021.
We expect the India chocolate market to exhibit a CAGR of 9.1% during 2022-2027.
The emerging popularity of organic, vegan, and sugar- and gluten-free chocolates in various baked
goods, confectioneries, Western desserts, etc., is primarily driving the India chocolate market.
The 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 across the nation.
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 product form, the India chocolate market has been divided into moulded, countline,
and others. Among these, moulded form exhibits 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 India chocolate 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,
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, etc.
10% Free customization
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