India Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

India Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A1185
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Market Overview 2023-2028:

The India chocolate market size reached US$ 2.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028.

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India chocolate market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on type, product form, packaging type and distribution channel.

Breakup by Type:

 

 
 

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  • 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 2022
Historical Period 2017-2022
Forecast Period 2023-2028
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)

Key Questions Answered in This Report

The India chocolate market was valued at US$ 2.4 Billion in 2022.

We expect the India chocolate market to exhibit a CAGR of 8.8% during 2023-2028.

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.

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India Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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