India chocolate market reached a value of US$ 1,495 Million in 2018 with the country currently representing one of the world’s fastest growing markets for chocolates. 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. Looking forward, we expect the chocolate market in India to reach revenues worth US$ 3,281 Million, growing at a CAGR of 14% during 2019-2024
The report has also analysed the competitive landscape of the market with some of the key players being Mondelez India Foods Private Limited, Ferrero India Private Limited, Nestlé 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.
Key Questions Answered in This Report:
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 Customization: Although IMARC has tried to cover everything in the chocolate market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20 man-hours of free customization for each report.
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