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India Chocolate Market to Reach US$ 3.8 Billion by 2027, Impelled by Changing Dietary Patterns of Masses

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India Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview 2022-2027:

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.

Key Market Segmentation:

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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  • 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 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)

1   Preface
2   Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   India Chocolate Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Type
    5.5    Market Breakup by Product Form
    5.6    Market Breakup by Packaging Type
    5.7    Market Breakup by Distribution Channel
    5.8    Market Breakup by Region
    5.9    Market Forecast
    5.10    SWOT Analysis
        5.10.1    Overview
        5.10.2    Strengths
        5.10.3    Weaknesses
        5.10.4    Opportunities
        5.10.5    Threats
    5.11    Value Chain Analysis
        5.11.1    Overview
        5.11.2    Cocoa Growers
        5.11.3    Cocoa Grinders
        5.11.4    Coverture/Industrial Chocolate Manufacturers
        5.11.5    End Use Industries
        5.11.6    Chocolate Manufacturers
        5.11.7    Distributors
        5.11.8    Exporters
        5.11.9    Retailers
    5.12    Porters Five Forces Analysis
        5.12.1    Overview
        5.12.2    Bargaining Power of Buyers
        5.12.3    Bargaining Power of Suppliers
        5.12.4    Degree of Competition
        5.12.5    Threat of New Entrants
        5.12.6    Threat of Substitutes
    5.13    PESTEL Analysis
        5.13.1    Political
        5.13.2    Economic
        5.13.3    Social
        5.13.4    Legal
        5.13.5    Environmental
        5.13.6    Technological
    5.14    Price Analysis
        5.14.1    Key Price Indicators
        5.14.2    Price Structure
        5.14.3    Margin Analysis
6   Market Breakup by Type
    6.1    Milk Chocolate
        6.1.1    Market Trends
       6.1.2    Market Forecast
    6.2    Dark Chocolate
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    White Chocolate
        6.3.1    Market Trends
        6.3.2    Market Forecast
7   Market Breakup by Product Form
    7.1    Moulded 
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Countline
        7.2.1    Market Trends
        7.2.2    Market Forecast
     7.3    Others
        7.3.1    Market Trends
        7.3.2    Market Forecast
8   Market Breakup by Packaging Type
    8.1    Pouches and Bags
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Boxed Chocolate
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Others 
        8.3.1    Market Trends
        8.3.2    Market Forecast
9   Market Breakup by Distribution Channel
    9.1    Retail Sales
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Institutional Sales
        9.2.1    Market Trends
        9.2.2    Market Forecast
10  Market Breakup by Region
    10.1    North India
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    West and Central India
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    South India
        10.3.1    Market Trends
        10.3.2    Market Forecast
     10.4    East India
        10.4.1    Market Trends
        10.4.2    Market Forecast
11  Government Regulations
12  Strategic Recommendations
13  Competitive Landscape
    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    Mondelez India Foods Private Limited
        13.3.2    Ferrero India Private Limited
        13.3.3    Nestlé India Limited
        13.3.4    Mars International India Private Limited
        13.3.5    Gujarat Cooperative Milk Marketing Federation Ltd. 
        13.3.6    Hershey India Private Limited
        13.3.7    Global Consumer Products Private Limited
        13.3.8    Surya Food & Agro Ltd. 
        13.3.9    Lotus Chocolate Company Limited 
        13.3.10     ITC Limited 

List of Figures

Figure 1: India: Chocolate Market: Major Drivers and Challenges
Figure 2: India: Chocolate Market: Sales Value (in Billion US$), 2016-2021
Figure 3: India: Chocolate Market: Breakup by Type (in %), 2021
Figure 4: India: Chocolate Market: Breakup by Product Form (in %), 2021
Figure 5: India: Chocolate Market: Breakup by Packaging Type (in %), 2021
Figure 6: India: Chocolate Market: Breakup by Distribution Channel (in %), 2021
Figure 7: India: Chocolate Market: Breakup by Region (in %), 2021
Figure 8: India: Chocolate Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 9: India: Chocolate Industry: SWOT Analysis
Figure 10: India: Chocolate Industry: Value Chain Analysis
Figure 11: India: Chocolate Industry: Porter’s Five Forces Analysis
Figure 12: India: Chocolate Industry: PESTEL Analysis
Figure 13: India: Chocolate (Milk Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: India: Chocolate (Milk Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: India: Chocolate (Dark Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: India: Chocolate (Dark Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: India: Chocolate (White Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: India: Chocolate (White Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: India: Chocolate (Pouches and Bags) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: India: Chocolate (Pouches and Bags) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: India: Chocolate (Boxed Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: India: Chocolate (Boxed Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: India: Chocolate (Other Packaging Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: India: Chocolate (Other Packaging Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: India: Chocolate (Moulded) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: India: Chocolate (Moulded) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: India: Chocolate (Countline) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: India: Chocolate (Countline) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: India: Chocolate (Other Forms) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: India: Chocolate (Other Forms) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: India: Chocolate Market: Retail Sales (in Million US$), 2016 & 2021
Figure 32: India: Chocolate Market Forecast: Retail Sales (in Million US$), 2022-2027
Figure 33: India: Chocolate Market: Institutional Sales (in Million US$), 2016 & 2021
Figure 34: India: Chocolate Market Forecast: Institutional Sales (in Million US$), 2022-2027
Figure 35: North India: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: North India: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: West and Central India: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: West and Central India: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: South India: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: South India: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: East India: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: East India: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
 
List of Tables

Table 1: India: Chocolate Market: Key Industry Highlights, 2021 and 2027
Table 2: India: Chocolate Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: India: Chocolate Market Forecast: Breakup by Product Form (in Million US$), 2022-2027
Table 4: India: Chocolate Market Forecast: Breakup by Packaging Type (in Million US$), 2022-2027
Table 5: India: Chocolate Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 6: India: Chocolate Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: India: Chocolate Market: Competitive Structure
Table 8: India: Chocolate Market: Key Players


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Key Questions Answered in This Report

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.

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