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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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