Top Companies in Indian Chocolate Market

The India chocolate market size reached USD 2.9 Billion in 2024. As per the analysis by IMARC Group, the market is expected to reach USD 5.5 Billion by 2033, exhibiting a growth rate (CAGR) of 7.30% during 2025-2033. The top companies in the India chocolate industry are introducing premium clean-label and specialty chocolate product variants in diverse shapes and flavors, such as nuts and raisins, to cater to evolving consumers' preferences. Additionally, the increasing health concerns and the emerging trend of veganism have encouraged leading manufacturers to produce vegetarian, plant-based, organic, gluten-free dark chocolates as a healthy alternative, which is acting as another growth-inducing factor.

Moreover, the widespread adoption of online delivery models and e-distribution channels, especially during the COVID-19 outbreak, to ensure product availability and expand their reach while following social distancing and lockdown protocols, is augmenting the market growth considerably. In line with this, the advent of advanced machines to optimize chocolate production procedures is impelling market growth. Along with this, extensive celebrity endorsements, strategic collaborations amongst key players to ensure fair trade of cocoa while strictly adhering to the labor welfare regulations, and the establishment of research and development (R&D) facilities in industries for creating safe and high-quality chocolate products are supplementing the product demand.

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List of Top Companies Operating in the Indian chocolate Industry:

The Indian chocolate market has several major players including Amul (GCMMF), DS Group, Ferrero India Private Limited, Hershey India Private Limited, ITC Limited, Lotus Chocolate Co. Ltd., Mars International India Private Limited, Mondelez India Foods Private Limited, and Nestlé India Ltd. More information about these companies has been provided below. 

1. Amul (GCMMF)

Amul is India’s largest dairy brand with a strong chocolate portfolio. The cooperative brings farmer ownership into the business model, giving it both scale and inclusivity. Its chocolates span milk, dark, and single-origin variants, designed to balance affordability with quality. Amul invests in local sourcing and value-added processing, strengthening India’s position in cocoa products. Its wide distribution ensures reach from metropolitan cities to small towns, making it accessible to both mass and premium segments. The brand combines heritage, trust, and continuous product variety to expand its presence in the growing chocolate market.

2. DS Group

DS Group, traditionally known for its confectionery and mouth-freshener products, has broadened its portfolio with chocolate and cocoa-based snacks under brands like LuvIt. Its offerings range from wafers and coated candies to bite-sized chocolate products aimed at young consumers. The company emphasizes attractive packaging and flavor innovation, appealing to price-sensitive as well as aspirational buyers. With expanding reach beyond its stronghold in northern India, DS Group is positioning itself as a challenger brand in chocolates. Its strategy blends scale with affordability, targeting impulse buyers and youth segments, while continuing to innovate around taste formats that connect with India’s diverse palate.

3. Ferrero India Private Limited

Ferrero entered India with a strong focus on premium confectionery and has invested in a large manufacturing base to support both local demand and exports. Its key brands—Ferrero Rocher, Kinder, and Nutella—position it as a leader in indulgent chocolate and spreads. The company highlights quality, safety, and sustainability in its operations, supported by initiatives in renewable energy and community programs. Ferrero has expanded its distribution across metros and Tier-2 cities, catering to affluent households, children, and gifting segments. By combining global expertise with local production, it has carved out a strong niche in India’s premium chocolate and confectionery market.

4. Hershey India Private Limited

Hershey India is the subsidiary of the global Hershey Company, offering chocolates, candies, and flavored beverages tailored for Indian consumers. Its chocolate products—led by Hershey’s Kisses and Exotic Dark—complement a broader range that includes spreads, syrups, and milk-based drinks. The company invests in adapting flavors to local preferences while leveraging its global expertise in cocoa processing and packaging innovation. Hershey has built a strong presence in metros and Tier-1 cities, appealing to young, urban consumers looking for premium experiences. With continued product launches and investments in India, the brand is strengthening its visibility in both impulse and at-home consumption.

5. ITC Limited

ITC, a diversified conglomerate, has entered chocolates with its premium Fabelle brand. Positioned as a luxury indulgence, Fabelle emphasizes artisanal production, high-quality ingredients, and chef-crafted recipes. ITC’s strengths in food R&D, agri sourcing, and pan-India distribution give it a unique edge to scale in the chocolate segment. Fabelle boutiques at ITC hotels and packaged premium chocolates allow it to reach both gifting and retail buyers. Sustainability is central to ITC’s broader strategy, with responsible sourcing integrated into its food businesses. By targeting affluent customers and positioning chocolate as a crafted experience, ITC is creating a strong identity in India’s premium segment.

6. Lotus Chocolate Co. Ltd.

Lotus Chocolate Company Limited is one of India’s leading manufacturers and suppliers of the finest cocoa derivates and chocolate. The company is widely involved in delivering its products to various chocolate makers and users, including bakeries and multinational companies across the globe. At present, the organization's services are segmented into consumer and industrial products and gifting. These segregated categories further entail a range of multiple commercially available items, such as kazoos, Milky Punch, On & On, chuckles, natural or alkalized cocoa liquor, sauces, and powder. Along with this, they also prepare exquisite hand-crafted premium chocolates after sourcing quality cocoa beans and using fully integrated manufacturing facilities to ensure the products are in compliance with norms established in the industry. 

7. Mars International India Private Limited

Mars India, part of the global Mars Incorporated, markets globally recognized brands such as Snickers, Galaxy, Bounty, and Twix in the country. The company has built a strong foothold in India by focusing on impulse snacking and on-the-go consumption formats. Mars emphasizes product innovation, portion control, and sustainability initiatives as part of its global commitments. In India, it caters largely to young adults and urban consumers, with Snickers emerging as a mass-premium favorite. With increasing investments in local operations and supply chain capabilities, Mars India is expanding availability across retail and e-commerce platforms, reinforcing its appeal as a global yet locally rooted brand.

8. Mondelez India Foods Private Limited

Mondelez India, formerly Cadbury India, has been synonymous with chocolate in the country for decades. Its flagship brand, Dairy Milk, remains a household name, supported by 5 Star, Perk, and Bournville in various price points. The company leverages strong R&D and supply chains in India, driving continuous innovation in flavors, packaging, and formats. Mondelez has also expanded into biscuits and beverages, strengthening its FMCG footprint. With deep penetration in both urban and rural markets, it serves mass consumers while also catering to premium indulgence and gifting. Mondelez’s long history and brand recall make it a market leader in chocolates.

9. Nestlé India Ltd.

Nestlé India, a leading FMCG company, runs a broad portfolio of chocolates and confectionery brands including KitKat, Munch, and Milkybar. The company emphasizes product innovation, with formats designed for sharing, gifting, and impulse snacking. Nestlé has invested in expanding its local manufacturing and distribution, ensuring a deeper reach into Tier-2 and Tier-3 towns alongside a strong metro presence. Sustainability, responsible sourcing, and nutrition are part of its long-term commitments in India. With products priced for everyday consumption as well as premium launches, Nestlé targets families, youth, and children alike, maintaining a strong foothold in the competitive chocolate and snacking market.

Get an inside look at the Indian chocolate market with exclusive insights, including:

• CAGR projections during the 2025-2033 forecast period.
• In-depth information on the factors that will fuel the Indian chocolate market growth in the next five years.
• Precise predictions regarding upcoming trends and potential changes in consumer behavior.
• Analysis of the Indian chocolate industry's expansion at the regional and global level.
• A thorough review of the market's competitive landscape and detailed information on key players.
• Detailed explanations of the challenges that could impede the growth of the Indian chocolate market.

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the chocolate industry in India, which has enabled clients to set up and expand their businesses successfully. 

Some of the company's offerings include:

• Market Research
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• Marketing and Sales
• Procurement and Distribution
• Innovation and Product Development