Top Companies in Indian Chocolate Market

Top Companies in Indian Chocolate Market

The India chocolate market size reached US$ 2.6 Billion in 2023. As per the analysis by IMARC Group, the top companies in the India chocolate industry are introducing premium clean-label and specialty chocolate product variants in diverse shapes and flavours, 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 are 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. Looking forward, IMARC Group expects the market to reach US$ 5.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.7% during 2024-2032.

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List of India Top Chocolate Companies:

Mondelez India Foods Private Limited

Establishment: 1948
Headquarters: Maharashtra

Mondelez India Foods Private Limited deals with the manufacturing and distribution of various beverages, biscuits, cookies, gum, candy, and chocolates. Their chocolate product segmentation includes incredible brands, including:

  • 5-star
  • Alpen Gold
  • Cadbury
  • Dairy Milk
  • Cote d’Or
  • Freia
  • Lacta
  • Marabou
  • Toblerone

These products are commercially available in fruit & nut, whole nut, caramello, and snack product variants. Apart from these, their chocolate products are globally supplied across 33 countries, including the United Kingdom (UK), Australia, and New Zealand.

Ferrero India Private Limited

Establishment: 2004
Headquarters: Maharashtra

Ferrero India Private Limited was incorporated in 2004. The company is currently unlisted and is identified as a company limited by shares. Ferrero India’s line of business includes the wholesale distribution of confectionery and related products that are sold under various prominent brands, such as:

  • Tic Tac
  • Kinder Joy
  • Ferrero Rocher
  • Nutella


Nestle India Limited

Establishment: 1959
Headquarters: Haryana

Nestle India Limited is one of the eminent manufacturers in the fast-moving consumer goods (FMCG) sector. They encompass internationally famous product groups, including Maggi, Milkybar, Milo, Kit Kat, Bar-One, Nestea, Munch, and Milkmaid. These products are commercially available in diverse product variants and are frequently endorsed in the market through the implementation of strategic marketing practices and advertisements.

Mars International India Private Limited

Establishment: 1994
Headquarters: Delhi

Mars International India Private Limited, owned by Mars, Incorporated, manufactures and distributes sugar and confectionery, food, and animal food products under the main category of Mars Petcare, Food, Edge, and Wrigley’s business units. Amongst these, Wrigley’s is managing multiple prominent brands, including:

  • Altoids
  • Bounty
  • Combos
  • Celebrations
  • Balisto
  • M&Ms
  • Snickers
  • Others

These brands commercially manufacture chocolate, chewing gum, mints, and fruity confections in diverse flavor profiles and effective packaging solutions.

ITC Limited

Establishment: 1910
Headquarters: Kolkata

ITC is India’s leading private sector manufacturing company that maintains its diversified prominence in fast-moving consumer goods (FMCG), hotels, packaging, paperboards & specialty papers, and agri-business. The company is broadly segregated into personal care, education, stationery, cigarettes, and varying food products. At present, the ITC food business is operating various brands, including:

  • Aashirwaad
  • Sunfeast
  • Yippee
  • Fabelle
  • Jelimals
  • Nimyte
  • AIM
  • Candyman
  • Minto
  • Other

It’s many more franchises under the multiple categories of staples, spices, chocolate, frozen foods, dairy, ready-to-eat (RTE), and coffee. Apart from this, ITC comprises manufacturing units that are Hazard Analysis and Critical Control Point (HACCP) to meet the quality standards of products.

Gujarat Cooperative Milk Marketing Federation Ltd.

Establishment: 1946
Headquarters: Gujarat

Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) is the largest dairy food products firm that comprises Amul as its flagship brand, which is an apex organization of 18 milk cooperatives present in Gujarat. Their product portfolio encompasses a broad category of buttermilk, milk powders, coffee, tea, malted foods, probiotic yogurt, chocolates, ice cream, sweetened condensed milk, and cheese, among others. Besides this, GCMMF comprises wafers, filled bars, wafer chocolates, and chocolates as major categories that are also commercially available in exotic milk, emotion packs, exclusive white chocolates, and single origin, premium, and classic dark chocolate product variants.

Hershey India Private Limited

Establishment: 1997
Headquarters: Maharashtra

Hershey India Private Limited, a subsidiary of The Hershey Company, is an industry-leading snack company. It manufactures rich, exotic, and quality chocolates, along with candy, syrups, spreads, cocoa powder, and sweet beverages. The company has more than 80 brands under its umbrella, including:

  • Hershey’s Kisses
  • Reese’s
  • Kit Kat
  • Jolly Rancher
  • Ice breaker
  • SkinnyPop


Global Consumer Products Private Limited

Establishment: 2013
Headquarters: Chennai

Global Consumer Products Private Limited is a leading fast-moving consumer goods (FMCG) company that produces chocolate, biscuits, cakes, and pastries under the division of manufacture of food products and beverages. Some of its product portfolios include fruit drinks, ved rassa, Luvit chocolate, cheerio, and DND liquid or coils. Their Luvit chocolate business unit consists of dairy-rich, loca, chocwich white, crazy pops, chocorich eclairs, and smackers. These products are further available in varying flavors and designed to uphold high standards of quality in the market.

Surya Food & Agro Ltd.

Establishment: 1992
Headquarters: Uttar Pradesh

Surya Food & Agro Ltd. is the umbrella brand of Priyagold that is primarily known for manufacturing and supplying biscuits across India. Their product segmentation currently includes biscuits, cookies, confectioneries, and beverages in diverse flavorings and packaging solutions. Amongst these, the confectionery category comprises choco gold, kicker, hunk, hunger, snacker,  choco, and valencia fruits and nuts chocolate as some common product variants. Recently, the company implemented corporate social responsibility (CSR) activities and policies to ensure sustainable development across the nation.

Lotus Chocolate Company Limited

Establishment: 1988
Headquarters: Telangana

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. 


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
  • Plant setup
  • Plant Expansion
  • Marketing and sales
  • Procurement and Distribution
  • Innovation and Product Development

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