India Chocolate Market Is Projected to Grow at a CAGR of over 19% During 2017-23
Market Reports on India Provides the Trending Market Research Report on “India Chocolate Market”under Food & Beverages category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
Summary
India Chocolate Market is witnessing the trend of premiumization as a result of increasing disposable income. The country’s chocolate market recorded significant demand for premium, dark, and sugar-free chocolates. With the stimulus western culture Indian consumers are changing their taste preferences towards chocolates rather than sweets. Moreover, adulteration issues in traditional sweets, improving distribution network, attractive packaging as well as online availability of chocolates are further complementing the growth of chocolates in India.
India chocolate market is projected to grow at a CAGR of over 19%during 2017-23. Milk chocolate segment captured majority of the market share in 2016, however, dark chocolate segment is likely to exhibit highest growth during the forecast period, owing to health benefits associated with it. Further, with growing trend of offering chocolates as gift, premium chocolates is expected to witness huge acceptance over the coming years.
Moreover, introduction of international brands, availability of a variety of flavors and expanding online chocolate distribution are the key factors catalyzing the growth of chocolate market in India. Additionally, more than 70% of chocolate consumption is from urban consumers and the country is posing huge opportunity in untapped rural segment. With relatively mature European and American markets, the global chocolate market players are eyeing on Indian marketplace.
The report thoroughly covers chocolate market by material, category, products, types, packaging, distribution channels, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers which would help the stakeholders to decide and align their market strategies according to the current and future market dynamics.
Markets Covered:
The report provides detailed analysis of the following market segments:-
- By Product Types
- Milk Chocolates
- White Chocolates
- Dark Chocolates
- By Categories
- Premium Chocolates
- Non-Premium Chocolates
- By Product Shapes
- Bar Chocolates
- Assorted Chocolates
- By Chocolate Types
- Molded or Bar Chocolates Anode
- Count lines & Straight-lines
- Choco-panned & Sugar-panned
- Others (Novelties, Boxed Chocolates etc.)
- By Packaging
- Flexible Packaging
- Rigid Packaging
- Paper and Board Packaging
- By Distribution Channels
- Grocery & Mom n Pop Stores
- Hypermarkets & Supermarkets
- Convenience Stores
- Specialist Retailers
- Others (E-commerce, Drug Stores)
- By Regions
- Eastern
- Western
- Northern
- Southern
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