New York, NY -- (SBWire) -- 10/31/2017 --Chocolate is a typically sweet, usually brown, food preparation of cocoa beans, roasted and ground, often flavored, as with vanilla. It is made in the form of a liquid, paste or in a block or used as a flavoring ingredient in other sweet foods. Chocolate has become one of the most popular food types and flavors in the world, and a vast number of foodstuffs involving chocolate have been created. India's chocolate market has a positive outlook due to exceptional growth in the confectionery industry, rising per capita income and gifting culture in the country. The per capita consumption of chocolates has almost doubled from 2005 to 2012. Over the years, changes in consumers' preferences and lifestyle, eating habits, and their global exposure to international brands have given a boost to the chocolate industry.
According to "India Chocolate Market Outlook, 2021", chocolate market in India is expected to grow at a CAGR of approximately 15% till 2021. Milk chocolate accounts for majority of the revenues in the industry; however its share is likely to be reduced in the forecast period due to growing popularity of dark chocolate. Share of premium chocolate in the overall chocolate industry is anticipated to increase upto 27-30% by 2021, as the purchasing power and the disposable income of people rises. The report reveals that Cadbury, Nestle and Ferrero are the three leading players in India chocolate market. Cadbury and Nestle together account for majority of the chocolate market revenues whereas Ferrero is expected to overtake Nestle in the next two years, with increasing popularity of Ferrero Rocher and Kinder Joy.
The entry into the chocolate market requires a large capital investment for branding and production facilities. Also, facing the major international players with established history and success is difficult. The key challenges that the chocolate market is facing in India are inflationary pressures on raw material prices, lack of government initiative, high entry barriers due to duopolistic market and price-sensitive consumer. Rising sugar and cocoa prices are putting pressure on companies to innovate with ingredients and packaging to offer better prices for the mass market.
"India Chocolate Market Outlook, 2021" discusses the following aspects of chocolate in India:
The report gives an in-depth understanding of chocolate market in India:
- Global Chocolate Market Outlook
- Global Chocolate Market Size & Forecast
- Global Premium Chocolate Market Size & Forecast
- Global Chocolate Market Segmental Analysis: By Company, By Region, By Segment, By Developed Countries Consumption, By Developing Countries Consumption
- India Chocolate Market Outlook
- India Chocolate Market Size & Forecast
- India Premium Chocolate Market Size & Forecast
- India Chocolate Market Segmental Analysis: By Company, By Area, By Region, By Segment, By Chocolate Brands, By Age Distribution
- Pricing Analysis
- The key vendors in this market space
- Competitive Landscape & Strategic Recommendations
This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Report Methodology
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of chocolate in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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Executive Summary
2. Global Chocolate Market Outlook
2.1. Market Size – By Value
2.1.1. Chocolate Market
2.1.2. Premium Chocolate Market
2.2. Market Share
2.2.1. By Company
2.2.2. By Region
2.2.3. By Segment
2.2.4. By Developed Countries Consumption
2.2.5. By Developing Countries Consumption
2.3. Pricing Analysis
3. India Chocolate Market Outlook
3.1. Market Size - By Value
3.1.1. Chocolate Market
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India Chocolate Market: Industry Size, Growth, Analysis and Forecast
India Chocolate Market Outlook, 2021