According
to TechSci Research report, “India Chocolate Market
By Type, By Category, By Distribution Channel, Competition Forecast
& Opportunities, 2013 – 2023”, India chocolate market is projected to
grow at a CAGR of more than 16% during 2018 - 2023. Anticipated growth in the
market can be attributed to rising youth population, changing taste preferences
of Indian consumers who have started substituting traditional Indian sweets
with chocolates and growing demand for premium chocolate products. Rapid
urbanization and rising household disposable income of middle-class population are
some of the other major factors expected to propel growth of chocolate market in
India during the forecast period.
Browse 44 market data Figures and Tables spread
through 88 Pages and an in-depth
TOC on
"India Chocolate Market"
Advent
of e-commerce industry has created new routes for manufacturers as well as importers
to reach their customers. Online sales channel is enabling companies to widen
their distribution reach and serve their customers even in the farthest of
regions across the country. Growing number of tech-savvy people coupled with busy
lifestyles, especially of urban population, is driving the purchase of chocolates
online. Nevertheless, independent grocery stores are expected to continue their
market dominance in the coming years. Mondelez India Foods Private Limited, Nestlé
India Limited, Ferrero India Private Limited, Mars International India Private
Limited and Gujarat Cooperative Milk Marketing Federation Ltd. are some of the
major companies operating in India chocolate market.
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“Rising
trend of using chocolates as a substitute to traditional sweets due to growing
incidences of adulteration in sweets coupled with rising availability of a wide
range of chocolate variants such as diet chocolate, sugar-free chocolate,
cholesterol-free chocolate, herbal chocolate and chocolate with low-fat content,
is driving India chocolate market. A considerable demand for chocolate gift
boxes and premium dark chocolates is being witnessed in India, particularly
from high income groups. Growing presence of these type of chocolates across supermarkets,
hypermarkets and online portals would continue to boost market growth in the
ensuing years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India
Chocolate
Market By Type, By Category, By Distribution Channel, Competition
Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of chocolate
market in India and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in India chocolate market.
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