The confectionery industry of India, which was ranked 25th in the world in 2009 , has now emerged as one of the largest and well-developed food processing sectors of the country. The credit goes to liberalization along with growing Indian economy, which have led several multinational companies to invest in India’s confectionery market, further changing the face of this industry.
According to our new research report “Indian Confectionery Market Analysis”, the Indian confectionery market is going through rapid changes in terms of trends and consumer behaviour pattern. The industry is being benefitted from the country’s economic boom, and growth in consumer spending. This higher consumer spending is also driven by the new found mall culture and changing lifestyle.
Besides, the entry of various multinational companies in the Indian confectionery market has not only increased the competition but also the per-capita consumption, by launching new products at affordable prices, and creating awareness among the buyers through advertisements and promotional campaigns. During the research, we found that emerging trend of gifting confectionery products and untapped rural market are among the key factors that are expected to fuel growth in Indian confectionery market in the near future. Backed by these factors, the Indian confectionery market is expected to grow at a CAGR of more than 18% during 2012-2015.
The confectionery market of India is divided into three segments: chocolate, sugar confectionery and gum market, which is further divided into sub-segments. Our team of domain experts studied the confectionery market overall, segment wise and sub-segment wise, and provided market forecast (in terms of volume and value both) till 2015. Among all the sub-segments of Indian confectionery market, chewing gum market is expected to grow at the fastest rate, by value, in the coming years.
It has been observed that various domestic and multinational companies are gearing up for gaining profit from the growing confectionery industry of India. Our report provides market share of the major companies in chocolate and gum market, and competitive landscape of the Indian confectionery industry, which includes business overview, product portfolio and recent company activities.
The report, which has been designed to understand the Indian confectionery market comprehensively, also analyzed the major industry drivers, along with the challenges hindering the growth of this industry. This way, the report provides inclusive and in-depth analysis of Indian confectionery market which will prove decisive for the clients, and help them take sound investment decisions.