Chocolate market is the biggest segment of the Indian confectionery industry by value. The chocolate market in India is a largely concentrated market and caters to various consumer segments with extremely fragmented in terms of products. The sales of chocolate have been increasing in the country over the years with a major chunk of sales in the urban areas. According to “Indian Confectionery Market Analysis”, the Indian chocolate market is expected to grow at a CAGR of around 21% during 2011-2015.
An increasing market value of chocolate industry is attributed to factors like changing demand of consumers compelling major manufacturers to foray into new variants like dark chocolate, etc. Manufacturers are also indulging in extensive promotional campaigns to penetrate into the unexplored markets. With the growing dynamism in chocolate market, many new trends have also evolved like opening up of new exclusive chocolate stores and increasing business of homemade chocolates. This has also given a new direction to the Indian chocolate market.
The report, “Indian Confectionery Market Analysis”, provides a comprehensive analysis of the confectionery market of India. It provides break up of confectionery market into chocolates, sugar confectionary, and gum market. Each of the segments is further divided into sub-segments. Further, the current and future forecasts for all the segments and sub-segments have been presented to provide the market progress in the coming years along with expected growth in the overall industry. Market drivers and challenges have also been provided for a holistic understanding of the industry. Major focus has been laid on the key competitor assessment to present a meaningful description of the confectionery business along with their detailed product portfolio and recent developments.