Indian confectionary industry, one of the largest and well developed among the food-processing sector in the country, is growing at a fast pace over the past few years. Backed by factors such as increasing population, rising income levels, changing lifestyle of consumers and increasing consumer spending, the confectionery market is speeding up its growth. Increasing consumerism and growth of organized retailing are among the other factors supporting this market. According to the latest report "Indian Confectionery Market Analysis" by RNCOS, the confectionery market of India is anticipated to post over 18% of CAGR during 2012-2015.
The industry players are heavily launching new varieties of confectionery products at competitive prices. People’s urge to experiment with new products is supporting this move, making space in the market for a newly launch product. Companies are also aggressively promoting these products, making people aware of it. Besides, untapped rural market is the biggest potential market for confectionery products. As per capita consumption of confectionery products is very low in rural areas, companies have started penetrating this market, launching low-priced confectionery items and promoting them accordingly. These factors are also fueling growth in the Indian confectionery market.
The report provides an in-depth research and rational analysis of the current status and expected position of the Indian confectionery market in the coming years. It facilitates forecasts on overall confectionery industry size and its segments for 2012-2015. The research evaluates and analyzes the drivers of confectionery market and challenges that hinder growth of the industry. Key industry players, their product portfolio and recent developments have also been included in the study to present a balanced outlook of the Indian confectionery market to clients.
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