The global demand for chocolate is now showing recovery and leading suppliers such as Barry Callebaut are now forecasting stabilization of demand in the key markets worldwide. In 2020, the United States is expected to be the largest consumer of chocolate globally, followed by Russia. Amongst the BRIC nations, while India and China are nations projected to have the highest chocolate market growth in the period 2015-2020, economic conditions in Brazil and Russia have been hampering the chocolate market’s growth.
It is expected that the global chocolate market will grow at a CAGR of approximately to 5% through 2020. New flavors coupled with product packaging innovations will be the trend going forward. World over there is growth potential in the customized and luxury chocolate segments. People have a rising affinity for handcrafted chocolate and many startups are dappling in the art of chocolate making. Popularity of premium chocolates is on the rise particularly in the United States and brazil. While rising obesity and health concerns world wide is a challenge for the growth of the sector, there is also growing awareness about the benefits of dark chocolate. Players have also been introducing low sugar and sugarless chocolates.
Globally, India is amongst the fastest growing chocolate markets. In 2016, the chocolate market in the country grew by 13% year-on-year. Other than India, Poland’s market which grew at 2% year-on-year are the only two countries globally have shown growth in the chocolate market. India is amongst the four countries projected to have the highest chocolate market growth in the period 2015-2020. Other countries include Mexico, China and Brazil. The chocolate market in India is currently growing at a rate of 20% annually and is projected to grow by 30% by 2020.
Close to 70% of the chocolate is consumed in urban India. Factors such as poor infrastructure, lack of cold storage facilities and greater affinity for traditional Indian sweets inhibit the growth of the rural chocolate market. In recent times chocolate consumption in the smaller towns and villages of the country has been increasing and smaller packets typically priced at INR 5 and 10 see higher consumption in these areas. Emerging trends in the sector include a growing affinity for dark and sugarless chocolate, along with growing demand for premium chocolates.
Why should the report be purchased?
The report "Assessment of India’s Chocolate Market 2017" highlights key dynamics ofthe global, India and China’s chocolate market. The potential of the sector has been investigated along with the emerging trends.The current market scenario and future prospects of the sector has also been studied. The report contains profiles of key players including Nestle S.A., Mars Foods, Ferrero Rocher, The Hershey Company, Mondelez International Inc., Amul. The report contains latest opinions of industry experts.
Research methodology and delivery time
The author has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available in soft as well as hard copy format. The delivery time for the electronic version of the report is 3 business days. The dispatch time for hard copies is 4 business days, as each hard copy is custom printed for the client.
1. Global Chocolate Market
1.2 Market Statistics & Performance
2. India Chocolate Market
2.2 Market Statistics & Performance
2.3 Market Drivers
2.4 Emerging Trends
2.6 Industry Outlook
2.7 Industry Speak
3. Competitive Landscape
3.1 Nestle S.A.
3.2 Mars Foods
3.3 Ferrero Rocher
3.4 The Hershey Company
3.5 Mondelez International Inc.
4. List of Charts and Graphs
5. Research Methodology
List of Charts and Graphs
1. Global Forecast Leading Chocolate Consuming Countries (2020, thousand tons)
2. Global Total Chocolate Consumption (1999, 2009 & 2020 P, million tonnes)
3. Global Top Eight Confectionery Companies Net Confectionary Sales (2015, USD millions)
4. Global Per capita consumption of Chocolate Confectionery by Key Markets (2015, kilograms)
5. India Chocolate Market Size (2012-2019 E, INR billion)
6. India Retail Sales of Chocolate (2010-2015, billion USD)
7. India Chocolate Market Share by Player (%, 2014)
8. India Chocolate Consumption Volume as Compared with Other Countries (2020, in 1,000 tons)