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India Industrial Chocolate Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4703886
  • Report
  • Region: India
  • 80 pages
  • Mordor Intelligence
until Mar 31st 2020
1 of 4


  • Aalst Wilmar Pte Ltd.
  • Amrut International
  • India Cocoa Pvt Ltd
  • Jindal Cocoa
  • Lotus Chocolate Co. Ltd.
  • The Barry Callebaut Group
  • MORE
Market Overview

The Indian industrial chocolate market is forecasted to grow at a CAGR of 12.89% during the forecast period of (2019-2024).
  • Chocolate consumption volume in the region is continuously rising, with moulded chocolate registered the largest volume sale.
  • Rising per capita income and westernization tend is the key driver for the market.
  • Expanding retail channels and impulse purchases are further driving the market.
  • Growing demand for premium varieties gives a potential opportunity for foreign brands to tap the market.
Scope of the Report

The scope of the market study of Indian industrial chocolate is available for cocoa powder, cocoa liquor, cocoa butter and compound chocolate. By application, the market is segmented as bakery products, confectionery, bakery premixes, beverages, frozen desserts & ice cream and other applications. Whereas, bakery product is further segmented as, cakes, biscuits, pastries and other bakery products.

Key Market Trends

Premium Chocolates Gaining Popularity

Rising demand for premium and dark chocolate as a result of growing affluent middle-class purchasing power coupled with marketing and promotional activities triggered the chocolate demand. Moulded chocolate dominates the Indian chocolate retail sale followed by countlines. The sale of the boxed assortment is growing at a faster pace driven by an increased in occasional gifting trend. Heavy price and discount offered at supermarkets/hypermarkets and healthy eating habits are another factor boosted sales. The competition is likely to build up the country’s cold chain structure, as more investments are expected to be drawn in favor of reshaping and introducing refrigeration and distribution channels. The preference among consumers are slowly evolving toward darker chocolates, on account of various health benefits, which act as positive factors in surging the demand for premium chocolates in India.

High Demand For Compound Chocolate

The vegetable fats commonly used in India are often hard fats or fats semi-solids at room temperature, such as coconut oil and palm kernel oil. Compound chocolate is attractively priced, which makes it an ideal choice for home hobbyists and food manufacturers in various segments, such as bakery, confectionery, ice creams, and frozen desserts. It is used as a low-cost alternative to couverture chocolate, in the food industry. Moreover, as compared to real chocolates, compound chocolate does not require tempering, which is one of the major reasons why consumers prefer compound chocolate, over real chocolate. However, one of the main factors responsible for less preference for compound chocolates in the premium segment, is the absence of glittery look, or rich and creamy taste.

Competitive Landscape

Indian industrial chocolate market is highly competitive, with many local players in the market. Major companies like The Barry Callebaut Group, India Cocoa Pvt Ltd and Amrut International are focussing on research and developments, as a strategy to grow their business.
Note: Product cover images may vary from those shown
2 of 4


  • Aalst Wilmar Pte Ltd.
  • Amrut International
  • India Cocoa Pvt Ltd
  • Jindal Cocoa
  • Lotus Chocolate Co. Ltd.
  • The Barry Callebaut Group
  • MORE
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study


3.1 Market Overview

4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5.1 By Product Type
5.1.1 Cocoa Powder
5.1.2 Cocoa Liquor
5.1.3 Cocoa Butter
5.1.4 Compound Chocolate
5.2 By Application
5.2.1 Bakery Products Cakes Biscuits Pastries Other Bakery Products
5.2.2 Confectionery
5.2.3 Bakery Premixes
5.2.4 Beverages
5.2.5 Frozen Dessert and Ice Cream
5.2.6 Other Applications

6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 The Barry Callebaut Group
6.4.2 India Cocoa Pvt Ltd
6.4.3 DP Cocoa Products Pvt. Ltd.
6.4.4 Lotus Chocolate Co. Ltd.
6.4.5 Amrut International
6.4.6 Jindal Cocoa
6.4.7 Aalst Wilmar Pte Ltd.
6.4.8 The Campco Ltd.

Note: Product cover images may vary from those shown
3 of 4


4 of 4
  • The Barry Callebaut Group
  • India Cocoa Pvt Ltd
  • DP Cocoa Products Pvt. Ltd.
  • Lotus Chocolate Co. Ltd.
  • Amrut International
  • Jindal Cocoa
  • Aalst Wilmar Pte Ltd.
  • The Campco Ltd.
Note: Product cover images may vary from those shown