India Chocolate Market, By Product Type, By Category, By Distribution Channel, By Region, By Top 3 Leading States, Competition Forecast & Opportunities, 2018-2028

India Chocolate Market Was Valued at USD 1687.23 Million in 2022 and is Expected to Further Register Growth at 6.69% CAGR During the Forecast Years

India chocolate market was valued at USD1687.23 million in 2022 and is expected to further register growth at 6.69% CAGR during the forecast years to reach market value of USD2457.48 million by 2028F. The market growth can be attributed to the growing adoption of gifting chocolates as event celebrations in the country. The surge in demand for milk chocolates for kids and dark chocolates by the adult population and health-conscious consumers will also drive the growth of the India chocolate market in the upcoming five years. Availability of the chocolates in designer packaging, variant shapes, and other innovative product launches influence the consumers' purchase behavior that enunciates the growth of the India chocolate market in the next five years. The increasing population of the country and rising disposable income also facilitate the growth of the India chocolate market in the future five years. Easier access to the FMCG products through online delivery services that instantly deliver products like chocolates at the counsumers' doorstep also adds value to the growth of the India chocolate market in the forecast years through 2028F.

The India chocolate market is segmented by product type, category, distribution channel, regional distribution, competitive analysis. Based on product type, the market is further segmented into milk chocolate, dark chocolate, and white chocolate. Milk chocolates are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground of their increasing demand by children population. Milk chocolates are highly in demand due to traditional chocolate product demand along with multiple market players in the industry dealing with the product, thereby supporting the growth of the India chocolate market in the next five years. By category, the market is fragmented into tablets, countlines, chocolate pouches & bags, boxed chocolates and others. Based on distribution channel, the market is divided nto independent grocery stores, departmental stores, convenience stores/forecourt retailers, online, and supermarkets/hypermarket.

Mondelez India Foods Private Limited, Ferrero India Private Limited, Mars International India Private Limited, Nestle India Limited, Hershey India Private Limited, Gujarat Cooperative Milk Marketing Federation Ltd, Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd., ITC Limited, Chocoladefabriken Lindt & Sprüngli AG, Ghirardelli Chocolate Company are some of the leading market players in the India chocolate market.

Years considered for this report:

• Historical Years: 2018- 2021
• Base Year: 2022
• Estimated Year: 2023E
• Forecast Period: 2024F- 2028F

Objective of the Study:

• To analyze the market size of India chocolate market from 2018 to 2022.
• To estimate and forecast the market size of India chocolate market from 2023E to 2028F and growth rate until 2028F.
• To classify and forecast India chocolate market based on product type, category, distribution channel, regional distribution, competitive analysis.
• To identify dominant region or segment in the India chocolate market.
• To identify drivers and challenges for India chocolate market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India chocolate market.
• To identify and analyze the profile of leading players operating in India chocolate market.
• To identify key sustainable strategies adopted by market players in India chocolate market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the country. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the companies, which could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels and presence of all major players across India.

The publisher calculated the market size of India chocolate market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to chocolates
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India Chocolate Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India Chocolate Market, By Product Type:

• Milk
• Dark
• White

India Chocolate Market, By Category:

• Tablets
• Countline
• Chocolate Pouches and Bags
• Boxed Chocolates
• Others

India Chocolate Market, By Distribution Channel:

• Independent Grocery Stores
• Departmental Stores
• Convenience Stores/Forecourt Retailers
• Supermarkets/Hypermarkets
• Online
• Others

India Chocolate Market, By Region:

• West
• North
• South
• East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Chocolate market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.