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India Chocolate Market Size, Share, Growth, Analysis, Trends: By Type: Dark Chocolate, Milk Chocolate, White Chocolate; By Product Type: Pure Chocolate, Compound Chocolate; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online Stores, Others; Regional Analysis; Competitive Landscape; 2024-2032
India Chocolate Market Outlook
The India chocolate market size was valued at USD 1.80 billion in 2023. The market is further projected to grow at a CAGR of 5.2% between 2024 and 2032, reaching a value of USD 2.85 billion by 2032.
Key Takeaways
- As per industry reports, the market is witnessing a high demand for dark chocolates with low sugar content as consumers have become more aware of the link between sugar and health.
- The Indian chocolate market is also seeing a shift towards healthy chocolates, with premium chocolates being popular among health-conscious consumers who prefer to limit their confectionary consumption by treating themselves to bite-sized chocolates.
- The demand for sugar-free chocolates or chocolate infused with sweeteners such as stevia, monk fruit, and aspartame, among others, is also rising due to the increasing number of people with diabetes in India.
The demand for organic, vegan, and sugar-free chocolates is growing in India, driven by the increasing preference for healthier food options. For example, Pascati, an Indian chocolate brand, offers a range of organic and vegan chocolates made from ethically sourced ingredients. These chocolates cater to health-conscious consumers looking for guilt-free indulgence.
Chocolatiers in India are experimenting with innovative flavours and textures to transform the chocolate eating experience, which is leading to India chocolate market development. For instance, Mason & Co., an artisanal chocolate maker, offers unique flavours like Himalayan Pink Salt, Orange Peel, and Coconut Milk Chocolate.
Chocolates have become a popular snack among Indians, leading to multiple purchase cycles and an increase in consumption. Brands like Amul, Cadbury, and Nestlé have introduced smaller, snack-sized chocolate bars and pouches to cater to the growing trend of on-the-go snacking. This shift in preferences reflects the convenience and indulgence associated with chocolates as a snack option.
The market for premium chocolates is growing in India, as consumers are willing to pay a premium price for high-quality, exotic, and unique chocolate experiences. For example, Fabelle, the luxury chocolate brand by ITC, offers a range of premium chocolates with exquisite flavours like Ruby Gianduja, Single Origin Dark Chocolates, and Pralines.
Milk chocolate continue to dominate India chocolate market share, appealing to a wide range of consumers with its creamy and sweet flavour profile. The easy availability of milk chocolate in supermarkets, hypermarkets, and online retail stores, along with its extensive application in desserts, contributes to the sustained growth of the milk chocolate segment in India.
Market Segmentation
India Chocolate Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Dark Chocolate
- Milk Chocolate
- White Chocolate
Market Breakup by Product Type
- Pure Chocolate
- Compound Chocolate
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Market Breakup by Region
- North India
- East and Central India
- West India
- South India
Competitive Landscape
Market players are introducing novel product lines with premium cocoa, unique flavours, and organic components, including fruit and nuts, caramel, and dark chocolate, to expand their customer base.
- Mars, Incorporated
- Mondelez International, Inc.
- Ferrero International S.A
- Nestlé S.A.
- The Hershey Company
- Gujarat Co-operative Milk Marketing Federation Ltd.
- ITC Limited
- Surya Food & Agro Ltd.
- August Storck KG
- DS Group
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Chocolate Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Chocolate Historical Market (2018-2023)
8.3 Asia Pacific Chocolate Market Forecast (2024-2032)
8.4 Asia Pacific Chocolate Market Share by Country
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 Australia
8.4.6 Others
9 India Chocolate Market Overview
9.1 Key Industry Highlights
9.2 India Chocolate Historical Market (2018-2023)
9.3 India Chocolate Market Forecast (2024-2032)
10 India Chocolate Market by Type
10.1 Dark Chocolate
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Milk Chocolate
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 White Chocolate
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 India Chocolate Market by Product Type
11.1 Pure Chocolate
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Compound Chocolate
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 India Chocolate Market by Distribution Channel
12.1 Supermarkets and Hypermarkets
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Convenience Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Online Stores
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 India Chocolate Market by Region
13.1 North India
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 East and Central India
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 West India
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South India
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 1806)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Mars, Incorporated
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Mondelēz International, Inc.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Ferrero International S.A.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Nestlé S.A.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 The Hershey Company
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Gujarat Co-operative Milk Marketing Federation Ltd.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 ITC Limited
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Surya Food & Agro Ltd.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 August Storck KG
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 DS Group
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Chocolate Market: Key Industry Highlights, 2018 and 2032
2. India Chocolate Market: Key Industry Highlights, 2018 and 2032
3. India Chocolate Historical Market: Breakup by Type (USD Billion), 2018-2023
4. India Chocolate Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. India Chocolate Historical Market: Breakup by Product Type (USD Billion), 2018-2023
6. India Chocolate Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
7. India Chocolate Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. India Chocolate Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. India Chocolate Historical Market: Breakup by Region (USD Billion), 2018-2023
10. India Chocolate Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. Major Exporting Countries by Value
12. Major Importing Countries by Value
13. Major Exporting Countries by Volume
14. Major Importing Countries by Volume
15. India Chocolate Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1.80 billion.
The market is expected to grow at a CAGR of 5.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2.85 billion by 2032.
The market is being driven due to the emerging popularity of organic, vegan, and sugar- and gluten-free chocolates in various baked goods, confectioneries, and western desserts.
Key trends aiding the market expansion include growing popularity of nut-infused chocolates, a shift in consumer preferences away from traditional sweet indulgences and increasing consumer expectations of premium products.
Regions considered in the market are North India, East and Central India, West India, and South India.
Based on distribution channel, the market segmentations include supermarkets and hypermarkets, convenience stores, and online stores, among others.
Dark chocolate, milk chocolate, and white chocolate are considered in the repor
Key players in the market are Mars, Incorporated, Mondelez International, Inc., Ferrero International S.A, Nestlé S.A., The Hershey Company, Gujarat Co-operative Milk Marketing Federation Ltd., ITC Limited, Surya Food & Agro Ltd., August Storck KG, and DS Group, among others.
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