India Candy Market to Grow with a CAGR of 15.2% through 2029
India candy market is driven by changing consumer
preferences, availability of variety of products and effective marketing and
branding strategies.
According to TechSci Research report, “India Candy
Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029”, the India Candy Market stood at USD1845.2 million in
2023 and is anticipated to grow with a CAGR of 15.2% in the forecast period,
2025-2029. The India Candy Market is a confectionery wonderland that marries
tradition with innovation, creating a delectable symphony of flavors and
textures. Rooted in centuries-old cultural traditions of sweet indulgence, this
market has evolved to meet the diverse and ever-changing preferences of the
Indian consumer. From traditional 'mithai' to modern international candies, the
India Candy Market is a thriving and dynamic segment within the country's vast
food industry.
Candies have held a significant place in Indian
culture for millennia. Ancient texts and scriptures mention various sweet
preparations, reflecting the country's deep-rooted tradition of enjoying sweets
and confections. The exchange of sweets is a common practice during festivals,
celebrations, and social gatherings, symbolizing goodwill and camaraderie.
One of the most iconic and culturally significant
candies in India is 'mithai.' These traditional sweets come in an astonishing
array of flavors, shapes, and textures, showcasing the rich diversity of Indian
culinary heritage. Whether it's the syrupy 'jalebi' or the creamy 'rasgulla,'
'mithai' has been an integral part of Indian festivities and rituals.
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Candy Market”
While 'mithai' continues to be beloved and cherished,
the Indian candy landscape has witnessed a transformation over the years. The
globalization of food culture, changing consumer preferences, and the influence
of Western confectionery have given rise to a wide range of candies and
confectionery products that cater to modern tastes.
The introduction of chocolates, toffees, gummies, and
other international candies has brought diversity and novelty to the market.
Brands like Cadbury, Nestlé, and Mars have made their mark in India, offering a
wide selection of chocolates that appeal to both children and adults. The
emergence of organized retail chains and e-commerce platforms has made these
products readily accessible to consumers across the country.
The Indian candy market caters to a diverse and
dynamic consumer base. Children remain a significant segment of candy
consumers, and their preferences often influence purchasing decisions. Colorful
and playful candies like 'gems,' 'jelly beans,' and 'chocolate éclairs' are
perennial favorites among youngsters.
However, the market is not limited to children.
Adults, too, indulge in candies, often seeking a balance between traditional
'mithai' and modern confections. For adults, candies may serve as a nostalgic
treat or a quick energy boost during the day. The popularity of 'paan-flavored'
candies and 'saunf' (fennel seeds) candies reflects the incorporation of
traditional flavors into contemporary candy offerings.
Demographics also play a crucial role in shaping the
candy market. Rising disposable incomes, urbanization, and exposure to global
trends have led to increased spending on confectionery products. Urban areas,
in particular, have become hubs of candy consumption, with convenience stores,
supermarkets, and online platforms offering a wide selection of candies to
choose from.
While candies hold a special place in the hearts of
many Indians, there is a growing awareness of the need for healthier food
choices. This has led to a shift in consumer preferences toward candies with reduced
sugar content, natural ingredients, and functional benefits.
Brands have responded by introducing 'sugar-free'
candies, candies infused with vitamins and minerals, and candies made from
natural fruit extracts. These products appeal to health-conscious consumers who
seek to satisfy their sweet cravings without compromising on their dietary
goals.
The increasing awareness of health and wellness poses
a challenge to the candy market. Consumers are becoming more discerning about
the nutritional value of the products they consume. Brands need to balance the
demand for healthier options while preserving the essence of indulgence
associated with candies.
The candy market in India is highly competitive, with
a multitude of domestic and international brands vying for consumer attention.
Effective branding, marketing, and innovation are essential for brands to stand
out in this crowded space.
There is a need for consumer education regarding the
nutritional content and ingredients used in candies. Transparency in labeling
and clear communication of nutritional information are becoming increasingly
important for brands.
The packaging and disposal of candy wrappers and
containers contribute to environmental issues. Sustainable packaging solutions
and responsible disposal practices are areas where brands can make a positive
impact.
Despite the challenges, the India Candy Market offers
vast opportunities for growth. As disposable incomes continue to rise, and with
the penetration of organized retail and e-commerce, there is immense potential
for the market to expand and diversify its product offerings.
India candy market is segmented into type, sales channel,
and region.
Based on type, the market is segmented into chocolate,
sugar, gum. Among these, chocolate candy has a significant share in the India candy
market. Chocolate, with its rich and indulgent flavor, enjoys universal appeal.
It is a versatile ingredient that can be molded into various shapes and forms,
making it suitable for a wide range of candy products. From creamy milk
chocolates to dark chocolates with a hint of bitterness, the diversity of
chocolate offerings caters to different taste preferences.
Based on region, the market is segmented into East,
West, North, and South. Among these, the North region has a significant
share of the India candy market. The North region, like many other parts of
India, has a rich cultural tradition of sweet indulgence. Sweets and candies
hold a significant place in the region's customs and rituals, often serving as
symbols of celebration, goodwill, and hospitality. Festivals like Diwali, Holi,
and Raksha Bandhan see a surge in the consumption and exchange of sweets,
including candies.
Major companies operating in India candy market
are:
- ITC Limited
- Nestle India Limited
- Parle Products Private Limited
- Hershey India Private Limited
- Mondelez India Foods Private Limited
- DS Group Private Limited
- Mars International India Private
Limited
- Perfetti Van Melle India Private
Limited
- Lotte India CorporationLimited
- Ravalgaon Sugar Farm Limited
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“The future of
the India Candy Market is promising and poised for continued growth. The market
will likely see a harmonious coexistence of traditional 'mithai' and modern
confectionery, with a growing emphasis on healthier options and sustainable
practices. Brands that can strike the right balance between tradition and
innovation, address health concerns, and engage consumers through effective
marketing strategies are likely to thrive in this sweet and ever-evolving
landscape. As Indian consumers continue to indulge in the joy of candies, the
market will remain a delightful reflection of the nation's cultural diversity
and evolving tastes.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“India Candy Market By Type (Chocolate, Sugar, Gum),
By Sales Channel (Supermarkets/Hypermarkets, Convenience Stores, Online, and
Others), By Region, By Competition Forecast & Opportunities, 2019-2029F, has evaluated
the future growth potential of India candy market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers make
sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in India candy market.
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