Parle Enters in the Luxury Chocolate Segment by Launching Friberg Brand

Confectionery and Biscuit manufacturer Parle products is launching luxury chocolates in India.

India: Parle, the confectionery and biscuits manufacturer is launching luxury chocolate by the name of Friberg in India. The company would be importing the chocolate from Belgium and Switzerland. With the increasing demand for luxury chocolate in the country and changing consumer consumption patterns, the company is introducing this product to capture the market during the festive season especially. Consumers have started to gift luxury chocolates during Diwali, shifting from the traditional sweets. The company has also launched Belgian wafer thins which are a first of its kind for the Indian market.

According to TechSci Research, launching the chocolates during festive season would give immense visibility to the brand. The company has launched the chocolates in bar format and comes in three different Swiss chocolate flavours which include Lait Suisse Chocolate, Noir Suisse Chocolate and Lait Caramel Chocolate. Priced at USD5 for 125 gms in the wafer format and 90 gms in the bar format, Friberg has been launched in Mumbai, Delhi, Bengaluru, Ahmedabad, Chennai and Hyderabad in select stores.

According to a report published by TechSci Research, “India Chocolate Market Forecast & Opportunities, 2020”, chocolate market in India is projected to surpass US$ 17 billion by 2020. In 2014, Consumer chocolates segment dominated the Indian chocolate market, and this trend is expected to continue over the course of next five years. Product innovations, strong marketing strategies and increase in variety of products are driving consumer chocolate sales in India. Over the last few, apart from children, adult population has emerged as the key consumer segment for chocolate companies in the country. Consequently, manufacturers have been launching new and innovative chocolate products such as sugar-free and organic chocolates to lure adult consumers. In terms of regional sales, Northern India accounted for the largest share in 2014, followed by the Southern, Western and Eastern regions of the country.