India chocolate market stood at $ 1.3
billion in 2017 and is projected to grow at a CAGR of over 16% to reach $ 3.3
billion by 2023, on account of increasing young population base, growing
urbanization and rising trend of gifting chocolates. Moreover, increasing disposable income of middle-class
population, changing taste preferences of Indian consumers, growing awareness
about health benefits of chocolate, and innovative marketing & promotional
strategies by manufacturers are expected to boost sales of chocolates in India
during forecast period. Some of the other factors that would drive the market
are growing online sales of chocolates, increasing demand for premium
chocolates, and rising popularity of organic and sugar-free chocolates.
Years
considered for this report:
Historical Years:
2013-2016
Base Year: 2017
Estimated Year: 2018
Forecast Period:
2019-2023
Objective of the Study:
- To
analyze and forecast India chocolate market size.
- To
define, classify and forecast India chocolate market based on type,
category, distribution channel, region and company.
- To
analyze and forecast India chocolate market size with respect to type: milk
chocolate, dark chocolate and white chocolate.
- To
analyze and forecast India chocolate market size with respect to category:
pouches & bags, boxed, countlines, tablets and others.
- To
scrutinize the detailed market segmentation and forecast the market size based
on four regions, namely – North India, West India, South India and East
India.
- To
identify tailwinds and headwinds for India chocolate market.
- To
examine competitive developments such as expansions, innovative product
launches, government policy and investments and new entrants in India chocolate
market.
- To
strategically profile leading players operating in India chocolate market.
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Some of the major
players operating in India chocolate market are Mondelez India Foods Private Limited, Ferrero India Private Limited, Nestlé
India Limited, Mars International India Private Limited, Gujarat Cooperative
Milk Marketing Federation Ltd., Hershey India Private Limited, Lotus Chocolate
Company Limited, Global Consumer Products Private Limited, Surya Food &
Agro Ltd., and ITC Limited, among others.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of leading chocolate companies across India. Subsequently,
TechSci Research conducted primary research surveys with the identified
companies. While interviewing, the company personnel were also enquired about
their key products, prices of products and competitors. Through this technique,
TechSci Research was able to include the manufacturers which could not be
identified due to the limitations of secondary research. TechSci Research
analyzed the type, category, distribution channel and regional presence of all
major chocolate companies across the country.
TechSci Research calculated India chocolate market size
using a top-down approach, where manufacturers’ value sales data for different
product types of chocolate (milk chocolate, dark chocolate and white chocolate)
was recorded as well as forecast for the future years. TechSci Research sourced
these values from industry experts and company representatives, and externally
validated through analyzing historical sales data of respective manufacturers
and suppliers to arrive at the overall market size. Various secondary sources
such as company annual reports, white papers, investor presentations, financial
reports, Ministry of Commerce and Industry, Ministry of Statistics &
Programme Implementation (MoSPI), Central Intelligence Agency, World Bank,
etc., were also studied by TechSci Research.
Key Target Audience:
- Chocolate
manufacturers, importers, suppliers and other stakeholders
- Trade
Associations, organizations, forums and alliances related to chocolate
industry
- Government
bodies such as regulating authorities and policy makers
- Market
research and consulting companies
The study is useful in providing
answers to several critical questions that are important for industry
stakeholders such as chocolate
manufacturers, distributors and dealers, customers and policy makers. The report would aid the stakeholders in identifying
which market segments should be targeted over the coming years in order to
strategize investments and capitalize on growth of the market.
Report Scope:
In this report, India
chocolate market has been segmented into the following categories in addition
to the industry trends which have also been detailed below:
- Market, by Type:
- Milk Chocolate
- Dark Chocolate
- White Chocolate
- Market, by Category:
- Chocolates Pouches & Bags
- Boxed Chocolates
- Countlines
- Tablets
- Others
- Market, by Distributional Channel:
- Retail sales
- Institutional sales
- Market, by Region:
Competitive
Landscape
Company Profiles: Detailed
analysis of the major companies operating in India chocolate market.
Voice of Customer: Customer analysis by
considering parameters like Brand Recall, Consumption Frequency, Place of Purchase and Factors Influencing Purchase
Decision.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Channel Partner
Analysis
- Detailed list of distributors and dealers
across all major regions.
Company
Information
- Detailed analysis and profiling of additional
market players (up to five).
In
case you don’t find what you are looking for, please get in touch with our
custom research team at sales@techsciresearch.com