India Chocolate market is expected to reach US$ 4.24 Bn., with a CAGR of 11.5% for the period 2021-2027, thanks to international chocolate producers are increasingly concentrating their efforts in rural India.
India Chocolate Market Overview:
The study covers the India Chocolate Market's most recent revenue and market trends. It stresses a market overview, definition, and structure, as well as preventative and pre-planned management. The report focuses on the factors that influence the India Chocolate Market, such as gross margin, cost, market share, capacity utilisation, and supply. It also aids in determining the future potential of India Chocolate Market in the next years. The report presents a market overview through common subjects that are highlighted with unique data based on the need. This overview aids in making decisions about how to approach the market and comprehending the industry's backdrop.
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Market Scope:
- Key Market Trends & Challenges:
The study analyses the primary adoption trend impacting the India Chocolate industry as well as issues that may stymie its expansion. Understanding these elements is critical for product planning and design, as well as commercial strategies. To assist you understand the India Chocolate market, this study provides a full analysis of these trends and obstacles.
- Market Statistics:
The report provides the market size and share of the India Chocolate market. It helps in understanding the market and the report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with advertising and industry decision-making processes in the India Chocolate market.
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Segmentation:
Key Players:
• Mondelez India Foods Private Limited
• Ferrero India Private Limited
• Nestle India Limited
• Mars International India Private Limited
• ITC Limited
• Gujarat Cooperative Milk Marketing Federation Ltd.
• Hershey India Private Limited
• Global Consumer Products Private Limited
• Surya Food & Agro Ltd.
• Lotus Chocolate Company Limited
• Others
The report examines the top players in the India Chocolate market in terms of their size, market share, market growth, revenue, production volume, and profitability. The research outlines which growth strategies are being used by key players, including strategic alliances, new product innovation, and so on. It tells you whether you're competing with only industry firms or with competitors who provide alternative solutions. The study helps you understand competitor pricing in the India Chocolate market so you can examine and build a pricing plan that works for your product. The competitive landscape is a significant feature of the India Chocolate industry that all key stakeholders in the industry should be aware of.
Regional Analysis:
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of India Chocolate market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.
COVID-19 Impact Analysis on India Chocolate Market:
The report has identified detailed impact of COVID-19 on India Chocolate market in regions such as North America, Asia Pacific, Middle-East, Europe, and South America. The report provides Comprehensive analysis on alternatives, difficult conditions, and difficult scenarios of India Chocolate market during this crisis. The report briefly elaborates the advantages as well as the difficulties in terms of finance and market growth attained during the COVID-19. In addition, report offers a set of concepts, which is expected to aid readers in deciding and planning a strategy for their business.
Key Questions answered in the India Chocolate Market Report are:
- Which product segment grabbed the largest share in the India Chocolate market?
- How is the competitive scenario of the India Chocolate market?
- Which are the key factors aiding the India Chocolate market growth?
- Which region holds the maximum share in the India Chocolate market?
- What will be the CAGR of the India Chocolate market during the forecast period?
- Which application segment emerged as the leading segment in the India Chocolate market?
- Which are the prominent players in the India Chocolate market?
- What key trends are likely to emerge in the India Chocolate market in the coming years?
- What will be the India Chocolate market size by 2027?
- Which company held the largest share in the India Chocolate market?
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The sale of the boxed assortment is growing at a faster pace, driven by increased in occasional gifting trend.
Moreover, the introduction of international brands, availability of a variety of flavors, and expanding online chocolate distribution are the key factors catalyzing the growth of the chocolate market in India.
Additionally, most of the chocolate consumption is from urban consumers, and the country is posing massive opportunities in the untapped rural segment.
Growing millennials preference for chocolates and the utilization of chocolates as gift, stimulate the market with significant growth during the forecast periodSeasonal chocolates are launched and sold by business and are being bought by customers to celebrate holidays or special occasions.
Companies like Lindt & Sprüngli are already famous for their limited edition seasonal chocolates.
Media exposure and smart marketing techniques have placed chocolates as an alternative to sweets.
According to IMARC Group’s latest report, titled “India Chocolate Market Share, Trends, Size, Demand, Growth, Opportunity and Forecast 2020-2025”, the India chocolate market reached a value of US$ 1,682 Million in 2019.
Looking forward, IMARC Group expects the global market to continue its moderate growth during the next five years.The changing consumer inclination towards newer chocolate variants infused with additional flavors is currently driving the product demand in India.
Moreover, the rising consumer awareness towards several health benefits associated with dark chocolate, further bolsters the Indian chocolate market growth.
Besides this, the emergence of the e-commerce sector in India has allowed chocolate manufacturers to efficiently conduct business-to-consumer operations, thereby expanding their consumer base.
Furthermore, the premiumization of chocolate-based products, along with the increasing penetration of innovative packaging, is further expected to boost the India chocolate market growth.Chocolate, extracted from the roasted cacao seeds, is primarily used in confectioneries and bakery products.
The surging demand for chocolates in the food and beverage industry is one of the major factors augmenting the India chocolate market growth.
