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on June 20, 2022
India Chocolate Market Overview
India Chocolate Market has seen the latest developments which include the introduction of chocolates with Indian ingredients like cinnamon, jasmine, chili and cardamom, and dark chocolate. The premium, as well as dark chocolate products, have become quite famous as people pay more attention to health and sugar reduction. Chocolate manufacturers have also started working on organic, vegan, sugar-free, and gluten-free chocolates. Ingredients such as dried fruits, blueberries, and cranberries have also been tried as additional ingredients in dark chocolate bars. Consumers have started moving towards smaller packs, and bite-sized portions are gaining popularity in India which hints at increasing health-consciousness among Indian consumers trying to control portion size.
India chocolate market is expected to witness exponential growth over the coming years due to growing awareness among people regarding health concerns and changing tastes and preferences of consumers due to an increase in adulteration of Indian sweets. Moreover, buying chocolates is a result of the impulsive behavior of consumers to celebrate small moments of joy and happiness, thereby not impacting the chocolate market even during an economic slowdown or recession.
According to 6Wresearch, the India Chocolate Market size is projected to grow at a CAGR of 12.3% during 2019–2025. 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, more than 70% of chocolate consumption is from urban consumers and the country is posing huge opportunities in the untapped rural segments. Additionally, improving the rural distribution network in the country is expected to attract global companies to invest India chocolate market. With relatively mature European and American markets, the global chocolate market players are eyeing on Indian marketplace for expanding their presence and India chocolate market share. The Chocolate Market in India is expected to flourish as a result of an increase in the escalating sales patterns observed by top chocolate brands in India.
Key Highlights of The Reports:-
- India Chocolate Market Overview
- India Chocolate Market Outlook
- India Chocolate Market Forecast
- Market Drivers and Restraints
- India Chocolate Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis and Market Opportunity Assessment
- India Chocolate Market Share, By Players
- India Chocolate Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
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