India Chocolate Market: Industry Outlook, Size (US$ 4.1 Billion), Share, Growth (CAGR of 8.8%), Top Companies Analysis and Research Report 2023-2028

According to IMARC Group's latest report, titled "India Chocolate Market: Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028", the India chocolate market size reached US$ 2.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028.

Year Considered to Estimate the Market Size:

• Base Year of the Analysis: 2022

• Historical Period: 2017-2022

• Forecast Period: 2023-2028

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India Chocolate Market Trends:

The increasing consumer expenditure power has significantly surged the demand for premium and handmade chocolates, which represents one of the primary factors boosting the India chocolate market growth. Besides this, the rising consumer awareness regarding the positive health attributes of consuming chocolate is further providing a considerable thrust to the market growth. Additionally, key market players are introducing new product variants with high-quality cocoa, exotic flavors, and organic ingredients, such as fruit and nut, caramel, salt-based, and sugar-free, to increase their consumer base, which is creating a positive outlook for the market. Moreover, the easy product availability in supermarkets, hypermarkets, and online retail stores, the rising social media influence, and the extensive product application in various desserts are accelerating the market growth.

Industry Definition and Application:

Chocolate is a sweet made from ground and roasted cocoa beans that are derived from the cacao tree. It is an excellent source of essential minerals, antioxidants, carbohydrates, and various alkaloids, such as flavonoids, phenethylamine, theobromine, and caffeine. These elements help lower blood pressure, increase blood circulation, and reduce the chance of clotting, thus minimizing the risks of Parkinson's and cardiovascular diseases (CVDs), stroke, and sudden death from heart ailments. The consumption of chocolate also promotes serotonin and exhibits anti-depressant properties. Milk, dark, and white chocolate are some of the commonly available product variants in the market. Currently, chocolate is witnessing a significant surge in demand for preparing various beverages, confectionaries, and bakery products.

India Chocolate Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the India chocolate market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of These Key Players Include:

• 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

Key Market Segmentation:

The report has segmented the India chocolate market based on type, product form, packaging type, distribution channel and region.

Breakup by Type:

• Milk Chocolate
• Dark Chocolate
• White Chocolate

Breakup by Product Form:

• Moulded
• Countline
• Others

Breakup by Packaging Type:

• Pouches and Bags
• Boxed Chocolate
• Others

Breakup by Distribution Channel:

• Retail Sales
• Institutional Sales

Breakup by Region:

• North India
• East India
• West and Central India
• South India

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=1185&flag=C

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.