India Chocolate Market Forecast and Opportunities, 2020
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- Date Submitted: 10/20/2015 03:17 AM
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20 Oct 2015- Mumbai, India: Bharatbook.com announces a report on “India Chocolate Market Forecast and Opportunities, 2020”. Over the last few, apart from children, adult population has emerged as the key consumer segment for chocolate companies in the country.
India chocolate market has been broadly segmented into Industrial Chocolates, which are used in preparation of different confectionary food products such as bakery items, ice cream, etc.; and Consumer Chocolates (Dark, Milk and White), which are directly sold to the consumers. Over the last decade, chocolate market in India has been growing at a significant rate, on account of expanding middle class population and increasing use of chocolates in various confectionery products. Expansion of organized retail industry in India and rising disposable income levels of consumers have been further propelling growth in the country’s chocolate market. Manufacturers are luring consumers by expanding their product portfolios and increasing availability of chocolates in various price ranges.
According to “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. “India Chocolate Market Forecast & Opportunities, 2020” report...
India chocolate market has been broadly segmented into Industrial Chocolates, which are used in preparation of different confectionary food products such as bakery items, ice cream, etc.; and Consumer Chocolates (Dark, Milk and White), which are directly sold to the consumers. Over the last decade, chocolate market in India has been growing at a significant rate, on account of expanding middle class population and increasing use of chocolates in various confectionery products. Expansion of organized retail industry in India and rising disposable income levels of consumers have been further propelling growth in the country’s chocolate market. Manufacturers are luring consumers by expanding their product portfolios and increasing availability of chocolates in various price ranges.
According to “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. “India Chocolate Market Forecast & Opportunities, 2020” report...