With the intensity of competition set to rise over the forecast period, driven by the entry of multiple private label lines and D2C players, the brand switching of Indian consumers remains a possibility in chocolate confectionery, with a greater number of choices available. Major players often undertake many marketing initiatives to build brand strength and consumer loyalty.
The inflationary headwinds for chocolate confectionery have been quite high in 2023 with major ingredient, cocoa, experiencing the impact of elevated inflation in India. This has been due to high unexpected rainfall and rot causing disease, which damaged cocoa crops primarily grown in West African countries - such as Ivory Coast and Ghana - which are major exporters of cocoa beans.
The disposable income growth of consumers in India is expected to be one of the fastest in the world, with predictions for a 10% CAGR over the forecast period. With local consumers’ standard of living expected to improve significantly, they are likely to consider exploring premium chocolate confectionary.
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Understand the latest market trends and future growth opportunities for the Chocolate Confectionery industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Chocolate Confectionery industry in India, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Chocolate Confectionery
This is the aggregation of tablets, countlines, chocolate pouches and bags, boxed assortments, seasonal chocolate, chocolate with toys, and other chocolate confectionery. Nuts and fruits covered in chocolate are included in this category. Note that chocolate overtly positioned for baking/cooking purposes is excluded from Euromonitor International's confectionery coverage.
See All of Our DefinitionsThis report originates from Passport, our Chocolate Confectionery research and analysis database.
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