India chocolate market is witnessing the trend of premiumization as a result of increasing disposable income. The country’s chocolate market recorded significant demand for premium, dark, and sugar-free chocolates. With the stimulus western culture Indian consumers are changing their taste preferences towards chocolates rather than sweets. Moreover, adulteration issues in traditional sweets, improving distribution network, attractive packaging as well as online availability of chocolates are further complementing the growth of chocolates in India.
According to 6Wresearch, India Chocolate Market is projected to grow at a CAGR of 19% during 2017-23. Although, milk chocolate segment captured majority of the chocolate market share in 2016, dark chocolates segment is expected to post high growth rate during the forecast period. Moreover, non-premium chocolates dominated the overall market owing to its availability in both urban and rural areas. However, huge demand for premium chocolates are being exhibited in Tier-I cities resulting in tremendous growth for premium chocolate segment in the country.
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Key Highlights of the Report:
Chocolate Market In India
Chocolate Market Share In India
Chocolate Market Size In India
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