Market Trends of india chocolate Industry
The growing popularity of nut-infused chocolates is supported by strong spending on advertising
- The Indian market for chocolates is experiencing a surge in demand and consumption due to a variety of factors, including a shift in consumer preferences away from traditional sweet indulgences, increasing disposable income, increasing consumer expectations of premium products, and a heightened awareness of health concerns.
- To expand their customer base, key market players are introducing novel product lines with premium cocoa, unique flavors, and organic components, including fruit and nuts, caramel, and salt-based and sugar-free options, thus providing a promising outlook for the market.
- The retail sales value of an average chocolate bar ranges between USD 1 to USD 10. For making chocolates, cocoa beans are the main ingredients, and their price can vary depending on a number of factors such as weather, the harvest, and demand in India.
- The increasing awareness of consumer health has resulted in an increase in the demand for chocolate products with enhanced health benefits. As of 2022, a majority of Indians (44%) were willing to invest in higher-quality chocolates due to their associated health benefits.
