India Industrial Chocolate Market - Growth, Trends, and Forecast (2019 - 2024)

The India Industrial Chocolate Market is segmented by Type (Cocoa Powder, Cocoa Liquor, Cocoa Butter, and Compound Chocolate), and Application (Bakery Products, Confectionery, Bakery Premixes, Beverages, Frozen Desserts and Ice Creams, and Other Applications).

Market Snapshot

snapshot
Study Period:

2016-2024

Base Year:

2018

CAGR% (2019-2024):

12.89%

Key Players:

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Market Overview

The Indian industrial chocolate market is estimated to register a CAGR of 12.89% during the forecast period (2019 - 2024).

  • Chocolate consumption volume is continuously rising in the country, with molded chocolate registering the largest sales volume.
  • The rising per capita income and westernization trend are the key drivers for the market.
  • Expanding retail channels and increasing impulse purchases are further driving the market.
  • Surging demand for premium varieties offers a potential opportunity for the foreign brands to tap the market. 

Scope of the Report

The study on the Indian industrial chocolate market covers cocoa powder, cocoa liquor, cocoa butter, and compound chocolate. By application, the market is segmented into bakery products, confectionery, bakery premixes, beverages, frozen desserts and ice creams, and other applications. Additionally, the bakery products segment is further segmented into cakes, biscuits, pastries, and other bakery products.

Product Type
Cocoa Powder
Cocoa Liquor
Cocoa Butter
Compound Chocolate
Application
Bakery Products
Cakes
Biscuits
Pastries
Other Bakery Products
Confectionery
Bakery Premixes
Beverages
Frozen Desserts and Ice Creams
Other Applications

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Key Market Trends

Premium Chocolates Gaining Popularity

There has been a rise in the demand for premium and dark chocolates, as a result of the increasing purchasing power of consumers and surging marketing and promotional activities. Molded chocolate dominates the Indian chocolate retail sales, followed by countlines. The sales of boxed assortments is rising at a faster pace, driven by the trend of occasional gifting. The price discounts offered by the supermarkets/hypermarkets and healthy eating habits are other factors contributing to the boost in sales. The competition is likely to build up the country’s cold chain structure, as more investments are expected to be drawn in favor of reshaping and introducing the refrigeration and distribution channels. The preference among consumers are slowly shifting toward dark chocolates, on account of various health benefits, which act as positive factors in surging the demand for premium chocolates in India.

trend1

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High Demand for Compound Chocolate

In the food industry, compound chocolate is used as a low-cost alternative to couverture chocolate. Moreover, as compared to real chocolates, compound chocolate does not require tempering, which is one of the major reasons for the consumers’ preference toward compound chocolate, over real chocolate. However, the absence of shiny appearance and lack of rich and creamy taste are among the main factors responsible for low preference for compound chocolates in the premium segment.

trend2

Competitive Landscape

The Indian industrial chocolate market is highly competitive, due to the presence of many local players. Major companies, like The Barry Callebaut Group, India Cocoa Pvt Ltd, and Amrut International, are focusing on R&D to expand their businesses in the market. 

Major Players

  1. The Barry Callebaut Group
  2. India Cocoa Pvt Ltd
  3. DP Cocoa Products Pvt Ltd
  4. Lotus Chocolate Co. Ltd
  5. Amrut International

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Cocoa Powder

      2. 5.1.2 Cocoa Liquor

      3. 5.1.3 Cocoa Butter

      4. 5.1.4 Compound Chocolate

    2. 5.2 Application

      1. 5.2.1 Bakery Products

        1. 5.2.1.1 Cakes

        2. 5.2.1.2 Biscuits

        3. 5.2.1.3 Pastries

        4. 5.2.1.4 Other Bakery Products

      2. 5.2.2 Confectionery

      3. 5.2.3 Bakery Premixes

      4. 5.2.4 Beverages

      5. 5.2.5 Frozen Desserts and Ice Creams

      6. 5.2.6 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 The Barry Callebaut Group

      2. 6.4.2 India Cocoa Pvt Ltd

      3. 6.4.3 DP Cocoa Products Pvt Ltd

      4. 6.4.4 Lotus Chocolate Co. Ltd

      5. 6.4.5 Amrut International

      6. 6.4.6 Jindal Cocoa

      7. 6.4.7 Aalst Wilmar Pte Ltd

      8. 6.4.8 The Campco Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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