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India Chocolate Market Size

The India chocolate market is experiencing significant growth, with its market size expanding steadily over the forecast period. Convenience stores are the most popular distribution channels due to their accessibility and affordability, while supermarkets and hypermarkets also play a crucial role, particularly in urban areas. The market is further bolstered by the rapid expansion of online sales channels, driven by increasing internet penetration and consumer preference for convenience. This growth trajectory highlights the dynamic nature of the chocolate market in India, reflecting changing consumer behaviors and preferences.

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Market Size of india chocolate Industry

India Chocolate Market Summary
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svg icon Study Period 2018 - 2030
svg icon Market Size (2024) USD 2.31 Billion
svg icon Market Size (2030) USD 3.58 Billion
svg icon Largest Share by Distribution Channel Convenience Store
svg icon CAGR (2024 - 2030) 7.58 %
svg icon Fastest Growing by Distribution Channel Online Retail Store
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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India Chocolate Market Analysis

The India Chocolate Market size is estimated at 2.31 billion USD in 2024, and is expected to reach 3.58 billion USD by 2030, growing at a CAGR of 7.58% during the forecast period (2024-2030).

2.31 Billion

Market Size in 2024 (USD)

3.58 Billion

Market Size in 2030 (USD)

7.57 %

CAGR (2018-2023)

7.58 %

CAGR (2024-2030)

Largest Segment by Confectionery Variant

75.68 %

value share, Milk and White Chocolate, 2023

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The innovative flavor offerings possible in White chocolate, followed by the preference for varied taste profiles in the region, are anticipated to drive segmental growth.

Largest Segment by Distribution Channel

70.29 %

value share, Convenience Store, 2023

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Convenience stores have been consistent at directly addressing local shopper needs, reinventing formats, and rapidly tailoring their assortments, making it a larger segment.

Fastest-growing Segment by Confectionery variant

8.07 %

Projected CAGR, Dark Chocolate, 2024-2030

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Rising awareness among consumers toward the nutritional content and stress-relieving ability of dark chocolate is anticipated to drive the demand in the country.

Fastest-growing Segment by Distribution Channel

9.09 %

Projected CAGR, Online Retail Store, 2024-2030

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The ease of shopping experience through online channels and the increasing number of retailers present in this channel has become the major driver in the segment.

Leading Market Player

51.54 %

market share, Mondel膿z International Inc., 2022

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An extensive range of product offerings and the company's main focus on taste and nutritional profiles based on consumer preferences support Mondel膿z in the market studied.

Convenience stores accounted for major share of sales chocolate across the country due to easy accessibility

  • Convenience stores are the most widely preferred distribution channels for purchasing chocolates in India. Convenience stores are very easy to approach as they are located near residential and commercial areas and generally offer affordable chocolates. The sales value of chocolates in convenience stores increased by 7% in 2023 compared to 2022.
  • Supermarkets and hypermarkets are the second-largest retail channels in India鈥檚 chocolate market. The rising urbanization and smart city development policies are promoting the expansion of supermarkets and hypermarkets in the country. Milk and white chocolate are largely sold confections through supermarkets and hypermarkets, with a market volume share of 77.74% in 2023.
  • Reliance Retail, Future Retail, D-Mart, Big Bazar, Hypercity, and others are some of the leading supermarket operators in the country. A nationwide network of these operators allows easy access to both local and mainstream chocolate brands. As of 2023, Big Bazar operates more than 285 stores in India. Also, D-Mart operates around 200 supermarkets across the country.
  • Online channels are identified as the fastest-growing distribution channel during the forecast period. Online sales of chocolates in the country are expected to register a CAGR of 9.04%, reaching USD 46.67 million by 2030. An increasing number of online shoppers in response to internet penetration is identified as the key market driver in the country. Also, consumers are increasingly opting for the convenience and fast delivery that online platforms offer. As of 2023, 3% of household consumers in India paid the delivery fee and got groceries delivered within 30 minutes, and 11% of consumers waited up to 3 hours and paid a small delivery fee.
India Chocolate Market

India Chocolate Industry Segmentation

Dark Chocolate, Milk and White Chocolate are covered as segments by Confectionery Variant. Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others are covered as segments by Distribution Channel.

  • Convenience stores are the most widely preferred distribution channels for purchasing chocolates in India. Convenience stores are very easy to approach as they are located near residential and commercial areas and generally offer affordable chocolates. The sales value of chocolates in convenience stores increased by 7% in 2023 compared to 2022.
  • Supermarkets and hypermarkets are the second-largest retail channels in India鈥檚 chocolate market. The rising urbanization and smart city development policies are promoting the expansion of supermarkets and hypermarkets in the country. Milk and white chocolate are largely sold confections through supermarkets and hypermarkets, with a market volume share of 77.74% in 2023.
  • Reliance Retail, Future Retail, D-Mart, Big Bazar, Hypercity, and others are some of the leading supermarket operators in the country. A nationwide network of these operators allows easy access to both local and mainstream chocolate brands. As of 2023, Big Bazar operates more than 285 stores in India. Also, D-Mart operates around 200 supermarkets across the country.
  • Online channels are identified as the fastest-growing distribution channel during the forecast period. Online sales of chocolates in the country are expected to register a CAGR of 9.04%, reaching USD 46.67 million by 2030. An increasing number of online shoppers in response to internet penetration is identified as the key market driver in the country. Also, consumers are increasingly opting for the convenience and fast delivery that online platforms offer. As of 2023, 3% of household consumers in India paid the delivery fee and got groceries delivered within 30 minutes, and 11% of consumers waited up to 3 hours and paid a small delivery fee.
Confectionery Variant
Dark Chocolate
Milk and White Chocolate
Distribution Channel
Convenience Store
Online Retail Store
Supermarket/Hypermarket
Others
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India Chocolate Market Size Summary

The India chocolate market is experiencing significant growth, driven by evolving consumer preferences and increasing disposable incomes. Convenience stores emerge as the most popular distribution channels, offering easy access and affordability, while supermarkets and hypermarkets follow closely, benefiting from urbanization and smart city developments. The market is characterized by a strong presence of major retail operators like Reliance Retail, Future Retail, D-Mart, and Big Bazar, which facilitate the availability of both local and international chocolate brands. Online channels are rapidly gaining traction, propelled by rising internet penetration and consumer demand for convenience and quick delivery. This shift towards online shopping is expected to further boost the market's expansion.

The market landscape is fairly consolidated, with leading companies such as Ferrero International, Mars Incorporated, Mondel茠矛z International, Nestl鈭毬�, and The Hershey Company dominating the scene. These players are actively innovating by introducing premium and health-oriented chocolate products to cater to the growing consumer interest in quality and health benefits. The acquisition activities, such as the Dharampal Satyapal Group's purchase of The Good Stuff Pvt. Ltd. and Reliance Consumer Products' stake in Lotus Chocolate Company, highlight strategic efforts to enhance product portfolios and market reach. The increasing demand for chocolates with enhanced health benefits reflects a broader trend towards premiumization and health consciousness among Indian consumers.

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India Chocolate Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Confectionery Variant

      1. 1.1.1 Dark Chocolate

      2. 1.1.2 Milk and White Chocolate

    2. 1.2 Distribution Channel

      1. 1.2.1 Convenience Store

      2. 1.2.2 Online Retail Store

      3. 1.2.3 Supermarket/Hypermarket

      4. 1.2.4 Others

India Chocolate Market Size FAQs

The India Chocolate Market size is expected to reach USD 2.31 billion in 2024 and grow at a CAGR of 7.58% to reach USD 3.58 billion by 2030.

In 2024, the India Chocolate Market size is expected to reach USD 2.31 billion.

Chocolate Market in India Report Snapshots

India Chocolate Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

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