💡 A Deep Dive into India's $2.5 Billion Chocolate Industry
ReadOn Insights May Report: India's Chocolate Industry. Read on!
ReadOn Insights is our latest initiative to make quality industry insights available to all business owners, employees, professionals and investors and enable them to think sharper, deeper, smarter.
In the twenty first edition, we look at the $2.5 billion chocolate industry in India.
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👉 India's chocolate industry is growing at a 7.6% CAGR, much higher than the global 2.8% CAGR.
👉 Rising disposable incomes, urbanisation, increasing health consciousness are driving growth for premium and artisanal chocolates.
👉 From the nostalgic chocolate bars to premium dark chocolates and gift boxes, there are endless products in this space. Think cakes, ice creams, cookies, skincare, and whatnot!
👉 Cocoa prices have surged more than 250% over the last year, due to cocoa supply shortage in West Africa. This may increase input costs for chocolate makers, who may in turn increase prices for customers.
With established brands like Cadbury and Mars, and new age brands stirring innovation, the future of this industry looks very exciting!
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