It is expected that India chocolate industry will be growing at the CAGR 23% by volume between the years 2013-2018 and reach at 3,41,609 Tons. The dark chocolates are expected to account for the larger market share when compared to milk and white chocolates in the coming years. Increased per capita consumption and a liking for international brands has helped the industry to register huge growth rates.
The Indian chocolates sales globally have witnessed a decline in the last few years due to 2009 economic crisis. However, the chocolate market has shown an upward trend since late 2010 with the improvement in the economy.
It is forecasted that India chocolate market will reach USD 3.2 Billion revenues by 2018 due to increasing gifting culture in the country and increase in the income bracket which will fuel the demand for chocolate products in India. India chocolate market is divided into four segments where Bars chocolate segment accounts for maximum share of 36%. However, the demand for assorted chocolates is expected to increase in the coming years on account of festive-gifting.