India has one of the world's fastest growing chocolate markets which posted a huge 13 per cent sales growth this year, according to a research. The research conducted by London-based global market firm Mintel states that while the chocolate sales in other nations have stagnated, India consumed 228,000 tonnes worth of chocolate in 2017.
India's chocolate confectionery market had had a strong CAGR (compound annual growth rate)
of 19.9 per cent, in retail market value for the past five years and is expected to grow at a CAGR
of 20.6 per cent from 2016 to 2020, the research said.
Major Chocolate Brands in India
Mondelez India (formerly Cadbury India) and Nestle India are the major players with a colossal
92% of the total sales in 2014. Indian companies like Amul and ITC also have a good share. The
domestic chocolate market is estimated to be little more than Rs 7,000 crore. International brands
like Mars and Ferrero India are also trying to gain ground in the Indian market. The premium
chocolates contribute 10-12 % to chocolate market which is persistently on an upward growth.