Indian Chocolate Industry










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Indain Chocolate Industry INDIAN CHOCOLATE INDUSTRY AT A GLANCE IN 2019 - 2020 Indain Chocolate Industry


The chocolate industry in India is growing rapidly and is expected to see double-digit growth over the next five years. The latest research from the world’s leading market intelligence agency Mintel predicts that the total value of the chocolate market will reach an estimated INR 172 billion in 2019-20 and is pegged to grow at a CAGR of close to 10% between 2019-2023.

Indian Chocolate Industry in 2019-2020

Reasons for growth

  • The per-capita income of the Indian population has increased, thus increasing the disposable income in their hands.

  • Chocolates are now eaten by the Indian population on a daily basis, earlier it was taken just for special occasions.

  • The growing population of the younger generation is a major driving forece behind the chocolate industries rapid gorwht.

  • Westernisation and change in lifestyle also aid in the growth of the industry.

  • Looking forward, we expect the chocolate market in India to reach revenues worth US$ 3,281 Million, growing at a CAGR of 14% during 2019-2024.

     

     

    Indian Chocolate Industry  INDIAN chocolate industry AT A Glance IN 2018 - 2019

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