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Chocolate trend in India market

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  • Market Size and Growth:

  • Segmentation:

    • The market is segmented based on confectionery variants (such as dark chocolate, milk chocolate, and white chocolate) and distribution channels (including convenience stores, online retail stores, supermarkets/hypermarkets, and others).
    • Milk and white chocolate dominate the market, accounting for 75.68% of the value share in 2023. The innovative flavor offerings in white chocolate contribute to its popularity.
    • Convenience stores hold the largest share (70.29%) in terms of distribution. These stores cater directly to local shoppers, adapt their assortments, and address shopper needs effectively.
    • The fastest-growing segments include:
      • Dark chocolate, with a projected CAGR of 8.07% from 2024 to 2030. Rising awareness about its nutritional content and stress-relieving properties drives demand.
      • Online retail stores, expected to grow at a CAGR of 9.09% during the same period. The ease of online shopping and the increasing number of retailers contribute to this growth.
    • The leading market player is Mondelēz International Inc., which holds a 51.54% market share.
  • Distribution Channels:

    • Convenience stores remain the preferred channel for purchasing chocolates across India due to their easy accessibility and tailored assortments.
    • The rise of online retail stores has also contributed to the market’s growth, providing a convenient shopping experience for consumers.
    • In summary, the Indian chocolate market is thriving, with a diverse range of flavors, distribution channels, and players contributing to its success.
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