Indian confectionery market is an evolving one. With product innovations driving growth with young consumers, there is a demand to expand the product range further. Indian market has several segments like ayurvedic confectioneries ? honey based lozenges, digestive mints apart from fruit flavoured candies, chocolates and chewing gums. The industry is growing at 8% with 3200 brands with total market size of INR 56,000 million.
In recent years, India had seen international players & brands like Fruit-tella, and Cofitos, Schogetten from Germany, Ferrero Rocher , Alpenliebe from Perfetti Van Melle. In the chocolate segment, Cadburys is the market leader closely followed by Nestle.
With higher disposable incomes, there is also a rise in demand for premium chocolates where
Chocolate prices are set to increase in India following the rise of price of cocoa in global market. The prices have shot up to $2,516 per tonne from $1,961 per tonne from last year. Global cocoa prices have increased 28% over the past year and is expected to climb further following a crisis in West Africa. The Indian prices have increased over 6% in the last year and it will also affect price of other products like cocoa butter and cocoa powder.