India chocolate industry will be growing at the CAGR 23%

The chocolate market in precedent years has been witnessing tremendous growth in terms of value as well as volume. The governance of market is maintained by large international giants through franchisee and expansion into new markets which is leading to the growth of the chocolates market in India. Indian chocolate industry has registered a growth of 15% per annum from 2008 to 2012 and is projected to grow even at a higher rate in future. The industry has a positive outlook due to phenomenal growth in the confectionery industry, rising per capita income and gifting culture in the country.
According to “India Chocolate Market Forecast & Opportunities, 2018”,theper capita consumption of chocolates is increasing in the country which will continue to flourish the market revenues. 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.
To Know More - In-depth understanding of chocolate market in India