The Indian chocolate industry has been valued at INR 58 billion and is estimated to be worth INR 122 billion by 2019, growing at the rate of almost 16 per cent a year. Milk chocolate is the most favoured chocolate among Indians and factors in about 75 per cent of the total chocolate sales in India. Currently, dark chocolate comes third in sales, having a market share of 9 per cent.* But this is expected to grow in India with the rising awareness of health and healthy eating among Indians.
Indian chocolate, as we know it, has come a long way since its inception. The first one available was Cadbury, in 1947. Today, it's one of the top players in the Indian chocolate market, boasting of a 64 per cent value share and 62 per cent volume share. Started in Mumbai, now it is about 5.5 lakhs outlets strong. It sources milk from its own subsidiaries and cocoa from farms in Karnataka, Kerala and Tamil Nadu. Cadbury is known for its exceptional innovation, distribution and marketing. It has manufactured a variety of brands including Dairy Milk, 5 Star, Perk, Gems, Bytes, Delite and Temptations. According to Reuters, thanks to increasing demand born of better living, Cadbury Chocolates is planning to push production from 10, 000 to 16,000 tons in India.
The second biggest leader of chocolate in India is Nestle, which has introduced international brands in the market like Kit Kat and Lions, and local ones like Munch, Alpino, and Bar One, gaining about a 15 per cent share in the market. Another big player in the market is Amul. Founded in 1946, it occupies about 1.5 per cent of the chocolate share. Chocolate giant Mars has recently started production in India. The popular brands under it include Snickers, Galaxy, Mars, Milky Way, Skittles, M&M's and Twix. The Italian confectionery giant, Ferrero, started a production factory in Maharashtra in 2014, with a market share today of 5 per cent. Some of the best brands under it are Nutella, Ferrero Rocher, Ferrero Rondnoir, Mon Cheri, and Confetteria Raffaello. Hershey's, another international chocolate giant, is looking to enter the Indian market soon as well
Cadbury and Nestle chocolates today comprise 90 per cent of the Indian chocolate market. Some of the biggest and best brands of chocolate in India stemming from these include Cadbury's India Limited, Nestle India, Gujarat Co-operative Milk Marketing Federation, Cocoa Manufacturers and Processors Co-operative, Bar Count Lines Wafer Panned Premium, Cadbury's Dairy Milk and Variants, 5 Star Milk, Amul Milk Chocolate, Treat Park Gems, Tiffins Temptations & Celebrations, Nestle Milky Bar & Bar One.
One of the newest and best luxury chocolates, especially dark, to enter the India market is Schmitten. Premium chocolate following Swiss manufacturing processes and ingredients, it is estimated to have a firm toehold in the Indian chocolate market already.
A recent survey has estimated total chocolate sales in India at 1.6 billion dollars. With the production of cocoa meeting certain hiccups, prices of chocolate are predicted to go higher in the near future. But the rise in the standard of living among Indians is expected to keep the brands alive and kicking for a long time to come.
*Source: Indian Mirror, http://www.indianmirror.com/indian-industries/2015/chocolate-2015.html
