Introduction
Chocolates were first brought out in a solid form by Hersheys which at present is amongst the largest manufacturers of chocolate in the world. In India, enormous share of the chocolate market is occupied by Cadburys. Be it children, parents or grandparents, everyone relishes and enjoys a scrumptious bar of chocolate. While youngsters prefer sweet chocolates, adults have an inclination towards dark
Indian scenario
The chocolate market in India is said to be growing at about 18 to 20 per cent every year. In 2008, the market size for chocolates was estimated at 30,000 tonnes. Out of the total market, 90 per cent is dominated by Cadbury and Nestle. Amul is another player which is a major part in the Indian chocolate industry. According to a survey, the per capita consumption of chocolate in India was 300 grams which is comparatively higher than many other countries.
Reasons for growth
Indians have huge fetish for sweets, and thus chocolates are every Indian’s delight. India being the second largest populous country in the world offers immense potential for this product. In addition, with increasing spending power of Indian consumers, people have more money at their disposal. Moreover, the ever revolutionising large retail formats has given the needed impetus to the industry.
International brands making way in India
In the past few years, India has witnessed the entry of international brands in the chocolate industry. According to these players, India is one of the fastest growing markets for confectionery products that offer huge opportunity for growth. Lindt, Hershey's, Patchi, Leonidas, Godiva, Anthon Berg, Chocolat Stella are a few international chocolate labels now available in India. Though the current market share for them is the tiniest of the whole share of the pie, is optimistic for its growth in the near future. At present, their target audiences are those who are familiar with the brand names, which is just a selected group of consumers. The price range for these chocolates is another factor for its selected target group. For one gram of chocolates from these brands, one needs to shell out over Rs 200.
Patchi, entered India in 2003 and is growing at 20-25 per cent year-on-year and operates its own stores in Mumbai and Delhi. Lindt also recently unveiled a magnificent replica of the Taj Mahal. Created by Adelbert Bucher, Lindt Master Chocolatier, the Taj Mahal is a delicious tribute from one of the world’s most loved chocolates to the city, New Delhi and its dynamism. The unveiling also coincided with the re-launch of Lindt Chocolates in India. Narang Hospitality Services was appointed the sole distribution, sales, and marketing partner for Lindt Swiss Chocolates in India in April 2009.
Leonidas the famous Belgian chocolates have made way into India. Vrinda Rambhia, Director, Premium Pralines Pvt. Ltd tells, “It was difficult to get fresh quality chocolates in India. After tasting most of the chocolates available, we loved Leonidas. The key values of Leonidas are freshness, generosity, and tradition. These are the key reasons which made Premium Pralines open a boutique of chocolates. An Indian consumer is always ready to try new products and with a wide range of high-quality products being available now from Leonidas, it will always be their first choice. To enhance the palate and evolve the taste buds of the Indian consumer, Premium Pralines decided to bring Leonidas to India.
Trend
The trends in chocolates have been changing. Bars by the chocolate retail players are the common form of chocolates. Over the years, homemade chocolates have also seen a rise. The latest innovation in the industry is the opening of exclusive chocolate stores. They have now moved from just being of shelves with other products to exclusive stores. Chocolate boutiques are a concept brought to the country by the international players in the segment. There is also a growing demand for sugar-free and diet chocolates.
Conclusion
