Indian sugar confectionery market is estimated to grow at a CAGR of 4.6% during the forecast period. The rapid shift towards online shopping owing to the busy lifestyle and convenience is motivating the manufacturers of confectionery products to widen their online presence. Therefore, the market players are actively looking for a major space in the online market. For instance, in July 2017, Mondel?z India declared strategic collaboration with Amazon.in, India’s largest online marketplace, for the establishment of the first virtual Chocolate & Sweet Store in India.
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The collaboration is offering a new opportunity for Mondelez to tap into the e-commerce market by offering an additional channel for consumers. With the first-of-its-kind Chocolate & Sweet Store, Mondelez is also increasing its gifting experience for consumers, through which consumers can buy not only the traditional gift packs, however, exclusive e-commerce packs according to the relevant occasion. Online sales channel offers an opportunity to the global confectionery players to reach to their target audience more easily and effectively, which in turn, is offering an opportunity for the growth of the market.
Scope of the Indian Sugar Confectionery Market
- Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product and Distribution Channel
- Competitive Landscape- Mondel?z International, Inc., Ferrero International S.A., Nestlé S.A., The Hershey Co., and ITC Ltd.
Recent Developments in the Indian Sugar Confectionery Market
- In January 2020, Hershey India Pvt Ltd. declared the launch of its chocolate bars under its flagship Hershey’s brand. With the introduction of the bars, the company enters the chocolate market led by Mondelez. With the launch of chocolate bars, the company is looking to widen its outlet reach by 3 times that will enable the firm to be available in upscale general trade stores, modern trade, and e-commerce platforms. With the widened portfolio, Hershey will go deeper into the major 70 cities in urban India. The Hershey’s Bars are available in three variants, including Cookies ‘n’ Crème, the classic Creamy Milk, and the Whole Almonds variant.
- In October 2019, ITC launched the world’s most expensive chocolate which costs nearly $6,080 per kilogram under its Fabelle brand. The company’s luxury chocolate brand Fabelle Exquisite Chocolates launched its limited-edition range chocolate ‘Trinity-Truffles Extraordinaire’, which entered into Guinness World Records to become the world’s most expensive chocolate.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
Ø Recovery Timeline
Ø Deviation from the pre-COVID forecast
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Indian Sugar Confectionery Market-Segmentation
By Product
Chocolate
- White and Milk
- Dark
Sugar Based Food
- Boiled Sweets
- Caramels and Toffees
- Mints
- Gums and Jellies
- Others
Snack Bars
- Energy Bars
- Cereal Bars
- Others
By Distribution Channel
- Online
- Offline
Ø Supermarket/Hypermarket
Ø Convenience Stores
Ø Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
