The India Chocolate Market Size Was Worth USD 2,590 Million in 2023 and Is Expected To Reach USD 4,960 Million by 2032, CAGR of 7.5%.

The India chocolate market size reached USD 2.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.5 Billion by 2033, exhibiting a growth rate (CAGR) of 7.30% during 2025-2033. The rise of e-commerce platforms across the country, the easy access to a wide range of domestic and international chocolate products, and the introduction of new flavors and packaging formats are among the key factors driving the market growth.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels from 2025-2033. Our report has categorized the market based on type, product form, packaging type and distribution channel.

Discover key trends shaping India Chocolate Market, size at USD 1.97 billion in 2023, featuring industry analysis and opportunities.

In 2021, Mondelez International was the largest chocolate confectionery company in India with a market share of 55.9 percent. This was followed by Nestlé SA with a market share of about 15 percent. The retail sales of chocolate confectionery stood at over one billion U.S. dollars that same year.

India Industrial Chocolate Market is estimated to be US$ 4.60 Billion by 2034 and is anticipated to register a CAGR of 11.6%

The India Chocolate Market is experiencing steady growth, driven by increased demand for a variety of chocolates catering to different consumer preferences.

India Real Chocolate Market was valued at USD 2.88 Billion in 2024 and is expected to reach USD 4.79 Billion by 2030 with a CAGR of 8.85%.

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Dark Chocolate Market Size 2025-2029

The dark chocolate market size is forecast to increase by USD 37.37 billion at a CAGR of 9.1% between 2024 and 2029.

The market experiences robust growth, fueled by the health benefits associated with its consumption. Consumers' increasing preference for gourmet, artisanal, vegan, and gluten-free dark chocolate variants underscores this trend. The health benefits, including improved heart health and cognitive function, further bolster market expansion. However, market growth faces challenges. Volatility in raw material prices, particularly cocoa beans, poses significant risks to manufacturers. Regulatory hurdles impacting labeling requirements and import/export regulations also temper growth potential.
To capitalize on market opportunities and navigate challenges effectively, companies must focus on supply chain optimization, price transparency, and innovation to cater to diverse consumer preferences. Strategic partnerships and collaborations can help mitigate risks and ensure a steady supply of high-quality raw materials. However, the market's expansion is not without challenges. Volatility in raw material prices, primarily cocoa beans, poses a significant hurdle. Supply chain inconsistencies, particularly in sourcing sustainable and ethically produced cocoa, also temper growth potential.

What will be the Size of the Dark Chocolate Market during the forecast period?

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In the dynamic chocolate market, various segments continue to gain traction among consumers. Gluten-free and sugar-free options cater to dietary needs, while couverture and extra dark varieties appeal to those seeking intense flavors. Sustainability is a key trend, with fair trade, ethical, and sustainable chocolate gaining popularity. Luxury chocolate brands showcase their offerings at chocolate fairs and exhibitions, while gourmet chocolate makers conduct masterclasses and tastings for connoisseurs. Bean-to-bar and artisan chocolate producers traceability and single-origin origins. Cocoa processing and manufacturing techniques evolve, focusing on premium quality and preservation. Dried fruits, such as blueberries, are often added to dark chocolate for an extra health boost.
Chocolate decoration and packaging innovations enhance the overall consumer experience. Chocolate connoisseurs and sommeliers pair chocolate with wine, while vegan and low-sugar options cater to diverse palates. Chocolate production workshops and molding classes provide hands-on experiences for enthusiasts. Overall, the chocolate industry continues to evolve, offering a wide range of options for discerning consumers.

How is this Dark Chocolate Industry segmented?

The dark chocolate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Conventional
  Organic


Distribution Channel

  Offline
  Online


Product Type

  70 percent cocoa dark chocolate
  75 percent cocoa dark chocolate
  80 percent cocoa dark chocolate
  90 percent cocoa dark chocolate


Geography

  North America

    US
    Canada


  Europe

    Belgium
    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Type Insights

The conventional segment is estimated to witness significant growth during the forecast period. In the dynamic market, a range of products cater to diverse consumer tastes and preferences. Dark chocolate bars, available in various cocoa percentages from semi-sweet to bittersweet, remain a popular choice. Their smooth textures and rich cocoa flavors appeal to chocolate connoisseurs. Dark chocolate blocks, utilized in baking and confectionery applications, provide versatility for creative culinary endeavors. Additionally, convenient dark chocolate pieces or chunks are ideal for snacking or recipe integration. The market also offers an extensive selection of flavored dark chocolate products, infused with fruits, nuts, spices, and herbs, adding complexity and depth to taste profiles. Dark chocolate blocks are also prominent, offering versatility in baking and confectionery applications.

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The Conventional segment was valued at USD 35.52 billion in 2019 and showed a gradual increase during the forecast period. Other forms include dark chocolate mousse, cake, beverages, syrup, ganache, and truffles. Furthermore, the market accommodates dietary preferences with offerings of vegan, gluten-free, and low-sugar dark chocolate. Cocoa solids and milk solids are essential ingredients in dark chocolate production, contributing to its distinct flavor and texture. Premium and luxury dark chocolate, gourmet and single-origin varieties, as well as intense and extra dark chocolate, ca

The Indian chocolate market presents a dynamic landscape marked by significant growth potential. While precise figures for market size and CAGR are unavailable in the provided data, leveraging publicly available reports and industry analysis, we can infer substantial expansion. India's burgeoning middle class, coupled with rising disposable incomes and a preference for premium confectionery, fuels this growth. The confectionery segment, dominated by milk chocolate, is witnessing strong demand, particularly through convenient retail channels like convenience stores and supermarkets. Online retail is also experiencing rapid growth, reflecting changing consumer behavior. Key drivers include festive seasons, increasing gifting culture, and the launch of innovative products catering to diverse taste preferences. However, challenges remain, such as price sensitivity among a large section of consumers, potential health concerns surrounding high sugar content, and competition from traditional sweets. Strategic pricing, product diversification (e.g., healthier options like dark chocolate with higher cocoa content), and robust marketing campaigns targeting specific demographics are crucial for success in this competitive market. Major players like Cadbury (Mondelēz), Nestle, and Hershey are actively vying for market share, alongside prominent domestic brands. The regional distribution of the Indian chocolate market is largely concentrated in urban areas, with metropolitan cities driving the highest consumption. However, expanding into tier-2 and tier-3 cities presents a considerable growth opportunity. Distribution channels are evolving, with online platforms gaining traction, while traditional retail channels continue to dominate. Government regulations concerning food safety and labeling also influence market dynamics. Furthermore, sustainability initiatives and ethical sourcing of cocoa are increasingly gaining importance, potentially influencing consumer choices and brand positioning. This necessitates a strategic approach emphasizing both affordability and quality while addressing consumer concerns about health and environmental impact to effectively capitalize on the potential of this expanding market. Recent developments include: June 2023: Dharampal Satyapal Group (DS Group) announced the acquisition of The Good Stuff Pvt. Ltd, formerly known as Global CP Pvt. Ltd., which sells chocolates and confectioneries under the LuvIt brand. This acquisition can prove a strategic move to grow and strengthen the group’s Confectionary portfolio.May 2023: Reliance Consumer Products (RCPL), the FMCG arm of Reliance Retail Ventures (RRVL), completed the acquisition of a controlling stake in Lotus Chocolate Company Ltd.February 2023: Ferrero International SA expanded its business by introducing a new chocolate variant under its brand, Kinder® Chocolate Mini Friends. The expansion is based on its strategic move to increase its consumer base by offering unique flavored products.. Notable trends are: Convenience stores accounted for major share of sales chocolate across the country due to easy accessibility.

The Asia Pacific Chocolate Market report segments the industry into Confectionery Variant (Dark Chocolate, Milk and White Chocolate), Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others), and Country (Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, South Korea, Rest of Asia-Pacific). Get five years of historical data and forecast insights.

The India chocolate market was valued at USD 1.80 Billion in 2024. The market is projected to grow at a CAGR of 5.20% between 2025 and 2034, reaching a value of USD 2.99 Billion by 2034.

In 2017, the amount of white chocolate imported into India totaled X tons, rising by X% against the previous year. In general, white chocolate imports continue to indicate a remarkable expansion. The growth pace was the most rapid in 2010, an increase of X% against the previous year. Over the period under review, the white chocolate imports reached its peak figure volume in 2017, and are expected to retain its growth in the near future.In value terms, white chocolate imports stood at $X in 2017.

India emerged as one of the fastest growing markets in the world for chocolate in recent years, with a total market size of over 112.5 million Indian rupees in 2016. Although the production and consumption of chocolate was growing steadily each year, only a handful of companies ruled the sector. Mondelez – earlier known as Cadbury in India, had consistently been the country’s largest chocolate-maker since the 1990s. In 2016, it held the largest share of the country’s chocolate confectionery market with around 49 percent. This was much higher compared to the other global giant in the food and beverages industry – Nestle, at around 13 percent of the market share.

Cocoa production in India

In India, the cocoa crop had been grown commercially only since the 1970s and even then, it is grown primarily as an intercrop since it requires plenty of shade and a specific tropical climate. The country produced over 147.3 thousand metric tons of chocolate and cocoa powder during fiscal year 2016, out of which Andhra Pradesh produced over 7,000 metric tons of cocoa, followed by Kerala at 6,500 metric tons. That same year, the worldwide estimates of coca production amounted to approximately 3.97 million tons.

India’s sweet tooth

The retail sales of chocolate products across India amounted to approximately 1.8 billion U.S. dollars in 2018, up from around 1.6 billion dollars in the year 2016 and analysts estimated the figures to only grow over the next years. Extensive marketing and promotional strategies by chocolate manufacturers, a growing culture of gifting chocolates, and changing taste preferences of Indian consumers were some of the factors that accounted for this surge in the country’s chocolate confectionery market. For India's chocolate makers and consumers, the fun seems to have only just begun.

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Industrial Chocolate Market Size 2025-2029

The industrial chocolate market size is forecast to increase by USD 2.76 billion at a CAGR of 5% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the increasing consumer awareness and preference for dark chocolate due to its perceived health benefits. This trend is expected to continue, providing a promising opportunity for market participants. Volatility in the prices of essential ingredients like cocoa and sugar can significantly impact the profitability of chocolate manufacturers. The distribution chain for chocolate confectionery includes premium and high-quality chocolate manufacturers, chocolate confectionery companies, and food service providers.
Additionally, companies are placing greater emphasis on sustainable cocoa production to meet evolving consumer demands and mitigate potential risks. However, the market is not without challenges. Fluctuations in the prices of key raw materials, such as cocoa and sugar, pose significant risks to profitability and operational planning for chocolate manufacturers.
Effective supply chain management and price risk mitigation strategies will be essential for companies seeking to capitalize on market opportunities and navigate these challenges successfully.

What will be the Size of the Industrial Chocolate Market during the forecast period?

The market is characterized by its continuous evolution and dynamic nature, with various sectors and applications driving market growth and innovation. Chocolate tempering and quality control remain crucial aspects of industrial chocolate processing, ensuring the production of high-quality bulk chocolate for diverse industries. The foodservice sector and retail industry are significant consumers of chocolate, with a growing demand for chocolate inclusions and customized formulations. Chocolate distributors play a vital role in the supply chain, facilitating the delivery of chocolate products to various markets. Chocolate robotics and automation are transforming industrial chocolate production, enhancing efficiency and reducing waste.
Chocolate trends continue to unfold, with sustainability and safety standards becoming increasingly important. Chocolate formulations are continually evolving to cater to changing consumer preferences, with innovations in chocolate technology and flavorings driving new applications in confectionery manufacturing. The bakery industry also relies heavily on chocolate, with chocolate enrobing and decoration being essential processes. Chocolate storage and logistics are critical components of the chocolate supply chain, ensuring the stability and shelf life of chocolate products. Chocolate recycling and certifications are also gaining importance, reflecting the industry's commitment to reducing waste and maintaining ethical production practices. Compound chocolate and chocolate fillings are popular choices for various applications, from bakery products to chocolate bars.
Chocolate stability and customization are key considerations in chocolate engineering, with chocolate labeling and packaging playing a crucial role in marketing and branding efforts. The ongoing unfolding of market activities and evolving patterns underscores the importance of staying informed and adaptable in the ever-changing the market.

How is this Industrial Chocolate Industry segmented?

The industrial chocolate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Milk chocolate
  Dark chocolate
  White chocolate


End-user

  Confectionery
  Biscuits and bakery products
  Dairy and desserts
  Ice creams and frozen items
  Others


Product Type

  Cocoa Powder
  Cocoa Liquor
  Cocoa Butter
  Compound Chocolate


Geography

  North America

    US
    Canada


  South America

    Brazil
    Argentina


  Middle East and Africa

    UAE


  Europe

    Belgium
    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Application Insights

The milk chocolate segment is estimated to witness significant growth during the forecast period.

Milk chocolate, a popular type of chocolate with a smoother and creamier taste due to the addition of milk solids, has seen a decelerating demand as consumers prioritize healthier options. One pound of milk chocolate contains approximately 2,300 calories, 140 grams of fat, and 100 mg of cholesterol. This has led to an increasing preference for dark chocolate, which contains higher amounts of cocoa solids and less sugar and milk. Chocolate suppliers cater to this trend by offering a wider range of dark chocolate varieties. In the industrial chocolate processing sector, chocolat

The Indian chocolate market was estimated at $1.9B in 2024, approximately reflecting the previous year. Over the period under review, consumption posted a buoyant expansion. As a result, consumption attained the peak level of $2.2B. From 2023 to 2024, the growth of the market remained at a somewhat lower figure.

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Chocolate Confectionery Market Size 2024-2028

The chocolate confectionery market size is forecast to increase by USD 31 billion at a CAGR of 4.36% between 2023 and 2028.

The market is experiencing significant growth, driven by the frequent product launches and packaging innovations in the industry. Consumers' increasing preference for premium and artisanal chocolate products, coupled with the expanding retail presence of these offerings, is fueling market expansion. However, the market faces challenges, including the rise in the number of product recalls due to contamination issues. These incidents can negatively impact brand reputation and consumer trust, necessitating stringent quality control measures. To capitalize on market opportunities and navigate challenges effectively, companies must prioritize product safety, invest in research and development for innovative offerings, and adopt sustainable and ethical sourcing practices. By staying abreast of consumer trends and market dynamics, chocolate confectionery players can position themselves for long-term success in this dynamic and competitive market.

What will be the Size of the Chocolate Confectionery Market during the forecast period?

Request Free SampleThe market experiences growth, fueled by consumers' enduring affection for premium quality chocolate products. Global chocolate consumption continues to rise, driven by the popularity of both mainstream and luxury indulgence offerings. Premium confectionery products, including milk mousse and creamy caramel, capture a significant market share due to their rich sensorial appeal. Health-conscious consumers seek out chocolate with label claims such as organic, sustainably sourced, and dark chocolate varieties, reflecting the trend towards healthy eating lifestyles. Exotic spices, floral notes, unexpected textures, and rare cocoa varieties add to the market's dynamic nature, catering to the diverse tastes of chocolate lovers. Artisanal chocolates, with their distinct flavor combinations, further expand the market landscape, offering a unique and luxurious experience.

How is this Chocolate Confectionery Industry segmented?

The chocolate confectionery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ProductChocolate barsBoxed assortments and seasonal variantsOthersDistribution ChannelOfflineOnlineGeographyEuropeGermanyUKNorth AmericaUSAPACChinaIndiaSouth AmericaMiddle East and Africa

By Product Insights

The chocolate bars segment is estimated to witness significant growth during the forecast period.The market is expected to grow steadily, with chocolate bars remaining the largest segment in 2023 and beyond. This segment includes countlines and molded bars. Countlines consist of individually wrapped, chocolate-coated bars, while molded bars are small chocolate pieces cut from larger blocks. Major brands such as Snickers, Milky Bar, Milka, Galaxy, 5 Star, Dove, and Cadbury Dairy Milk dominate the chocolate bars market. Innovative chocolate flavors and textures, as well as attractive packaging, are key growth drivers. Consumer preferences for premium quality products, including dark chocolate confectionery with health benefits, are influencing market trends. Peanut butter, milk mousse, creamy caramel, and other gourmet flavors are gaining popularity. Healthy eating lifestyles have led to the demand for sugar reduction, low-calorie, and sugar-free chocolate snacks. Premium chocolate brands, artisanal chocolates, and organic and sustainably sourced chocolate are also on the rise. Consumer packs, added sugar content, and seasonal treats are other market trends. Consumers' preferences for high-quality, gourmet chocolate products, visual appeal, and innovative varieties continue to shape the market.

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The Chocolate bars segment was valued at USD 50.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 33% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European the market is driven by the demand for premium quality products, particularly in the UK, Germany, France, Switzerland, Italy, Russia, the Netherlands, Poland, Belgium, and Spain. Major players in this market include Mars, Mondelez International, Barry Callebaut, Nestle, Ferrero, and Chocoladefabriken Lindt and Sprungli AG. The market is highly competitive, with a variety of offerings from both regional

In India Dark Chocolate Market, There is a growing demand for sustainably sourced and fair-trade certified dark chocolate, as consumers become more conscious of the environmental and ethical aspects of their food choices.

The India Industrial Chocolate market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

The premium chocolate market is expected to attain Frequent with a value of USD 7,400 million by 2025, after arrangement of a growing market of corresponding extent inside its skyline. From 2025 to 2035, the market is smudges with an 8.7% compound annual growth rate (CAGR), with an estimated 2035 value of USD 17,100 million. Demand for premium chocolate in both developed and emerging markets continues to be driven by a shift in consumer preference towards artisanal, organic and sustainably-produced chocolate coupled with rising disposable incomes and increasing sophistication of tastes.

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Chocolate (Confectionery) Market in India – Outlook to 2025; Market Size, Growth and Forecast Analytics is a broad level market review of Chocolate market in India. Read More