The India Chocolate Market is segmented by Confectionery Variant (Dark Chocolate, Milk and White Chocolate) and by Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others). Market Value in USD and Volume are both presented. Key data points observed include market segmental split by confections, confectionery variant, sugar content, and distribution channel.

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.

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%.

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

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

The Chocolate Market Size in India is segmented by Type (Cocoa Powder, Cocoa Liquor, Cocoa Butter, and Compound Chocolate); and by Application (Bakery Products, Confectionery, Bakery Premixes, Beverages, Frozen Desserts and Ice Creams, and Other Applications). The market size and values (in USD million) during the forecasted years for the above segments.

India Chocolate Market size was valued at USD 2.27 Billion in 2024 and is projected to reach USD 4.23 Billion by 2031, growing at a CAGR of 8.10% during the forecasted period 2024 to 2031.

The India chocolate market is driven by rising disposable incomes, urbanization, and changing consumer preferences, which have made chocolate a popular snack and gift item across demographics. Growing awareness of premium and international chocolate brands has expanded the market, along with the increasing popularity of dark and organic chocolate among health-conscious consumers. Seasonal demand during festivals and special occasions fuels sales, while innovations in flavors and packaging cater to younger audiences. Additionally, the influence of Western culture, the expansion of organized retail, and aggressive marketing by major brands have contributed to a stronger chocolate consumption culture in India.

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 ** percent. This was much higher compared to the other global giant in the food and beverages industry – Nestle, at around ** percent of the market share. Cocoa production in India In India, the cocoa crop has 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 ***** metric tons of cocoa, followed by Kerala at ***** metric tons. That same year, the worldwide estimates of coca production amounted to approximately **** million tons. India’s sweet tooth The retail sales of chocolate products across India amounted to approximately *** billion U.S. dollars in 2018, up from around *** 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.

India Chocolate Market is expected to reach USD 5,320.17 million by 2033, growing at a CAGR of 8.35% from 2025-2033.

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 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.

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

In 2023, the retail sales value of chocolate confectionery products in India stood at 2.43 billion U.S. dollars. This was an increase compared to the previous year. The sales value is expected to reach over four billion dollars by 2028, growing at a compound annual growth rate of 10.2 percent.

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.

The size of the Chocolate Industry in India market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.80% during the forecast period. In India, the chocolate sector is growing quickly with a focus on producing and selling dark, milk, and white chocolates, along with chocolate snacks and confectioneries. Growing disposable incomes, urbanization, and changing consumer preferences for high-quality and innovative chocolate products are fueling this market. Some of the main factors that have led to this growth are the increase in distribution channels like convenience stores and online retail, as well as the growing demand for healthier alternatives such as dark chocolate. The market is also positively impacted by seasonal holidays, gift giving patterns, and the growing emphasis on sustainable practices and transparent ingredient sourcing. Moreover, the focus of the sector on distinguishing products and strategic marketing initiatives matches with consumer demand for distinctive and culturally significant chocolate options. 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.. Key drivers for this market are: Influence of Endorsements, Aggressive Marketing, and Strategic Investments, Demand for Sustainable Chocolates and Single Origin Certified Chocolates. Potential restraints include: Availability of Counterfeit Products, Fluctuating Price of Raw Materials. Notable trends are: Convenience stores accounted for major share of sales chocolate across the country due to easy accessibility.

India Real Chocolate Market was valued at USD 2.88 Billion in 2025 and is expected to reach USD 4.79 Billion by 2031 with a CAGR of 8.85%.

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

In 2024, the Indian chocolate and confectionery market increased by 7.2% to $20.1B, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +4.3% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $20.2B in 2019; however, from 2020 to 2024, consumption failed to regain momentum.

Snapshot img

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 size of the India Industrial Chocolate Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 12.89% during the forecast period. The Indian industrial chocolate market concentrates on creating and delivering chocolate products for use in industries like confectionery, bakery, and dairy. The market is seeing a big growth due to higher interest in chocolate products and the expansion of the food processing sector. Mondelez International and Barry Callebaut are top companies in the market, known for their wide range of products and strong distribution networks. The growing demand for high-quality and handcrafted chocolates, as well as the increasing preference for compound chocolates, is shaping the evolving market environment. Even though there are difficulties like changing raw material prices and the requirement for constantly coming up with new products, the market's optimistic future is backed by continuous research and development work along with growing consumer interest in top-notch chocolate goods. This path highlights the important contribution of industrial chocolate to the Indian food sector and its outlook for further market expansion. Recent developments include: December 2022: Barry Callebaut has announced the opening of a third factory in India to expand its operations. The greenfield facility will be in Neemrana, which is about 120 kilometers southwest of Delhi. It will be 20,000 square meters big and will start working in 2024., October 2022: Puratos India launched hard compound chocolate, Carat Cover Classic, and fat-based filling, Carat Supercrem, the two kinds of colored and flavored compound chocolate and compound filling., March 2021: The Barry Callebaut Group, a well-known producer of premium chocolate and cocoa products, opened a brand-new plant for chocolate and a compound in Baramati, India. The new chocolate factory and warehouse include an R&D lab and assembly lines capable of producing chocolate and compounds in a variety of delivery formats to meet the expectations of its consumers, which include international food manufacturers, local confectioneries, and semi-industrial bakeries and patisseries.. Key drivers for this market are: Increasing Demand for Functional and Fortified Food, Multi-functionality and Wide Application of Riboflavin. Potential restraints include: Low Stability of Riboflavin on Exposure to Light and Heat. Notable trends are: Premium Chocolates Gaining Popularity.