Indian sugar confectionery market is estimated to grow at a CAGR of 4.6% during the forecast period. The rising demand for premium chocolates is accelerating market growth. With the increasing disposable income and significant availability, the demand for new-flavored, premium chocolates has emerged significantly in the country. As a result, the market players are launching a new range of their premium chocolate brands to widen their consumer base in the country. For instance, 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. In addition, the rising consumption of nuts and seeds snack food brands are strengthening the demand for snack bars in the country.

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Indian confectionery market is segmented based on product and distribution channel. Based on the product, the market is classified into chocolate, sugar based food, and snack bars. Chocolate segment is further segmented into white and milk chocolate and dark chocolate. Sugar based food segment is further segmented into boiled sweets, caramels and toffees, mints, gums and jellies, and others. Snack bars are further segmented into energy bars, cereal bars, and others. Based on the distribution channel, the market is segmented into an online and offline distribution channel. Offline distribution channels are further segmented into supermarket/hypermarket, convenience stores, and others. The online distribution channel is expected to grow at the fastest CAGR during the forecast period. The rising trend towards online shopping coupled with the busy lifestyle and convenience is encouraging providers of confectionery products to increase their online presence. Mondel?z is one of the key players focusing on expanding its online reach in the country. 

Some prominent players in the market include Mondel?z International, Inc., Ferrero International S.A., Nestlé S.A., Mars, Inc., The Hershey Co., and ITC Ltd. Mergers and acquisitions and product launches are considered as some key strategies used by the market players to increase their market share. For instance, in November 2018, Nestle India entered the super-premium chocolate segment with the launch of its new Les Recettes De L’Atelier range of chocolate tablets. It is a premium collection of hand-crafted artisanal chocolates in India. These premium chocolates are available in four variants across stores in major cities and select e-commerce players. The range comprises Dark Cranberry Almonds, Milk Chocolate Raisins Almond Hazelnuts, Dark Raisins Almonds Hazelnuts, and Dark Roasted Almonds. 

Research Methodology

The market study of the Indian confectionery market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Indian Sugar Confectionery Market Research and Analysis by Product
2. Indian Sugar Confectionery Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the Indian sugar confectionery market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian sugar confectionery market.
• Insights about market determinants which are stimulating the Indian sugar confectionery market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.