Indian chocolates gaining global accolades
Indian Chocolates
By Our Special Correspondent
New Delhi, November 27: With the people becoming health conscious, Indian chocolate manufacturers are witnessing sharp rise in global demand. Experts say that the health conscious chocolate lovers are seeking out Indian made chocolates in Europe, Latin America and even the US markets. The rise in the global demand has helped in boosting several Indian chocolate brands.
IMARC in a report said that the Indian chocolate market is poised for growth, with its size expected to escalate from 2.4 billion dollars in 2023 to 4.1 billion dollars by 2028, marking a compound annual growth rate of 8.8%. This is according to a report by market researcher IMARC.
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 in India.
Nikki Asia in a report said that the Indian chocolate manufacturers are witnessing a massive surge in demand from Europe and other countries. The Japanese news magazine gave an example of Regal Plantations, which sells chocolate under the Soklet brand, farms 40 hectares of cacao plantations in Tamil Nadu, and in 2017 became the first and so far only Indian cacao producer to win the International Cocoa Awards, run by Italy-based Cacao of Excellence in partnership with the Ivory Coast-based International Cocoa Organization.
The news magazine said that several new brand of chocolate have come up in Karnataka and Tamil Nadu which are exporting Indian made chocolates to European countries.
India’s flourishing tourism and hospitality industry has also played a role in driving the chocolate market. Tourists and travelers seek to experience local flavors and indulge in sweet treats, including chocolates. “This has is leading to an increased demand for chocolates in tourist hotspots, airport duty-free shops, and hotel gift shops. Furthermore, the introduction of new flavors, textures, and packaging formats to cater to the diverse and evolving consumer preferences is creating a positive market outlook,” IMARC said in its report.
Consumers are now seeking healthier alternatives and are increasingly conscious of the ingredients used in their food products, including chocolates. “As a result, there has been a shift towards dark chocolates, which are perceived to offer health benefits due to their higher cocoa content and lower sugar content. In addition, manufacturers are responding to this demand by producing chocolates with natural and organic ingredients, free from artificial preservatives and additives,” added IMARC.
They are also incorporating functional ingredients, such as nuts, seeds, and fruits, further enhancing the health appeal of their products. Furthermore, the rising awareness of health benefits associated with cocoa consumption, such as improved heart health and antioxidant properties, has positively influenced the chocolate market in India.
“The North India region experiences colder winters, creating a favorable environment for chocolate consumption, making chocolates a sought-after comfort food during the chilly months. This seasonal demand often results in the introduction of special winter-themed chocolates and packaging,” said the IMARC in the report.
Chocolate is a beloved treat savored across the globe, recognized for its rich, decadent flavor and smooth texture. Its origins lie in the Theobroma cacao tree, native to Central and South America. The tree produces pods, which contain cacao beans, which harvested, fermented, dried, and then roasted to generate cocoa nibs, which in turn are grounded to extract a liquid known as chocolate liquor, which is the basis of all chocolate products.
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