NEW YORK, July 20, 2016 /PRNewswire/ -- Executive Summary
The global demand for chocolate is now showing recovery and leading suppliers such as Barry Callebaut are now forecasting stabilization of demand in the key markets worldwide. In 2020, the United States is expected to be the largest consumer of chocolate globally, followed by Russia. Amongst the BRIC nations, while India and China are nations projected to have the highest chocolate market growth in the period 2015-2020, economic conditions in Brazil and Russia have been hampering the chocolate market's growth
India and China are amongst the four countries projected to have the highest chocolate market growth in the period 2015-2020. Other countries include Mexico and Brazil. The domestic chocolate industry is worth approximately INR 7,000 crores and is currently growing at a rate of 20% annually, projected to grow by 30% by 2020. Close to 70% of the chocolate is consumed in urban India. Factors such as poor infrastructure, lack of cold storage facilities and greater affinity for traditional Indian sweets inhibit the growth of the rural chocolate market.Emerging trends in the country include a growing affinity for dark and sugarless chocolate, along with growing demand for premium chocolates.
The government corruption crackdown has dampened the chocolate market in China. In 2014 the per capita consumption of chocolate in China was just 0.2 kgs as compared with 2.5 kgs per person in Brazil, 0.7 kgs per person in India and 2.2 kgs in United States.In 2014, the chocolate market in China generated sales worth approximately USD 3.2 billion and is projected to grow to USD 4.4billion by 2020.A challenge facing the market is that Chinese customers do not trust home grow brands due to food safety issues. They have a greater affinity for foreign chocolate brands, close to 70% of the Chinese chocolate market is controlled by European brands. Other than the food safety concern, the poor performance of local chocolate brands can be attributed primarily to poor marketing efforts
Why should the report be purchased?
The report 'A Study of the Indo-China Chocolate Market 2016'highlights key dynamics ofthe global, India and China'schocolate market. The potential of the sector has been investigated along with the emerging trends.The current market scenario and future prospects of the sector has also been studied. The report contains profiles of key players including Nestle S.A., Mars Foods, Ferrero Rocher, The Hershey Company, Mondelez International Inc., Amul. The report contains latest opinions of industry experts.
Research methodology and delivery time
Smart Research Insights has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available in soft as well as hard copy format. The delivery time for the electronic version of the report is 2 business days. The dispatch time for hard copies is 3 business days, as each hard copy is custom printed for the client.
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