chocolate demand rises in festive season - times of india
According to a survey by Assocham, chocolate demand has soared by 40% due to growing concerns about adulterated candy and unusually high dry chocolate
Fruit prices during the festival: With the arrival of the festival, the demand for chocolate as a gift has increased by nearly 40 and may rise further as the price of dried fruit has risen substantially by about 25-
The Apex industry association said today that this ratio is 30.
\"Adulterated in traditional sweets has weakened consumer confidence, along with rising prices for dried fruit and other important multiple factors, for example, in different Indian tastes, attractive packaging, more and more accept chocolate high-quality consistency, growing gift-giving culture, increasingly affluent cities for young people with high disposable income, and crazy sweets and others related factors have driven the demand for chocolate, \"shareD.
S. Rawat, General secretarr (ASSOCHAM).
With the support of its social development foundation, ASSOCHAM has spent the past two weeks in 10 cities in Ahmedabad with around 1,000 consumers, traditional sweet shop, kirana shops, wholesale dried fruit traders and Bangalore, chandigarh, Chennai, Delhi-
Kolkata, Hyderabad, Jaipur, Kolkata, Lucknow and Mumbai.
Most consumers say that dried fruit is the last choice they want to make as a gift during this festival because its price is already high
With Diwali getting closer and closer, Diwali will rise further.
In addition, most respondents also said they prefer chocolate instead of candy as a gift option, taking into account factors such as longevity, health-related benefits, attractive packaging, etc.
Almost all retail stores that sell chocolate gift baskets say their sales are like hot cakes and take into account the substantial increase in demand for chocolate gift baskets as Diwali approaches
Another important factor driving chocolate demand during the Indian festival is that it can be easily ordered online and delivered in a timely manner at the desired destination, highlighting ASSOCHAM\'s survey.
\"Chocolate candy manufacturers have also increased their prices and reduced their packaging size due to sky reasons
\"With prices soaring in domestic/global markets for major raw materials such as cocoa, milk and sugar, the cost of inputs has soared, which will only lead to further tightening of wallets for consumers,\" lavat said . \".
Growing at a compound annual rate (CAGR)
About 25 per cent of India\'s chocolate industry is currently around 5,000 rupees, which may exceed 7,500 rupees in the next few years, while the global chocolate industry is worth more than 85 billion US dollars.
In addition, India\'s per capita income
The per capita consumption of chocolate is hovering around 100 grams, and the city center accounts for the consumption of chocolate in the country.
Cadbury is ahead with a market share of around 70, followed by Nestlé, Amul, Ferrero Rocher, toberlon and others.
\"While the lower penetration rate provides a lot of room for the expansion of the chocolate industry in India, regional confectionery companies are lacking interest in first entering the chocolate market, lawat said: \"This requires a huge capital investment in production and brand promotion, and secondly, it is another difficult task in the face of established global enterprises that rule the market. \".