Growth Of Chocolate Industry For The Last 2 Years

Chocolate Bouquet

A majority of people, today, loves chocolates and thus the demand for good quality chocolates has only been on the rise since the past few years. Chocolate has also become one of the main ingredients for desserts and sweets. Growing awareness of the health benefits it has to offer has only increased the popularity of chocolate. Customers are willing to spend any amount of money for high quality and delicious chocolates.

Market for chocolate in India

The market for chocolate in India has come a very long way. Cadbury is not the only brand that consumers are aware of today. India has started importing high quality cocoa in the past few years. The demand for this commodity is growing at good 15 percent and is only expected to grow further and faster in the years to come.

According to TechSci Research, the Indian market for chocolate will grow at a Compound Annual Growth Rate of 18 percent in terms of value.  In the past five years, the per capita chocolate consumption has increased from 40 grams to 120 grams, which is massive.

The leaders in market sales of chocolates are Cadbury and Nestle. However, consumers have now also taken a liking towards dark and bitter chocolate, which has led rise to other brands coming to the foreground as well. Consumers also prefer good quality homemade chocolates or custom-made chocolates.  The sales have drastically increased in all segments of chocolates like dark chocolate, milk chocolate and white chocolate.

Consumers are also now using chocolates during festive season for gifting purposes. This trend has further boosted the overall sales and demand of chocolate during festivities. According to Reuters, various companies across India have plans to increase the production of chocolate domestically.

Market Size

Way back in 2008, the market size for the chocolate industry was 30,000 tones. Chocolate bars account for 37 percent of the market volume. The count segment, with Perk and Kitkat, account for the next 30 percent. This segment is rapidly growing with the passing years. The next 10 percent is accounted by the panned chocolates.  Certain research also states that in the year 2016, India alone has consumed 228,000 tones of chocolate.

Trends

Although a majority of population prefers milk chocolates in India and it is still the strongest segment of the market, recent exposure to the western trends has brought the concept of other varieties of chocolates too. Now, the market is flooded with various ranges of chocolates including premium and dark chocolates. Bigger players like Cadbury and Nestle have brought in new varieties of chocolate products. Consumers are now open to trying other types too.

Opportunity

Indians are major chocoholics. Two in every five Indian consumers like chocolates for snack and energy.Forty three percent of Indians consume chocolate as a snack in between meals.As Indian consumers are open to a wider range and variety of chocolates, the chocolate industry has a lot of potential for growth in the years to come.

For budding entrepreneurs, there are many good opportunities in this business. Consumers are now taking a lot of interest in buying a range of varieties of homemade chocolates. There are also many other niche products that one can create from chocolate using unique recipes. With the right training, this can soon become a booming business.

India has become one of the fastest growing markets for chocolate due to the changing lifestyles and a growing tendency for indulgence. The constant growth in population, new market trends and innovation drive the growth in this industry. The increase in demand is not completely met, neither globally or locally, due to the deficient supply.

Conclusion

Chocolate is a very popular commodity for various purposes like gifting, cooking and consumption. Small businesses produce unique and special chocolates while the larger players focus on large-scale production. The demand for chocolate is growing and it will only increase moving forward.

Therefore, it is safe to say that the chocolate industry has great potential for every one willing to be part of it. There are huge opportunities for both large companies and small business owners as it is almost impossible to satiate the desire for chocolate in consumers.

Is Chocolate Business Really Good Business?

chocolate business

The consumption of chocolate has increased in last few years due to its demand in various occasions like marriage anniversaries, birthday party, Valentine’s Day and providing a special treatment to near and dear ones. It is the best gifting item and due to the health benefit, the trend of gifting it is increasing.

It is now a trend to enjoy a chocolate party and add pleasure to the celebration. The history of chocolate business exists from the time of cultivation of cocoa dates where they were shared during the marriages. Since then, there is a unique change in the mindset of consuming chocolates across the world and demand of a variety of chocolates.

With the demand of modern time to earn an extra income, people are looking for some additional work and business that can be operated easily from the comfort of home. For such people, chocolate business has emerged as the bright opportunity to have their own boss and earn a high income by working from home for few hours.

Before entering this business, you need to find the suitable answer to ‘Is chocolate business really good business’. For this, you can consider reviewing the performance of the existing chocolate business in Asia and in the world. Understand their way of working and trends in the demand. Currently, this industry is experiencing 13% growth each year across the world.

There is a change preference that has experienced in last few decades in cities and even among the middle class. Chocolate is now the part of every individual’s personal life. Thus, the future of chocolate business is bright and will defiantly provide a high earning income.

Chocolates make us excited by tempting senses and arousing passions and people with great ideas turn this opportunity into money making adventure. They are best used as a dessert in dinner parties even on normal days.

If you are passionate about chocolates and have creativity, then this is the right time to learn more about the chocolate business from a reputed academy like CSDO and enter into this business. The training will also enhance your understanding of the scope, future, benefit, support in setting up, managing contacts and entering different markets of the world. With so many benefit associated with the training and support to the chocolate business, it is the right time to enter into this high growth business option.

If you are eager to enter into this business, then at the initial stage make sure to enter into a small business and then gradually invest to grow it big. Make sure to put resources where they are best used and have the confidence to operate this business.

Bring a unique chocolate recipe and see how the chocolate business will be the turning point of your life. There is never too late to take the right decision. With the high possibility of the growth and earning opportunity, enter into the chocolate business and see how it can really be a good business for new talents and energetic people.

 

How to Start Your Own Chocolate Business?

Chocolate Making

If you are all set to channelize your passion towards chocolates into the business opportunity then here is a complete detail on how to start your own chocolate business. Just stay updated with the changing trends and see what new you can provide to the market.

You also need to be well aware of the taste of the consumers and try meeting their expectations with new chocolates. You need to be creative in packing, adding flavours, promotional ideas, etc.

Here is a complete guide on the steps that you require taking to successfully start a chocolate business.
  • Organise chocolate business: Make sure to decide on the type of business, nature and arrange for necessary insurance, office and production space.
  • Decide on the production line: Decide on the types of flavours and variety in the chocolates your produce. Prepare a complete menu of the chocolates and math it with the market demand.
  • Make effective promotional plans: Make sure to have different promotional plans for special days like Birthday, Valentine’s Day, Mothers Day, etc. Make effort to create a regular customer base and serve them.
  • Purchase modern and advanced chocolate making equipment: For a high quality and efficient production, you need to get the right equipment for production like cooking, mixing and cooling equipment.
  • Get license and approval: Get the necessary legal approval from the health department and licence to commence this business from your home.
  • Select the right and attractive packaging materials: Packaging is the best way to attract customers. An attractive packaging is required to increase enter in any market and increase demand of chocolates among consumers.
  • Check the market with demo batch: Introduce little variety of chocolates in an attractive packaging and check its demand and customers reaction to understand the market demand for chocolates.
  • Make sure to become the member of the chamber of commerce: This is the right way to attend seminars and the business expo to provide a broader platform for business promotion.

When you consider all such factors and make proper planning, you will definitely emerge as the successful business person in the chocolate industry.

If you are new, you can join our chocolate making course for better knowledge, we will also provide you free consultancy how can you start your own chocolate making business.