Chocolate Markets in China and India to See Positive Growth through 2020, Says SRI in Cutting-edge Report Available at MarketPublishers.com20 Jul 2016 • by Natalie Aster
LONDON – The world’s overall demand for chocolate is currently showing recovery and top suppliers expect stabilization of demand across the key geographical markets. In 2020, the US is likely to hold the dominant position worldwide in terms of chocolate consumption; it will probably be followed by Russia. Amid the BRIC nations, whilst China and India are projected to register robust chocolate market growth through 2020, economic conditions in Russia and Brazil are expected to hamper the chocolate market growth.
India and China are in the ‘four countries’ predicted to register the highest chocolate market growth rates through 2020.
The Indian chocolate market is currently worth around INR 7,000 crores; it is predicted to increase by 30% by 2020. Approximately a 70% share of the domestic chocolate consumption belongs to urban India. The growth of the rural chocolate market in India is inhibited by poor infrastructure, greater affinity for traditional Indian sweets and lack of cold storage facilities. Emerging trends in the Indian chocolate market include rising interest to dark and sugarless chocolate and increasing demand for premium chocolates.
The chocolate market in China has been hampered by the government corruption crackdown. In 2014, the per capita chocolate consumption in the country stood at just 0.2 kgs, while in India this figure was equal to 0.7 kgs. In the same year, the domestic chocolate sales were worth USD 3.2 billion. By 2020, the Chinese chocolate market sales are predicted to reach USD 4.4 billion.
The cutting-edge report “A Study of the Indo-China Chocolate Market 2016” worked out by Smart Research Insights (SRI) gives deep insights into the chocolate market landscape in India and China; it also offers details on the global market performance. The report contains indo on the historical and current market performance in India and China as well as outlines future growth prospects for these country-wide markets. The research study gives access to updated statistics on chocolate production, consumption, demand, supply and foreign trade in India and China and also scrutinizes the competitive landscape in these domestic chocolate markets.
Other reports by this publisher are provided at the SRI page.