Sat. Nov 23rd, 2024

India Confectionery Market Share 2024: Segment Breakdown, Key Players, and Trends

The confectionery market in India continues to flourish in 2024, driven by growing consumer demand, evolving tastes, and expanding distribution networks. The market share of various confectionery categories, including chocolates, sugar confectionery (candies, toffees, and mints), and gum, is shaped by consumer preferences, product innovation, and competitive strategies from major players. In this article, we explore the market share distribution in 2024, the key companies dominating the space, and the trends influencing the market.

 

Market Share by Segment

India’s confectionery market in 2024 is segmented into three primary categories: chocolates, sugar confectionery, and gum. Among these, the chocolate segment holds the largest share, accounting for over 45% of the total market. The demand for chocolates has soared due to the increasing inclination toward premium products, dark chocolates, and the ongoing expansion of artisanal and healthier chocolate options.

Sugar confectionery, which includes candies, mints, and toffees, makes up around 35% of the market. This segment caters to a broad audience, from children to adults, and is characterized by both mass-market and niche products. Consumers continue to gravitate towards traditional favorites as well as innovative flavors that blend Indian and Western tastes.

The gum segment, though smaller, holds around 15-20% of the market share. This category is largely driven by the popularity of functional gums, which offer benefits such as fresh breath, dental health, or energy-boosting properties. Chewing gum brands are focusing on innovative product formulations to attract health-conscious consumers, which is expected to sustain this segment’s market share.

Key Players and Competitive Landscape

The India confectionery market is highly competitive, with both domestic and international players vying for market share. Some of the major companies dominating the market include:

  1. Mondelez India: The leader in the chocolate segment, Mondelez India, with its flagship brand Cadbury, commands a significant share of the overall confectionery market. Cadbury Dairy Milk, 5 Star, and Bournville are household names and have cemented Mondelez’s position in the premium and mass-market segments alike.
  2. Nestlé India: With brands like KitKat and Munch, Nestlé holds a strong foothold in the chocolate segment. The company’s strategy of launching limited-edition products and experimenting with flavors helps them capture a broader audience.
  3. Perfetti Van Melle: Known for popular sugar confectionery brands such as Alpenliebe, Mentos, and Center Fresh, Perfetti Van Melle holds a significant share of the sugar confectionery and gum segments. The company continues to innovate with flavors and packaging to maintain its lead in the competitive space.
  4. Mars Wrigley: A major player in both the chocolate and gum segments, Mars Wrigley’s brands, including Snickers, Galaxy, and Orbit, hold a considerable share of the market. The company is well-positioned to compete in the premium chocolate space and functional chewing gum categories.

Trends Shaping Market Share in 2024

One of the major trends influencing market share in 2024 is the growing demand for premium and healthier confectionery options. Consumers are increasingly seeking indulgent, high-quality products, pushing companies to focus on premiumization. Brands that cater to this demand, particularly in the chocolate segment, are expected to gain market share.

The rise of health-conscious consumers is another key trend. As people become more aware of the health risks associated with high sugar consumption, there is a growing demand for low-sugar, sugar-free, and functional confectionery products. Companies that offer healthier alternatives without compromising on taste are seeing growth, especially in the gum and sugar confectionery segments.

For More Info: –   https://www.gmiresearch.com/report/confectionery-market-india-analysis-industry-research/

Conclusion

In 2024, the India confectionery market is dominated by chocolates, which continue to hold the largest share due to their widespread appeal and premiumization trends. Sugar confectionery and gum also command notable portions of the market, with innovation and consumer preferences playing pivotal roles in determining market share. With major players like Mondelez, Nestlé, and Perfetti Van Melle leading the charge, the competition remains fierce. As the market evolves, companies that focus on premium products, health-conscious options, and innovative flavors are likely to strengthen their positions and capture a larger share of the thriving confectionery market in India.

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