Mad About Markets: Unwrapping the success story of India's chocolate industry

The entire confectionary space in India, which accounts for all the chocolate, hard-boiled candies, lollipops, eclairs, gums and mint, is worth about Rs 26,000 crore as per Euromonitor.

But chocolate is its biggest contributor at over Rs 5,500 crore as of 2022. It has grown from a little over Rs 12,000 crore in 2019 and is expected to almost double by 2027.

What's powering the chocolate train in India? Our growing population, shifting consumer tastes, and rising middle-class disposable income have been key growth drivers for the mass chocolate market and increasingly a fascination and love for international luxury brands, local artisanal brands, etc. clubbed with awareness of the health benefits of dark chocolate is also driving growth for chocolates.