Chocolate is a commodity that necessitates a number of steps to manufacture. Harvesting coca, processing coca into cocoa beans, and shipping the cocoa beans to the manufacturing factory for washing, coaching, and grinding are all part of the process. These cocoa beans will then be imported or exported to other countries, where they will be processed into various types of chocolate.
The chocolate and confectionery products industry has always experienced major demand fluctuations. Chocolate goods are typically seasonal in nature, with demand peaking during the holidays. Chocolate and confectionery items appeal to people of all ages because of their appealing look and colour. Demand has also been influenced by a number of market trends. Varieties of products have gained popularity in recent years as a result of their delicious taste and longer shelf life.
Some of the most common treats are chocolate, candy, and gum. For thousands of years, people have enjoyed these sweets all over the world. Digging honey from beehives gave early man a taste for sweets. Several forms of real candy can be traced back to the Egyptians 3,500 years ago. In 17th century Europe, boiled candies became popular. By the mid-nineteenth century, there were over 380 candy factories in the United States.
Candy, gummies/jellies, hard candy, toffee, and fudge are all examples of confectionery. Convenience, passive health, age, choice, and enjoyment are the most common reasons for buying. Brown flavours, berries, nuts, mints & menthols, and dairy flavours are the most common flavour categories. Cadbury, Nestle, Kraft, Lindt, and Mars are the top five confectionery firms. The key flavonoids present in cocoa and chocolate are flavanols. Flavonoids have been discovered to have a variety of beneficial physiological and antioxidant effects in recent years of research. Flavonoids are compounds present in tea, red wine, and grape juice, as well as fruits, vegetables, and some beverages. Cholesterol is not present in chocolate. Cocoa and its constituents (cocoa solids and cocoa butter) are not known in the diet as a source of Trans fat.
Milk chocolate, white chocolate, citric flavour candies, citrus flavour candies, tangy flavour candies, hard candy, fudge, toffee, milk pill, liquorices, jelly candies, marshmallow peeps, marzipan sweets, divinity, chewing gum, and so on are all examples of confectionary products. Chocolate and confectionary goods need vast quantities of raw materials to prepare and produce. Simple food colours, blended food colours, lake colours, natural food colours, food additives, spray dried coated powder flavour, soft drink concentrates, baking powder, icing sugar, coco powder, and natural gums are only a few of the options.
Children's favourite foods are chocolates. Its main characteristic is that it is solid at room temperature (20-25°C) but melts quickly in the mouth at 37°C, resulting in a liquid that is smooth on the tongue. Toffee and sweets are used as a smooth refresher during meals and dinners. It freshens the air and removes unpleasant odours from the mouth. It can often produce a pleasant feeling when chewing. Typically, chocolate wafers are eaten as a snack. The multi-flavor chocolate wafer biscuit is more beneficial to people's diet and calorie consumption due to the inclusion of flavour layers and dried fruits. In India, the chocolate market is projected to be about 45,000 tonnes worth Rs 15.0 billion. The counter market is estimated to be worth Rs 5 to 7 billion, with chocolate bars accounting for the remainder. Sugar-boiled confectionery, mints, and chewing gums make up less than a quarter of the sweet-tooth items. Sugar confectionery is by far the most common category.
Chocolate manufacturers have been focusing on adult customers in order to boost sales. For the current target markets, chocolate is being presented as a snack food. Besides, India’s per capita chocolate consumption is having at about 100 gm & urban centres comprise 35% of the chocolate consumption in the country. The introduction of smaller editions was another technique considered. Growing at a CAGR of about 25%, the Indian chocolate industry is currently worth about 50 billion rupees and is expected to cross the Rs. 75 billion mark in the next few years, while the global chocolate industry is worth over USD 85 billion.
Cocoa, in particular, had a market size (volume) of 3,455,622 metric tonnes in 2013 and is expected to rise at a CAGR of 3.1 percent from 2014 to 2019. From 2014 to 2019, the chocolate market is expected to expand at a CAGR of 2.3 percent. By 2019, the global cocoa market is estimated to be worth USD 2.1 billion, and the global chocolate market will be worth USD 131.7 billion. The chocolate market in India is expected to expand at a CAGR of over 16 percent to $ 3.3 billion by 2023, making it one of the world's fastest growing markets for chocolates. Entrepreneurs who invest in this project will be successful.
Few Indian Major Players
· Gandour India Food Processing Pvt. Ltd.
· Inbisco India Pvt. Ltd.
· Joyco India Pvt. Ltd.
· Lotte India Corpn. Ltd
· Mondelez India Foods Pvt. Ltd.
· Perfetti Van Melle India Pvt. Ltd.