The Indian chocolate market is seeing a shift in tastes, with imported chocolates gaining market share.
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Mars and Snickers have increased in popularity among younger consumers, Sadashiv Nayak, CEO of Food Bazaar, told just-food.
“The sale of imported chocolates is double the sales of domestic brands… [and] growing in the triple digits. Imported brands offer newer chocolate formats to consumers, resulting in higher demand.”
Managing director Cadbury India Anand Kripalu told just-food that in spite of intense competition the confectionery giant is looking to grow the Indian market.
“We have been able to hold on to our 70% market share. Chocolates are not consumed on daily basis; we are working towards positioning chocolate more towards regular consumption rather than for special occasions only.”
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By GlobalDataFood Bazaar, a subsidiary of the Pantaloon retail, recently pulled Cadbury chocolates off their shelves and refused to renew contracts with the company.
