Chocolate makers have sweet-loving Indians in their sights – MENAFN.COM

SourceMENAFN
SectorRetail
CountryGulf

(MENAFN - NewsIn. Asia) India, April 1 (Bloomberg) - India has long been known for its love affair with sugar. Sweets play a major role in festivals and family celebrations and delicacies such as gulab jamun — fried dough balls soaked in syrup — and barfi — made with condensed milk — are popular gifts. Not only is the country the world's biggest consumer of sugar, it's also one of the top producers.

That penchant for sweet confections together with a massive, youthful and increasingly affluent population has chocolate-makers around the world sitting up and taking notice. Indians currently eat only about a 10th as much chocolate confectionery as the global average and the International Cocoa Organization recently described the country as the No. 1 potential market of the future. Chocolate — as well as ice cream, cakes and milk shakes — is already starting to displace traditional treats among the middle classes. No longer just something to be given at special occasions such as weddings or the Diwali festival, it's becoming an everyday snack for many Indians. The country's chocolate market was estimated to be worth 172 billion rupees ($2. 3 billion) in 2019 and will grow by 6. ...read more...