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1. Branded Chocolate Market – India
May 2017
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2. Branded Chocolate Market in India 2017
Executive Summary
Market Overview
Drivers and
Challenges
Trends
Competitive
Landscape
• The branded chocolate market is projected to grow at a CAGR of 17.2% to reach INR x bn by FY 2022 from INR x bn in FY 2014
• The industry has a positive outlook due to exceptional growth in the confectionery industry, rising per capita income and prevalence of a gifting culture
in the country
• Mondelez, Nestle and Ferrero are the leading players in the Indian chocolate market
• Over the years, changes in consumers' preferences and lifestyle, eating habits, and their global exposure to international brands have given a boost to
the chocolate industry
Drivers
• Tradition of Gifting Chocolates
• Shift in Consumer Preference
• Increasing Disposable Income
Challenges
• High Barriers of Entry
• High Excise and Import Duties
• Craze for Imported Chocolates is Witnessing an Upward Trend with Urban Population Asking for Premium Variants
• Health Benefits Associated with Dark Chocolates Serve As a Powerful Reason for Its Demand
• Increasing Demand for Chocolate Boutique and Designer Chocolates
• Demand for Healthy Options of chocolates
• Entry of New Retailers and Confectioners
Major Players
ITC Ltd. Lotus Chocolate Company Ltd. Nestle India Ltd.
Gujarat Cooperative Milk
Marketing Federation Ltd.
Mars International India Pvt. Ltd. Mondelez India Foods Pvt. Ltd. Parle Products Pvt. Ltd The Campco Ltd.
2

3. 3
Socioeconomic Indicators
Market Overview
Market Influencers
Competitive Landscape
Recent Developments
Appendix
Trade Analysis
Market Trends
Government Initiatives

4. Branded Chocolate Market in India 2017
Socioeconomic Indicators
Total Population
4
Population Density
1,000
500
1,500
0
mn
2019 2020
X%
2010 201820172012 2013 2015 20162011 2014
0
100
200
300
400
500
2015 2016 2017 2018 2019 2020
X%
2010 2011 2013 20142012
Persons per sq. km

5. Branded Chocolate Market in India 2017
Market Definition & Structure
5
Market Definition
• Chocolate is a food in the form of a paste or solid block made from roasted and ground cacao seeds
• It is sweet and is eaten as confectionary
• xx
• xxSemisweet Chocolate
• xxBittersweet Chocolate
• xx
Unsweetened
Chocolate
• xxMilk Chocolate
• xxWhite Chocolate
• There are other types of chocolates such as compound chocolate, raw chocolate, couverture chocolate, cocoa powder, Gianduja chocolate and candy coating chocolate
• Cocoa beans form the basis of chocolate, which are seeds from the fruit of cacao tree
 xx

6. Branded Chocolate Market in India 2017
SAMPLE
Market Definition & Structure (Contd.)
6
Confectionery Market
xx xx
xx Chocolate Based xx

7. Branded Chocolate Market in India 2017
Cocoa Bean Processing
7
Cocoa Beans
xx
xx
xx
xx
xx
xx
xx
xx
xx
xx
xx
xx
Creates Cocoa
Powder

8. Branded Chocolate Market in India 2017
Manufacturing Process
8
Chocolate Manufacturing Process
Step 1
Step 4
xx
xx
xx
xx
Step 3
Step 2
Step 6
xx
xx
Step 5
xx
xx
Step 7
Step 8

9. Branded Chocolate Market in India 2017
Market Overview
9
Market Size & Growth Forecast
0
50
100
150
200
250
INR bn
X%
FY 2022eFY 2021eFY 2020eFY 2019eFY 2018eFY 2017eFY 2016FY 2015FY 2014
• In India, the branded chocolate market is projected to grow at a CAGR of x% to reach INR x bn by FY 2022 from INR x bn in FY 2014
• The industry has a positive outlook due to exceptional growth in the confectionery industry, rising per capita income and prevalence of a gifting culture in the country
• xx
Current Market Scenario

10. Branded Chocolate Market in India 2017
Market Segmentation
10
• In 2014, Mondelez India, with x% market share, was the market leader of India’s chocolate pack
• With brands ranging from economically priced ‘Perk’ to premium brands (premium refers to those product
whose price is INR 100 and above), such as ‘Bournville’, Mondelez has a varied portfolio
• xx
Player-Wise Segmentation (2014)
Product-Wise Segmentation
Amul
Ferrero
Nestle
Mondelez
Others
Mars
• The chocolate industry in India can be segmented on the basis of amount of cocoa
present in the chocolate which is used to produce the chocolates
• Milk chocolate is the most popular category
• xx
Dark Chocolate
White Chocolate
Milk Chocolate

11. Branded Chocolate Market in India 2017 11
Branded Chocolates – Value Chain
xx
xx
xx
Farm Inputs
Product
Development
Packaging
and
Distribution
Consumer
xx
xx
xx
xx
xx
xx
xx
Value Chain Analysis

12. Branded Chocolate Market in India 2017
SAMPLE
Porter’s Five Forces Analysis
12
• The threat of substitutes in the branded
chocolate industry is moderate
• xx
• There are many buyers in the branded
chocolate industry
• xx
• Numbers of suppliers are increasing
• xx
• New companies find it difficult to enter the
market as there are already well
established companies operating in this
market
• xx
Competitive Rivalry
• Companies compete with each other on the basis
of advertisement strategy, price differentiation
and range of products offered
• xx
Bargaining Power
of Suppliers
Threat of New
Entrants
Bargaining Power
of Buyers
Threat of
Substitutes

13. Branded Chocolate Market in India 2017
SAMPLEExport : 34011942
13
Export (Value)
0
50
100
150
200
250
300
INR mn
X%
FY 2017 (Apr-Nov)FY 2016FY 2015FY 2014FY 2013
Export (Volume)
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
mn Kgs
X%
FY 2017 (Apr-Nov)FY 2016FY 2015FY 2014FY 2013

14. Branded Chocolate Market in India 2017
SAMPLE
Export Segmentation: 34011942 – Country-Wise
14
Exports: Value-Wise Segmentation
Exports: Volume-Wise Segmentation
Others
Country 6
Country 5
Country 4
Country 3
Country 2
Country 1
Others
Country 6
Country 5
Country 4
Country 3
Country 2
Country 1
Others
Country 6
Country 5
Country 4
Country 3
Country 2
Country 1
Others
Country 6
Country 5
Country 4
Country 3
Country 2
Country 1
FY 2015
FY 2015
FY 2016
FY 2016

15. Branded Chocolate Market in India 2017
Market Drivers
15
• In India, gifting and feasting on sweets is an embedded tradition
 Earlier, sweets were the only option in delicacy gifting
• xx
Tradition of Gifting Chocolates
• xx
• xx
• xx
• xx
Convenience
Accessibility
Premium
Appeal
Hygiene /
Longer Shelf
Life

16. Branded Chocolate Market in India 2017
Market Drivers
16
• India is one of the most attractive consumer markets in the world with xx% of the global population
 Increase in purchasing power and rising influence of advertisement has attracted Indian consumers to splurge on confectionery
• xx
Increasing Disposable Income
0%
20%
40%
60%
80%
100%
2030e2020e2015
Aggregate Consumption (mn households)
Category Income Bracket (INR)
Globals x
Strivers (x)
Seekers (x)
Aspirers (x)
Deprived x
Deprived
Aspirers
Seekers
Strivers
Globals

17. Branded Chocolate Market in India 2017
Government Initiatives
17
Prevention of Food Adulteration Act 1954
• This act was promulgated by Parliament in 1954 in order to make provision against adulteration of food
• xx
• Objective
 xx
• Concept of Adulteration
 An article of food is termed adulterated if it is :
 xx

18. Branded Chocolate Market in India 2017
Market Trends
18
Demand For Healthy Options
• Presently, consumers want light, healthy as well as lower calorie options in chocolates
• Owing to pressing demand from consumers, players are coming up with innovation and different product variants
• xx
Innovation Being Processed Over Recent Period
2005
xx
• xx • xx• ‘xx• xx • xx
xx
2007 2008 2009 2010
• xx • xx
20162013
xx
• xx
2017
xx

19. Branded Chocolate Market in India 2017
Competition
19
List of Major Players
Name Website
Company 1
Company 2
Company 3
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10

20. Branded Chocolate Market in India 2017 20
Company Information
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Business Description
• xx
Public: Domestic Company – Company A
Products and Services
Category Products/Services
xx xx
xx xx
xx xx
xx xx
Key People
Name Designation
Person 1 Chief Executive Officer
Person 2 Chief Operating Officer
Person 3 Head – Operations
Person 4 Chief Marketing Officer

21. Branded Chocolate Market in India 2017 21
Key RatiosFinancial Snapshot
Key Financial Performance Indicators
Indicators Value
Market Capitalization (INR mn)
Total Enterprise Value (INR mn)
EPS (INR)
PE Ratio (Absolute)
Particulars 2013 2014 2015 2016
Profitability Ratios
Gross Margin %
Net Income Margin %
EBITDA Margin %
EBITA Margin %
EBIT Margin %
Return on Assets %
Return on Capital %
Return on Equity %
Return on Common Equity %
Liquidity Ratios
Current Ratio
Quick Ratio
Leverage Ratios
Total Debt/Equity
Total Debt/Capital
Interest Coverage
Efficiency Ratios
Total Asset Turnover
Fixed Asset Turnover
Accounts Receivable Turnover
Inventory Turnover
Net Profit / LossTotal Income
x
z
x
c
d
e
a
b
c
d
e
f0
y
FY 2016FY 2015FY 2014FY 2012
Public: Domestic Company – Company A (Contd.)

22. Branded Chocolate Market in India 2017 22
Key Business Segments Key Geographic Segments
0%
20%
40%
60%
80%
100%
FY 2015FY 2014FY 2013 FY 2016
Segment 3Segment 2Segment 1
0%
20%
40%
60%
80%
100%
2016FY 2015FY 2014FY 2013
Country 1 Country 2
Public: Domestic Company – Company A (Contd.)

23. Branded Chocolate Market in India 2017 23
Company Information
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Business Description
• xx
Private: Domestic Company – Company B
Products and Services
Category Products/Services
xx xx
xx xx
xx xx
xx xx
Key People
Name Designation
Person 1 Chief Executive Officer
Person 2 Chief Operating Officer
Person 3 Head – Operations
Person 4 Chief Marketing Officer

24. Branded Chocolate Market in India 2017
Recent Developments
24
Date Category Description Impact
Feb 22, 2017 Collaborations & Partnerships Low
Feb 01, 2017 Product Launch Low
Dec 19, 2016 Regulatory High
Dec 15, 2016 Regulatory Medium

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