Demand for luxury and premium imported chocolates is growing steadily in India, and the market is expected to register a significant increase in the holiday season and beyond, according to brands and retailers. In financial year 2023, India imported chocolates worth $27.84 million, reflecting an annual growth of 45%, according to Commerce Ministry data.
Karan Ahuja, co-founder of CocoCartomnichannel retailer and distributor of imported chocolates in India, told ET that half of its sales come from the premium chocolate category. He also mentioned that dark chocolates are considered a superfood by some, and the market is expected to undergo significant changes. In the next years.
Last year, CocoCart introduced renowned Italian brand Venchi to its offerings. Among Venchi's premium products available on CocoCart is its exclusive 54-piece chocolate cigar box, featuring a selection of assorted chocolate cigars weighing five kilograms, priced at Rs 64,995. Looking ahead to 2024, CocoCart is exploring the addition of Belgian and British brands such as Butlers, LeonidasGuylian and Cartwright & Butler to your collection. Sanskriti Gupta, spokesperson for the Swiss luxury chocolate brand Leather cover in India, revealed that Läderach, in collaboration with the DS Group, has ambitious plans to establish its presence in key Indian markets. The brand plans to open five to seven exclusive stores in cities like Mumbai, Bengaluru, Chennai, Hyderabad and Chandigarh over the next two years. Gupta also shared the price range of Läderach's offerings, which starts from Rs 1,050 for a 64-gram tablet and goes up to Rs 16,700 for a 72-piece box of pralines and truffles.
Gupta further shares that the 1 kilogram plate of Fresh chocolate is available for Rs 13,800. Our recent increase in sales, attributed largely to the festive, gift-giving and wedding seasons approaching the end of the year, was noteworthy, she noted. In India, per capita chocolate consumption is 140 grams, a notable contrast to the UK's 10 kilos. Globally, average consumption is around 900 grams, presenting substantial growth potential for the Indian market, she added.
Sumona Biswas, head of business at ROYCE' Chocolate, noted Japanese demand for the brand's limited-edition Christmas gift collection. She mentioned that there is a trend towards dark chocolate and unique combinations of chocolates and nuts. Biswas also highlighted the growing importance of Christmas and New Year as gift-giving occasions in India. Last year, ROYCE' Chocolate opened seven new stores in Bengaluru, Chennai and Ahmedabad.

Industry experts predict that demand for premium, organic, vegan, sugar-free and gluten-free dark chocolates will continue to drive the import of these products into India. Arvind Singhal, chairman and managing director, Technopak Advisors, said chocolates have become an alternative to traditional Indian sweets for many people during celebrations. In addition to finished chocolates, a substantial amount of raw cocoa is also being imported into the country for chocolate production.
Read from ET | Growth of imported chocolates in India
Pushpa Bector, Senior Executive Director, DLF Retail, mentioned the growing demand for premium products and luxury chocolates during the festive season and ongoing weddings. She revealed that DLF Retail plans to introduce ROYCE' at DLF Promenade in Delhi, in addition to the existing Läderach store at DLF Emporio.
Uzma Irfan, director of UB City, highlighted thriving sales of luxury chocolates towards the end of the year, driven by high demand for artisanal and single-origin varieties. Irfan mentioned that consumers are looking for unique flavors and hampers, and UB City is in touch with premium chocolate brands to cater to their chocolate lovers.



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