AMUL - GCMMF ups the ante to emerge as the largest dark chocolate player in Indian Chocolate Market

Nov. 2, 2017 - PRLog -- Mondelez dominates the chocolate market in India, while Ferrero is the fastest growing company. Nestle is trying to regain its second position in the market with introduction of its global chocolate brands to India and further expanding portfolio. Mars and Hershey are also trying to grab a considerable share. While all these international players are intensifying their approach, domestic brand AMUL is now ready to take over all of them in the premium chocolate segment by launching a slew of dark and single country origin chocolates.

The Indian chocolate market (https://www.bonafideresearch.com/product/170120011/India-Chocolate-Market-Outlook,-2022) has been witnessing tremendous growth in terms of value as well as volume from the last five years. International players like Mondelez, Ferrero, Nestle, Mars, Hershey's, Lindt, etc. are ruling the domestic market since last many years. Premium category is growing significantly in the country as consumers are trading up to luxury chocolates. This has given an opportunity to many global brands to enter the Indian market and increase their presence by creating an affordable premium space for the aspirers. Mondelez India has been continuously losing its market share in the premium chocolate category since Ferrero made entry into India. However, it still dominates the mass chocolate market and it is tough to take over 'Cadbury' in this space. Apart from all these international players, there is only one domestic brand - AMUL - which has managed to make its presence felt in the last few years and is giving a tough competition to these global giants.

The Kaira District Co-operative Milk Producers Union Limited, which manufactures products for brand AMUL, has recently commenced trials of its new chocolate plant on October 25, 2017. The plant is located at the Tribhuvandas Food Factory at Mogar near Anand on 1.50 lakh square feet area and has a total investment of Rs 150 crore. This new plant is set to increase Amul chocolate's manufacturing capacity by five times i.e. from 4000 tonnes to almost 20,000 tonnes per annum. Nearly 40 types of new chocolates are planned to be manufactured at this plant; however the plant will be officially inaugurated after the Gujarat Assembly Elections get over in December 2017. Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets Amul, is looking to launch a slew of premium chocolates, especially dark chocolates.

According to recently published report (https://www.bonafideresearch.com/report_store) of Bonafide Research,"India Chocolate Market Outlook, 2022" (https://www.bonafideresearch.com/product/170120011/India-...), premium and luxury chocolate market is expected to reach a market size of almost Rs. 7000 crore in India by 2022. Looking at this huge market opportunity, AMUL has already launched single country origin chocolate ranges that include Peru, Venezuela and Tanzania. According to GCMMF, the brand is going to launch seven more country origin chocolates including that of Ghana, Madagascar, Ivory Coast and Ecuador among others.

For these single country origin chocolates, raw material like cocoa powder and cocoa butter is imported from these coco producing hubs. AMUL is getting remarkable response in these country origin chocolates and is set to emerge as the biggest player in the dark chocolate segment. There is great demand for dark chocolates which have less sugar and more cocoa taste, especially if the cocoa is from a specific country. With these new launches and enhanced capacity, GCMMF is eyeing sales worth Rs. 1000 crore from its chocolate business in the next two to three years. Although many international players have been entering the chocolate market of India, domestic players have also lately realized the opportunities lying in the premium chocolate segment. In 2014, Rajhans Group entered with 'Schmitten' whereas in 2015, Global Consumer Products (GCP) entered with a chocolate brand called 'LuvIt'. ITC with its brand 'Fabelle' and Parle with 'Friberg' were the latest entrants in 2016.

Major international companies (https://www.bonafideresearch.com/product/170120011/India-Chocolate-Market-Outlook,-2022) operating in the chocolate market of India are Mondelez India Foods Pvt. Ltd., Nestle India Limited, Ferrero India Pvt. Ltd., Mars International India Pvt. Ltd. and Hershey India Pvt. Ltd. Major domestic companies (https://www.bonafideresearch.com/product/170120011/India-Chocolate-Market-Outlook,-2022) operating in the chocolate market of India are Gujarat Cooperative Milk Marketing Federation Ltd., Lotus Chocolate Company Ltd., The CAMPCO Ltd., Parle Products Pvt. Ltd. and ITC Limited.

Report: India Chocolate Market Outlook, 2022 (https://www.bonafideresearch.com/product/170120011/India-Chocolate-Market-Outlook,-2022)

Base Year: 2016, Forecast Year: 2022

Pages: 115, Figures: 40, Tables: 50