MTECHTIPS

MTECHTIPS:-India Festive season: Chocolate demand to rise 35%

India’s steadily increasing chocolate consumption will get a boot in near term with the onset of festive season when consumption is expected to rise 35%, according to Association Chamber of Commerce and Industry (ASSOCHAM).The consumption of chocolates is steadily increasing in urban and semi urban areas, registering a compound annual growth rate (CAGR) of 25% and is expected to cross Rs 7,500 crore by 2015.The Indian Chocolate market is currently poised at over Rs 4,500 crore, according to an analysis of ‘Indian Chocolate Market’ by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).“Ahead of the festival, the demand of chocolates is increased by 35% than the last year in urban areas due to rising awareness about adulterated and high-priced traditional sweets available in the market”, said Mr. D S Rawat ASSOCHAM, Secretary General while releasing the findings of the chamber’s analysis.