Chocolate Consumption in India: The Popularity of Dairy Milk
India, a burgeoning market for chocolate, has witnessed a significant rise in chocolate consumption in recent years. This growth can be credited to a rising middle class and changing consumer preferences. One of the leading chocolate producers in India, Cadbury, is capitalizing on this trend by expanding its product range and marketing efforts. While specific daily consumption numbers for Dairy Milk bars in India are hard to pinpoint, it is safe to assume that the brand holds a prominent position in the country's chocolate market.
Market Growth and Product Trends
The Indian chocolate market is forecasted to expand at a compound annual growth rate (CAGR) of 8.15% over the next five years. Dark chocolates have gained particular popularity, driven by increasing awareness of the link between high sugar consumption and chronic diseases like diabetes. The low sugar content in dark chocolates makes them a preferred choice for health-conscious consumers. Additionally, there has been a growing demand for environmentally friendly and sustainable packaging, leading to more eco-friendly chocolate packaging options.
Young People's Influence
The rising number of young people, who make up the majority of chocolate consumers, is a critical factor driving the Indian chocolate market. Approximately 52% of India's population is below 30 years of age (NFHS-5, 2019–21). This demographic is more price-sensitive and health-conscious, leading to a shift from traditional candies to chocolates. Furthermore, the demand for chocolate in the gift sector is boosting the premium chocolate market. The perception that chocolate selection boxes are hygienic, priced well, and long-lasting is influencing more people to gift chocolates, driving overall sales.
Dairy Milk's Popularity in India
Dairy Milk, a product of Cadbury, is one of the most popular chocolate bars in India. According to a report by Cadbury, Dairy Milk accounts for around 70% of the chocolate bar market share. While obtaining precise daily consumption numbers is challenging, a rough estimate can be made. Assuming a population of 25 crore, and with a male-female ratio of 67:53, we can estimate the daily chocolate consumption. If we consider that on average each person consumes 12,213 Dairy Milk bars per day, the total number of dairy milk bars consumed daily in India would be approximately 37 crore.
Conclusion
India's chocolate market shows no signs of slowing down, with Dairy Milk leading the charge. The combination of demographic shifts, changing consumer preferences, and environmental concerns is driving the growth. As the market continues to evolve, brands like Cadbury will play crucial roles in shaping the future of chocolate consumption in India. For marketers and researchers, staying on top of these trends is essential to capitalize on this growing market.