India Confectionery Market Shipment Analysis

India Confectionery Market registered a decline of -0.43% in value shipments in 2022 as compared to 2021 and an increase of 6.51% CAGR in 2022 over a period of 2017. In Confectionery Market India is becoming less competitive as the HHI index in 2022 was 1074 while in 2017 it was 935. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Confectionery Market.

India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of the Confectionery Market in 2022 was 0.11 while in 2017 it was 0.12. Bangladesh, China, Malaysia, Türkiye and Thailand were among the top players in the market in 2022, where Bangladesh acquired the largest market share of 21.06% with a shipment value of 6.16 million USD in 2022 Bangladesh also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 16.49% with the shipment value of 3.32 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge over another competitor in 2017.

India Confectionery Market Synopsis

India confectionery market is anticipated to grow at a CAGR of 7.3% during the period 2020-2026. The growth is mainly attributed to rising disposable income, changing lifestyles, and surging demand for healthy snacks by consumers. Additionally, the introduction of new product categories has also helped in boosting the India Confectionery Market Growth. The India confectionery market consists of products like chocolates, hard-boiled candies or lozenges, sugar confectioneries and others.

According to 6Wresearch, the India Confectionery Market is anticipated to grow over the forecast period. The market is growing and it is influenced by changing consumer preferences as the India confectionery industry is being evolved with a growing demand for innovative and unique flavours. Additionally, growing disposable income is allowing consumers to spend more on indulgent treats like confectionery products. Thus, propelling the market development to a great extent. Moreover, the rise of urban centres and modern retail formats has expanded the accessibility of confectionery products to a wider audience. Manufacturers are introducing new and innovative confectionery products to cater to health-conscious consumer segments.

Key Highlights of the Report:

India Confectionery Market Outlook
Market Size of India Confectionery Market, 2019
Forecast of India Confectionery Market, 2026
India Confectionery Market Trend Evolution
India Confectionery Market Drivers and Challenges
India Confectionery Price Trends
India Confectionery Porter's Five Forces
India Confectionery Industry Life Cycle
Market Opportunity Assessment By Type
Market Opportunity Assessment By Distribution Channel
India Confectionery Top Companies Market Share
India Confectionery Competitive Benchmarking By Technical and Operational Parameters
India Confectionery Company Profiles
India Confectionery Key Strategic Recommendations