By January 10, 2015 0 Comments Read More →

Confectionery Industry brings sweet business deals

Call it the product innovations on a regular interval or value-additions or launch of new products, confectionery market in India is getting saccharine over the past few years. Where people in western countries are more calorie-conscious, Indians believe into starting the day by having some sweet.

Manufacturers were influenced to earn through the high level of demand and intensify their product range. For instance, Dabur extended its popular brand Hajmola with the launch of Hajmola Chuzkara, Natkhat Amrud variant.
One of the leader of confectionery industry in India, Perfetti Van Melle, expanded its basket of Alpenliebe’s brand by launching Alpenliebe Spicey 1, spicy chilli and sweet mango in one tangy candy in the year 2013.

Confectionery product manufacturers introduced cereal bars also for the health-conscious category people, which are amongst the steadily growing product in the Confectionery products category, even while candies, jelly, caramels, toffees and the similar items continued to be on top place.

 

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What is driving the Industry

  • The Growing Gifting Culture
  • Low Per Capita Consumption of Confectionery
  • Rapid Urbanization
  • Growing Retail Market
  • Growing Income and Consumption
  • Developing Rural Sector
  • Marketing Campaigns Trends

Challenges the industry is facing

  • Rise in Ingredient Prices
  • Rise in Packaging Costs
  • Regulatory Challenges
  • Growing Health Concerns

As observed by experts, there is great scope for growth in the untapped rural market. Taking everything into account, confectionery market will continue to evolve and expected to touch INR 400 Crore in 2018.

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