CHOCOLATES-MARKET SURVEY

BY: PRATHAMESH KUDALKAR

13FET1011

MARKET SHARE

• India is among the fastest growing chocolate market in the world with compound annual growth rate (CAGR) of about 25% (Commodityonline2013)

• Increased convenience of premium chocolates and budding taste for dark chocolates aided with higher purchasing power will lead to further development of the market.

MARKET SIZE

Volume

• 55,000 tons in 2008 : Mintel, 2012

• 88,000 tons in 2011: Mintel, 2012

Gross Sales

• 2612 crores in 2008: Mintel, 2012

• 5356 crores in 2011: Mintel, 2012

Global Chocolate Scenario

• Estimated at $83 billion.

• CAGR of 2.7%

Major Players in Global Market

• Mondelez, Nestle, Mars, Hershey, Ferrero, Lindt

CONSUMPTION PATTERN

• Urban areas account for

about 80% of total chocolate

consumption in India.

• Demand for chocolates

shoot up by about 35%

during the festive season.

• Considerable increase in

sale is observed

immediately after successful

advertisement campaigns.

• Rural potential yet to be

tapped

Chocolate Consumption

Western-40%

Norther-23%

Southern-22%

Eastern -15%

WAFERS WITH CHOCOLAYERS

Mfg By: Nestle

Ingredients:

Wheat flour, Sugar, Hydrogenated Veg. Fats (contains sesame oil), Milk solids, Cocoa solids(3.4%), Antioxidant(Soy Lecithin), Leavening Agent[500(ii)], Yeast, Salt, Nutrient(Calcium sulphate), Artificial Vanilla flavouring, Enzyme

Mfg By: Mondelez

Ingredients:

Sugar, Hydrogenated Veg. Fat, Wheat flour, Milk Solids, Glucose(5%), Cocoa Solids, Starch, Emulsifiers(442, 322,476, 492), Edible Veg. Oil, Salt, Yeast, Permitted Natural Color(150c), Vanilla Flavouring.

Mfg By: Gandour

Ingredients:

Sugar, Edible Vegetable Fat(Palm), Glucose syrup, Cereals, Milk Solids, Wheat flour, Cocoa Solids, Emulsifiers (E322, E471, E476), Salt, Malt Extract, Raising Agent (Sodium Bicarbonate), Permitted Natural Colors and Flavors.

PARAMETER MUNCH PERK SAFARI

Energy (Kcal) 50 84 73

Protein (g) 0.8 (3.2) 0.6 (2.4) 0.6 (2.4)

Carbohydrates (g) 6.9 (27.6) 10.9 (43.6) 10 (40)

Total Sugar (g) 3.9 7.7 6

Total Fat (g) 2.2 (19.8) 3.9 (35.1) 3.2 (28.8)

Saturated Fat (g) 1.8 <25% wt./wt 1.4

Trans Fat (g) <0.05% <0.2% 0.9

Sodium (mg) 14.8 8 15

Fibre (g) 0.3 0.2 -

Serving Size (g) 10.1 16 15

Price (Rs.) 5 5 5

Calculated Energy (Kcal)

3.2+27.6+19.8=50.6 2.4+43.6+35.1=81.1 2.4+40+28.8=71.2

CARAMEL CENTRE CHOCOLAYERS

Mfg: Nestle

Ingredients:

Nougat +Caramel (75%)

Liquid glucose, Sugar, Hyd. Veg. Fats, Golden Syrup, Malt extract, Cocoa Solids, Hydrolysed milk protein,Emulsifiers(471 & Soya Lecithin),Salt

Chocolayer(25% )

Sugar, Hyd. Veg. Fats, Milk Solids, Cocoa Solids and Emulsifier(Soya Lecithin)

Mfg: Mondelez

Ingredients:

Nougat + Caramel(64%)

Liquid glucose, Sugar, Invert Sugar, Edible Veg. oil, Cocoa Solids, Milk Solids, Hydrolysed Veg. Protein, Salt, Emulsifier(442, 476)

Milk Chocolate(36%)

Sugar, Milk Solids, Cocoa Butter, Cocoa Solids, Emulsifier(442, 476)

Mfg: SK Industries

Ingredients:

Nougat + Caramel(66%)

Liquid Glucose, Sugar, Edible Veg. Fats, Milk Solids, Invert Sugar, Malt extract, Cocoa Solids(1.5%), Emulsifiers (420, 471,322), Salt

Chocolayer (34%)

Edible Veg. Fats, Milk Solids, Cocoa Solids(2.5%), Emulsifiers(INS 322,476)

PARAMETER BAR ONE 5 STAR CHOC ON

Energy (kcal) 96 98 92.24

Protein (g) 1.2 (4.8) 0.8 (3.2) 0.94 (3.76)

Carbohydrate(g) 15.6 (62.4) 16.8 (67.2) 12.85 (51.4)

Total Sugars (g) 12.2 12.5 6.86

Total Fat (g) 3.2 (28.8) 3.1 (27.9) 4.12 (37.08)

Saturated Fat (g) 2.4 <9% 3.54

Trans Fat (g) <0.1% <0.1% <0.1%

Sodium (mg) 17.3 35 -

Fibre (g) 0.4 0.6 -

Serving Size (g) 22 22 20

Price (Rs.) 10 10 10

Calculated Energy(kcal)

4.8+62.4+28.8= 96 3.2+67.2+27.9=98.3 3.76+51.4+37.08= 92.24

DARK CHOCOLATE

Mfg: Amul

Ingredients:

Sugar, Cocoa Butter, Cocoa Solids, Emulsifiers(322, 476), Contains added Cocoa and Vanilla(Artificial) flavouring substances.

Mfg: Schmitten

Ingredients:

Sugar, Cocoa Solids, Cocoa Butter, Emulsifiers(Soya Lecithin), Crushed Vanilla beans, Contains added Natural Vanilla flavor

Mfg: Mondelez

Ingredients:

Sugar, Cocoa Solids, Cocoa Butter, Emulsifiers (442,476),, Contains Nature Identical flaovouringsubstances

PARAMETER AMUL DARKCHCOCLATE

SCHMITTEN DARK CHOCOLATE

CADBURYBOURNVILLE

Energy (Kcal) 561 551.8 525

Total Fat (g) 33 (297) 33 (297) 27.3 (245.7)

Saturated Fat - 19.7 17.2

Carbohydrates (g) 59 (236) 56.8 (227.2) 65.3 (261.2)

Total Sugar(g) 43 55.4 53.7

Protein (g) 7 (28) 3.2 (12.8) 4.6 (18.4)

Fibre (g) - 4.2 7.3

Sodium (mg) - 11 5

Serving Size (g) 35 35 33

Price (Rs.) 20 40 40

Calculated Energy (kcal)

297+236+28=561 297+227.2+12.8=537 245.7+261.2+18.4=525.3

PACKAGING/SHELF LIFE/STORAGEWafers with Chocolayers

Caramel Centre Chocolayers

Dark Chocolates

Packaging Flow-wrap type.Aluminum foil is laminated with wax to the paper substrate

Flow-wrap type.Aluminum foil is laminated with wax to the paper substrate

Chocolate is wrapped in thin aluminum foil which in turn is packed in paper boxes or Plastic wrap

Shelf Life 6-12 Months 6-12 Months 9-12 Months

Storage Store in a cool and dry place. Avoid direct sunlight.

Store in a cool and dry place. Avoid direct sunlight.

Store in cool and dry place. Preferably less than 15C

Allergen Information

Contains Milk. Contains Milk. May contain traces of nuts

Mfg. on equipmentwhich also processes milk and nuts

CONCLUSION• The Chocolate Industry in India is growing astounding

rate of 25% per annum.

• In Chocolayers category, Munch is found to have the best taste while Perk provides more energy in line with their claim of providing energy.

• In filled chocolate category, all the brands were found to be competitive without significant differences in products.

• In Dark chocolate category, Amul was rated the best by a survey conducted by Ministry of Consumer Affairs. Schmitten is found to have better feel and taste.

• Indian brands were found to disclose lesser information when compared to MNCs.

THANK YOU!