India Cider Market Size, Share, Industry, Forecast and outlook (2024-2031)

India Cider Market is segmented By Product (Apple Flavored, Fruit Flavored, and Perry, Chocolate Confectionery, Bakers Confectionery), By Distribution Channel (Supermarkets & Hypermarkets, Bakeries, Convenience Stores, Online, Others), Market Share, Size, Outlook, and Opportunity Analysis, 2024-2031

India Cider Market Overview

The "India Cider Market" is expected to grow at a CAGR of 3.4% during the forecast period (2024-2031) 

The health benefits associated with chocolate products are driving the growth of the overall confectionery market. Dark chocolate is considered a healthy snack due to its nutrient content and its potential to lower the risk of heart disease. Furthermore, innovations in the market in terms of flavor and nutritional content are driving the market growth. Global confectionery manufacturers focus on developing confectionery products with flavours such as coffee, fruits, cinnamon, and different ingredients. The evolution of sugar-free, low-calorie products is likely to provide immense growth potential to the confectionery market across the globe.

India Cider Market Summary

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However, the rising consciousness among consumers towards sugar intake is the primary factor hindering the growth of the confectionery market. Sugar present in confectionery products is considered a leading cause of diseases such as Obesity and Diabetes. The rising prevalence of obesity and diabetes is limiting the consumer base for confectionery across the globe. According to the International Diabetes Federation (IDF), the global prevalence of diabetes among the adult population reached 425 million in 2017, and this number is likely to grow to 629 million by 2045.

Source has segmented the India Cider Market into sugar confectionery, chocolate confectionery, and bakers’ confectionery. The large market for hard candies worldwide made sugar confectionery the largest segment of India's Cider Market. Sugar confectionery is widely accepted and preferred by the population of almost all groups, and this segment is likely to hold its dominance in the market over the forecast period. In its recent press release, the United States Department of Agriculture stated that millennials and generation X accounted for nearly 50% of the candy sales in the U.S. in 2017. However, the growing demand for chocolate products owing to their low-sugar content and health benefits resulted in chocolate confectionery as the fastest-growing segment. Chocolate confectionery is likely to grow at a lucrative CAGR of over 6% during the forecast period. Supermarkets and hypermarkets evolved as the largest sales channel for confectionery products with a share of nearly 40% in terms of sales value in 2018. Bakeries and restaurants, convenience stores, and e-commerce are also holding a significant share in the sales of convenience products.

The study is segmented into North America, South America, Europe, Asia Pacific, Middle East, and Africa by geography.

Confectionery is a well-established market for decades in most American and European countries. The availability of cocoa and other confectionery ingredients made them the early adopters of sugar and chocolate confectionery products. Europe is the largest confectionery market with a share of over 35% in 2018, and it is estimated to hold its dominance over the forecast period. The large per-capita consumption of chocolate in countries such as Switzerland, the U.K., Sweden, Germany, and Ireland supports the growth of the confectionery market in Europe. However, Asia Pacific evolved as the fastest-growing market for confectionery products due to rising consumer spending and growing adoption of confectionery in countries such as India and China.

The India Cider Market is highly fragmented, with many players involved in a wide array of confectionery products. However, companies such as Nestlé S.A., Cadbury, Mondelez, and The Hershey Company evolved as market leaders with consumer loyalty and brand reputation. The market turned further competitive by the footprints of many Asian and Middle East companies entering the market with local confectionery flavors. The companies in the market are leveraging acquisitions, mergers, and new product formulations to increase their market share. For instance, in 2018, Ferrero SpA, Italian chocolate, and confectionery products manufacturer, acquired the confectionery business of Nestle in the U.S., thus boosting its portfolio of confectionery products in the North American market.

Other key players in the market are Delfi Limited, Mars, Incorporated, Lotte Confectionery, Parle Products Pvt. Ltd., and Grupo Arcor.

Key Takeaways from the Report

• The chocolate confectionery products market in the Western Europe region is well-established with high per-capita consumption. According to DataM analysis, Western Europe is the largest chocolate confectionery product, followed by North America and the Asia Pacific region.

• Changing eating preferences and the rising trend of gifting confectionery products led to the rise in the confectionery market in the Asia Pacific region.