The total size of the Indian chocolates market was about $2 billion in 2022. According to Euromonitor, it is estimated to grow to $2.9 bullion by 2027.
According to industry analysis and consulting firm Mordor Intelligence, the Indian chocolate market is witnessing a high demand for dark chocolate.
California-based Dr. Bharat Rakshak says high-quality dark can provide antioxidants and potentially boost moods due to compounds such as flavonoids and theobromine that are higher in dark chocolates as compared to milk chocolates.
“It [dark chocolate] has anti-aging properties, and has also been shown to have a number of other health benefits, including improved heart health, reduced inflammation, and improved cognitive function,” he adds.
A number of Indian brands now produce high-quality dark chocolate. Jayen Mehta, managing director of the Gujarat-based Amul brand, says, “Amul has pioneered the dark chocolate revolution in India. We have a range starting with 55% dark and moving up to 75%, 90% and 99% dark. We have a wide range in flavors and due to this, the category is growing in India.”
“Chocolate is a superfood when it is unprocessed,” says Professor John Dumay, Macquarie Business School, Chocolate Scorecard researcher. He notes, “Commercially, the best is dark chocolate of 70% or greater cocoa. The more it is processed and mixed with other ingredients, the less of a superfood it becomes.”
