The Confectionery Store Market in India is expected to increase by USD 4.32 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 13.59%. Also, the market will record a 12.54% Y-O-Y growth rate in 2022 as per the latest market report by Technavio. The confectionery store market share growth in India by the offline segment will be significant for revenue generation. Rapid urbanization and the consequent changes in lifestyles, with consumers looking for more on-the-go products and shorter queuing times at shop counters, are increasing the preference for convenience stores in India. Thus, the overall sales of health and nutrition confectionery products such as gluten-free food products are increasing at a high rate in convenience stores. Independent retailers are private owners that have built their retail stores by assessing businesses’ needs, including staffing, marketing, merchandising, and sales.
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The Confectionery Store Market in India is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
- Avenue E-Commerce Ltd. – The company owns a licensed confectionery store across India.
- Burgundy Hospitality Pvt. Ltd – The company owns a licensed confectionery store and offers products such as chocolates.
Latest Drivers & Trends Driving the Market-
- Confectionery Store Market in India Driver:
- Rising demand for organic, functional, vegan & gluten-free confectioneries:
The rising demand for organic, functional, vegan, and gluten-free confectioneries is one of the key drivers supporting the store market growth in India. The growing health consciousness has increased the demand for healthier, organic diets. As a result, the demand for vegan and gluten-free confectioneries is increasing rapidly across India. The confectionery sector is expanding in India due to the growing demand for sugar-free chocolates and confectioneries. This can be ascribed to a growing customer preference for low-calorie items due to the rise in many lifestyle disorders.
- Confectionery Store Market in India Trend:
- The increasing popularity of premium & healthy chocolates :
Premium and healthy chocolates are becoming increasingly popular, which is the major trend for the growth of the confectionery store market in India. People in India prefer to indulge themselves with bite-sized chocolates to control their confectionery intake; As a result, the premium chocolate business is highly popular. It fits with the country’s ‘clean eating’ trend. Consumers are choosing premium chocolates to enjoy a guilt-free experience. Premium chocolate brands like Ferrero are being stocked in supermarkets and hypermarkets like D-Mart and Reliance Mart in an attempt to acquire market momentum. It has well-balanced elements that are beneficial to one’s health and minimize the risk of high blood pressure and cholesterol. Such health benefits will positively impact the market growth during the forecast period.
Read more of the latest news and developments here: February 2022 Single Issue form – International Confectionery Magazine (in-confectionery.com)