Growing Gift Culture And Increasing Rural Consumption To Boost The Confectionery Market In India
Netscribes launches report on the Confectionery Market in India 2012 as part of Netscribes' Food and Beverage Industry report series
November 19, 2012 (Newswire.com) - The confectionery market in India is expected to witness a steady demand growth in spite of the 'indulgence product' tag, according to, knowledge consulting solutions company, Netscribes Inc. The report identifies trends in the confectionery industry such as the growing gifting culture and the use of confectionery products as a replacement of traditional sweets. Moreover, the rural market is also a major contributor to the industry due to its massive demand and consumption in terms of volume. This is further aided by the penetration and availability of confectioneries at different price points along with the increased disposable income amongst consumers. All these factors indicate a bright future of the confectionery market in India, according to the report.
The introduction of the report segregates the overall FMCG market into its sub segments, which includes food and beverage, under which the sub segment, the confectionery market, is highlighted. This is followed by the overview section that provides an overview of the confectionery market in India, its key characteristics, market size and growth rates as well as market potential. A segmental share of the market in terms of organized and unorganized sector is also provided along with zone wise and age wise segmentations. In addition to this, price wise and variant wise segmentation of the lower price bracket confectioneries has also been provided. The next section elaborates on the value chain analysis of the sector, followed by general distribution system of the confectionery products along with the profit margins at each step.
The report then goes on to highlight the various aspects of the confectionery market by segregating it on the basis of product types i.e. sugar confectionery, chocolate confectionery and chewing gums. It contains a brief overview about each category along with their respective market sizes. Information on the chocolate companies, the boiled sugar candy market and other aspects of the market in terms of products are provided in the exclusive report.
Following the segmentation in terms of product types, the Netscribes' report shows a segmentation of the market into rural market and urban markets. A brief overview regarding each segment along with flavour preferences and advertising techniques have also been included.
This is followed by a zone wise consumer preference section, which includes flavour and price preferences of consumers inhabiting the four regions of the country - East, West, North and South.
A separate section on import and export of different types of confectionery products has also been provided, highlighting the growth in import-export values over the years. The section also provides an insight about the nations that conduct the highest amount of confectionery trade with India.
An analysis of the socio-economic factors boosting the growth include the growing gifting culture, low per capita consumption of confectionery, rapid urbanization, growing retail market, growing income and consumption, developing rural sector and marketing campaigns. The key challenges include rise in ingredient prices, rise in packaging costs, regulatory challenges and the fake confectionery products in the market.
The next section on the 'Confectionery Market in India 2012' report highlights the role of the government in the industry. The importance of the Food Safety and Standards Act 2006, Food Safety and Standards Regulations 2011 and certain other policies has been highlighted.
The major trends identified in the sector include events, functional confectioneries, packing variations, new launches, innovation in products, creative advertising and corporate activities taking place in the industry.
The competition section provides a view of the competitive landscape of the market by providing financials and key financial ratios of the major players in the industry. It also provides elaborate information regarding the organizations. Key financial parameters constitute the financial performances of the players which are followed by business highlights. Netscribes Inc has also incorporated Porters Five Forces Analysis for a brief but effective understanding of the market scenario.
The report concludes with a section on strategic recommendations which comprises an analysis of the growth strategies for the confectionery market in India.
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