India’s confectionery market has a ‘bright future’ and will be bolstered by a growing gifting culture and increasing rural consumption, a report suggests.
Sugar confectionery, chocolate and chewing gum are all set to witness “steady demand growth in spite of the ‘indulgence product’ tag”, a report from Netscribes said.
In its market overview report, the consulting solutions firm identified a growing gifting culture where confectionery products are replacing traditional sweets along with a surge in the rural market.
“This is further aided by the penetration and availability of confectioneries at different price points along with the increased disposable income among consumers.”
“All these factors indicate a bright future of the confectionery market in India,” it said.