Imported chocolates in huge demand! Why Indians are buying chocolates ranging from Rs 13,000 to Rs 65,000

Demand for luxury and premium imported chocolates is steadily growing in India, with the market expected to see a significant increase in the year-end season and beyond, according to brands and retailers. In the financial year 2023, India imported chocolates worth $27.84 million, reflecting a year-on-year growth of 45%, as per commerce ministry data.
Karan Ahuja, co-founder of CocoCart, an omni-channel retailer and distributor of imported chocolates in India, told ET that half of their sales come from the premium chocolate category.He also mentioned that dark chocolates are considered a superfood by some, and the market is expected to undergo significant changes in the coming years.
Over the last year, CocoCart has introduced the renowned Italian brand Venchi into its offerings. Among Venchi’s premium products available at CocoCart is their exclusive 54-piece chocolate cigar box, featuring a selection of assorted chocolate cigars weighing five kilograms, priced at Rs 64,995. Looking ahead to 2024, CocoCart is exploring the addition of Belgian and UK brands like Butlers, Leonidas, Guylian, and Cartwright & Butler to its collection.Sanskriti Gupta, spokesperson for Swiss luxury chocolate brand Läderach in India, revealed that Läderach, in collaboration with the DS Group, has ambitious plans to establish its presence in key Indian markets. The brand aims to open five to seven exclusive stores in cities like Mumbai, Bengaluru, Chennai, Hyderabad, and Chandigarh over the next two years. Gupta also shared the price range of Läderach’s offerings, which start from Rs 1050 for a 64-gram tablet and go up to Rs 16,700 for a 72-piece box of Pralines and Truffles.
Gupta further shares that the 1-kilogram slab of FrischSchoggi is available at Rs 13,800. Our recent sales surge, particularly attributed to the festive, gifting, and wedding seasons approaching year-end, has been noteworthy, she noted. In India, per capita chocolate consumption stands at 140 grams, a notable contrast to the UK’s 10 kilograms. Globally, the average consumption is around 900 grams, presenting a substantial growth potential for the Indian market, she added.
Sumona Biswas, business head at ROYCE’ Chocolate, noted the demand for the brand’s limited-edition Christmas gift collection from Japan. She mentioned that there is a trend towards bitter chocolate and unique combinations of chocolates with nuts. Biswas also highlighted the increasing significance of Christmas and the New Year as gifting occasions in India. In the past year, ROYCE’ Chocolate has opened seven new stores in Bengaluru, Chennai, and Ahmedabad.

Industry experts predict that the demand for premium dark, organic, vegan, sugar-free, and gluten-free chocolates will continue to drive the import of these products into India. Arvind Singhal, chairman and managing director of Technopak Advisors, stated that chocolates have become an alternative to traditional Indian sweets for many people during celebrations. In addition to finished chocolates, a substantial amount of raw cocoa is also being imported into the country for chocolate production.
Read From ET | Growth of imported chocolates in India
Pushpa Bector, senior executive director at DLF Retail, mentioned the increasing demand for premium and luxury chocolates during the ongoing festive and wedding season. She revealed that DLF Retail plans to introduce ROYCE’ at DLF Promenade in Delhi, in addition to the existing Läderach store at DLF Emporio.
Uzma Irfan, director at UB City, highlighted the thriving year-end sales of luxury chocolates, driven by the high demand for artisanal and single-origin varieties. Irfan mentioned that consumers are seeking unique flavors and hampers, and UB City is in contact with premium chocolate brands to cater to their chocolate connoisseurs.