India's Confectionery Market Sees Surge in Local Players Amid Cocoa Price Hikes

India's chocolate market has seen a decline in sales for international brands such as Mars, Mondelez, Perfetti Van Melle, and Hershey due to rising cocoa prices and competition from local players. Regional manufacturers have flooded the market with candies at lower price points, denting the sales of large confectionery companies. Despite this, the Indian chocolate and confectionery market remains promising with a growth potential driven by low per-capita consumption and increased demand in the current fiscal.