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Globally loved brands are expanding local manufacturing capacity to create the same quality and taste in India. This is a significant milestone for the company. This will help increase production and ensure new availability to a large number of Indian consumers. Parmar said.
With the addition of dark chocolate to Galaxy Chocolate’s line-up, the brand is expected to grow to cement its position among the top three chocolate brands in the molded segment in India. Apart from expanding the product line, Mars will also expand its service in the country. Mars Chocolate is now available in more than 6,000 cities. Parmar said the company’s growth in India over the next five to eight years would come from these markets.
The biggest driving factor for this expansion in India is availability in the Rs 10 to Rs 20 range. This helped the company to enter the Indian market and bring their products to more people. Even the villages are now giving high income to Mars. Therefore, the company will try to maintain products priced at Rs.10 for the next two years.
This expansion is significant as 75 percent of Mars Chocolate’s sales in the country come from small shops and local grocers. The company is likely to maintain this price to keep the products affordable and popular. According to Parmar, the average chocolate intake globally is 50 grams, but in India it is 12 grams.
Metro market and demand for premium products will continue. But India is a mass market where the company is keen to make its presence felt. Also, 75-80% of the chewing gum and small candies business is in the Rs. The Indian chocolate market is dominated by Mondelez with a market share of 57.4%. Close behind is Nestlé (16.1%). Rest of the market is held by Ferrero Rocher, Mars Wrigley, Hershey’s and Amul.
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In 2016, Mars Wrigley set up India’s first chocolate factory in Khed City, Pune. After that Snickers started building the brand. In October 2021, the company started manufacturing the Galaxy brand in India. It later became a Rs 100 crore brand. The company has launched many chocolate variants in India. About 55 percent of the chocolate market in India is molded chocolates. With local manufacturing of the Galaxy brand, the company is now competing with brands like Cadbury and Nestle.
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