The global chocolate industry continues to soar, with an estimated market value of $157.76 billion in 2024. By 2029, the market is expected to reach a staggering $213.22 billion. Meanwhile, India’s chocolate market is on an impressive growth trajectory, valued at $3.8 billion in 2023 and projected to reach $9.2 billion by 2032. As the demand for chocolate rises, global players have introduced several chocolate brands in India.
With shifting consumer preferences, an expanding middle class, and a demand for premium products, India’s chocolate market is attracting major brands. So, let’s dive into the 10 most popular chocolate brands in India and learn more about their financial status!
Top 10 Chocolate Brands In India Based on Revenue
| Chocolate Brand | Parent Company | Revenue of Parent Company(TTM 2024) | Head Office Location |
| 1. Mars | Mars Inc | $50 Billion | Virginia, United States |
| 2. Cadbury | Mondelēz International | $36.15 Billion | Uxbridge, England |
| 3. Toblerone | Mondelēz International | $36.15 Billion | Chicago, Illinois, United States |
| 4. Ferrero | Ferrero Group | $18.21 Billion | Alba, Italy |
| 5. Schmitten | Rajhans Group of Industries | $16.6 Million | Surat, Gujarat, India |
| 6. Lotte | Lotte Confectionery | $11.68 Billion | Seoul, South Korea |
| 7. Hershey’s | Hershey Trust Company | $11.01 Billion | Hershey, Pennsylvania, United States |
| 8. Amul | GCMMF | $10 Billion | Anand, Gujarat, India |
| 9. Fabelle | ITC Limited | $8.93 Billion | Kolkata, West Bengal, India |
| 10. Nestlé | Nestlé S.A. | $2.34 Billion | Vevey, Switzerland |
- Mars
- Website: Mars
- Founded In: 1911 by Franklin Clarence Mars
- Parent Company: Mars Inc.
- Revenue of Parent Company: $50 Billion
- Head office: McLean, Virginia, United States
Mars Inc. was founded in 1911 by Franklin Clarence Mars, who started by making and selling buttercream candies from his kitchen in Tacoma, Washington. His passion for creating delightful treats led to the birth of the Milky Way bar in 1923, which became Mars’ first major success.
Mars steadily grew, becoming a global name in confectionery and one of the most recognizable brands in the world. Mars adapted its offerings and marketing to compete with chocolate brands in India, promoting its products as premium treats for celebrations and everyday indulgence. Moreover, the Mars family’s net worth is valued at $117 billion.
- Famous Products: Mars, Snickers, M&M’s, Galaxy, Bounty, Skittles, and Twix.
- Relevant Achievements: SKITTLES won three trophies for its “Apologize the Rainbow” campaign celebrating the return of the lime SKITTLE after eight years at the Effie Awards.
- Cadbury
- Website: Cadbury
- Founded In: 1824, by John Cadbury
- Parent Company: Mondelēz International
- Revenue of Parent Company: $36.15 Billion
- Head office: Uxbridge, Greater London, England
Cadbury entered India in 1948, introducing chocolates like Dairy Milk to a country fond of traditional sweets. Its “Kuch Meetha Ho Jaaye” campaigns and relatable ads helped Cadbury become a household name. Today, it remains one of the favorite chocolate brands in India with products like Dairy Milk, Silk, and Bournville.
Cadbury’s financial standing reflects its strong market presence with a brand value of $5.7 billion. Its parent company Mondelēz International has a market capitalization of $88.52 Billion as of 2024. Also, its net worth reached $94.90 billion in 2024. For the trailing twelve months (TTM) in 2024, Mondelēz reported earnings of $5.82 Billion, underscoring its significant profitability as one of the most famous chocolate brands in India.
- Famous Products: Dairy Milk, Silk, Eclairs, Bournville, Perk, 5 Star, and Fuse.
- Relevant Achievements: Cadbury Dairy Milk won Gold at the EMVIES 2015 for “Cadbury Dairy Milk: A Sweet Decade” in the “Best Ongoing Media Campaign” category.
- Toblerone
- Website: Toblerone
- Founded In: 1908 by Jean Tobler and Sons
- Parent Company: Mondelēz International
- Revenue of Parent Company: $36.15 Billion
- Head office: Chicago, Illinois, United States
Toblerone was founded in 1908 by Jean Tobler and his sons in Bern, Switzerland. Known for its unique triangular shape inspired by the Swiss Alps, Toblerone quickly became a symbol of Swiss chocolate craftsmanship. Its distinctive taste, achieved by combining milk chocolate with honey and almond nougat, set Toblerone apart from other chocolate brands.
Toblerone is owned by Mondelez International, which has a market capitalization of around $88.52 Billion. In 2024, the company reported earnings of $5.82 Billion for the trailing twelve months. In recent decades, Toblerone has been one of the most popular premium chocolate brands in India.
- Famous Products: Toblerone Tiny, Toblerone Pralines, Toblerone Truffles, Milk Chocolate, and Dark Chocolate.
- Relevant Achievements: Toblerone 100g Milk Bar earned Mondelez WTR the Best Sustainable Supplier award at the consumer-voted TRBusiness Global Travel Retail Awards!
- Ferrero
- Website: Ferrero
- Founded In: 1946 by Giovanni Ferrero
- Parent Company: Ferrero Group
- Revenue of Parent Company: $18.21 Billion
- Head office: Alba, Italy
Founded in 1946 by Giovanni Ferrero in Alba, Italy, Ferrero emerged from post-World War II Europe with a mission to create affordable, high-quality chocolate. Giovanni used local hazelnuts to extend limited cocoa supplies, resulting in recipes that gained quick popularity in Italy.
Ferrero Group continues to show strong financial momentum into 2024, reporting a turnover of $18.21 billion, a 20.7% increase from the 2022-23 period. Therefore, Ferrero has become one of the most luxurious chocolate brands in India.
- Famous Products: Ferrero Rocher, Kinder Joy, and Nutella.
- Relevant Achievements: Ferrero India has received numerous awards, including the CII Food Safety Commitment Award.
- Schmitten
- Website: Schmitten
- Founded In: 2014 by Rajhans Group of Industries
- Parent Company: Rajhans Group of Industries
- Revenue of Parent Company: $16.6 Million
- Head office: Surat, Gujarat, India
Rajhans Group of Industries, based in Surat, Gujarat, is a diversified conglomerate with interests in various sectors. In 2014, it launched Schmitten, a premium chocolate brand that has quickly gained recognition for its quality. Moreover, global icon Priyanka Chopra became associated with SchmittenThis further boosted the brand’s luxury appeal among chocolate brands in India.
For the fiscal year ending March 31, 2023, the parent company reported a net profit of $1.17 million.
- Famous Products: Schmitten Choco Crunch, Schmitten Bites
- Relevant Achievements: In 2022, Schmitten Luxury Chocolates was conferred with India’s Most Trusted Brand award by the International Brand Consulting Corporation.
- Lotte
- Website: Lotte
- Founded In: 1967 by Shin Kyuk-ho
- Parent Company: Lotte Confectionery
- Revenue of Parent Company: $11.68 Billion
- Head office: Songpa District, Seoul, South Korea
Lotte was founded in 1967 by Shin Kyuk-ho in South Korea. Initially, it was a small confectionery company with a vision to produce quality snacks and sweets for the local market. Over time, Lotte expanded its offerings, branching out into various food and beverage products. The company’s emphasis on innovation and quality allowed it to grow internationally and also among chocolate brands in India.
Shin Kyuk-Ho owns this $26 billion empire called Lotte Group. In 2024, Lotte reported a market cap of $1.17 Billion, with earnings of $60.21 Million. These figures reflect Lotte’s strong market presence among chocolate brands in India and other south Asian countries.
- Famous Products: Coffee Bite, Lotte Eclairs, and Choco Pie.
- Relevant Achievements: In 2018 Lotte Choco Pie crosses Rs.200 crore mark.
- Hershey’s
- Website: Hershey’s
- Founded In: 1894 by Milton S. Hershey
- Parent Company: Hershey Trust Company
- Revenue of Parent Company: $11.01 Billion
- Head office: Hershey, Pennsylvania, United States
Hershey’s was founded in 1894 by Milton S. Hershey. Milton Hershey began his career with a caramel business. Still, he soon realized the potential of chocolate and pivoted to create a milk chocolate formula that was both affordable and delicious. In 1900, Hershey introduced the iconic Hershey’s Bar, which quickly gained popularity.
In 2024, the company achieved a market cap of $35.54 Billion, demonstrating its strong market position. With earnings of $2.37 Billion for the trailing twelve months, highlighting the company’s robust financial performance. This has increased its popularity among chocolate brands in India.
- Famous Products: Hershey’s Exotic Dark, Hershey’s Kisses, and Hershey Bars.
- Relevant Achievements: The Hershey Company won Best Brand Development Implementation in North America at the Transform Awards by Transform Magazine.
- Amul
- Website: Amul
- Founded In: 1946 by Tribhuvandas Patel
- Parent Company: Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF)
- Revenue of Parent Company: $10 Billion
- Head office: Anand, Gujarat, India
Amul started as a cooperative dairy movement to empower local farmers and improve milk production in India. Over time, Amul grew into one of India’s largest dairy brands, known for its range of milk-based products.
In 2024, Amul was recognized as the world’s strongest food brand with a brand value of above $3.3 billion. Today, Amul is cherished across India, symbolizing trust, taste, and local pride among chocolate brands in India.
- Famous Products: Milk Chocolate, Fruit N Nut, Dark Chocolate, and Wafer Chocolate.
- Relevant Achievements: Amul Caramel Milk Chocolate was a finalist for Best Dairy Snack at the World Dairy Innovation Award, 2018.
- Fabelle
- Website: Fabelle
- Founded In: 2015 by ITC Limited
- Parent Company: ITC Limited
- Revenue of Parent Company: $8.93 Billion
- Head office: Kolkata, West Bengal, India
Fabelle is a luxury chocolate brand by ITC Limited, designed to bring premium, handcrafted chocolates to the Indian market. The brand sources fine ingredients and employs skilled chocolatiers to create innovative offerings that cater to sophisticated palates, setting a new standard for chocolate brands in India.
ITC, a diversified group, recently launched one of the world’s most expensive chocolate under its Fabelle brand, priced at ₹4.3 lakh (almost $5,095) per kilogram. With a market cap of $71.30 Billion, ITC reported earnings of $3.28 Billion for the trailing twelve months in 2024. Therefore, Fabelle has established itself as one of the leading premium chocolate brands in India.
- Famous Products: Open Secret, Loaded Secret, Truffles and Pralines, Milk Chocolate Bar.
- Relevant Achievement: Fabelle was awarded Best Premium Dining in the Confectionery & Desserts category at the Times Food & Nightlife Awards in February 2021.
- Nestlé
- Website: Nestlé
- Founded In: 1866 by Henri Nestlé
- Parent Company: Nestlé S.A.
- Revenue of Parent Company: $2.34 Billion
- Head office: Vevey, Switzerland
Nestlé was founded in 1866 by Henri Nestlé, initially focusing on infant food before expanding into various food products, including chocolate. As Nestlé grew globally, it became known for high-quality chocolate bars, popularizing classics like KitKat and Milkybar worldwide. The brand’s commitment to taste and quality made it a favorite among chocolate lovers globally.
Nestlé India holds a market cap of $26.15 Billion, highlighting its strong position in the Indian market. For the trailing twelve months in 2024, the company recorded current earnings of $2.34 Billion. Also, Nestle’s global net worth is around $260 billion, and its brand value of $20.8 billion. This reflects its solid financial performance and impact on Chocolate Brands in India.
- Famous Products: KitKat, MilkyBar
- Relevant Achievements: Nestlé was recognized for Business Expansion, Environmental Efforts, Innovation, Investments, and Research and Development at the 2022 Just Food Excellence Awards.
Conclusion
In conclusion, chocolate brands in India are thriving, with brands ranging from global giants like Mars and Cadbury to homegrown favorites like Amul and Fabelle. These companies are not only meeting the rising demand for chocolates but are also innovating to satisfy evolving consumer preferences for premium, unique, and high-quality products.
As chocolate brands in India continue to expand, understanding the financial overview and brand strategies of these top players offers insights into their success. Whether you’re a chocolate lover or an industry observer, these brands have set the stage for an exciting future in India’s chocolate market.
FAQs
1. Chocolate brands luxury
Answer: Luxury chocolate brands focus on high-quality ingredients, exquisite flavors, and refined packaging to create a premium experience. In India, brands like Schmitten and Ferrero are popular for their luxury appeal, catering to those looking for indulgent treats or gifting options. Globally, names like Godiva and Lindt are iconic in the luxury chocolate market.
2. Chocolate brands US
Answer: Some of the most popular chocolate brands from the US include Hershey’s, Mars, and Ghirardelli. These brands offer a variety of chocolate products, from everyday treats like Hershey’s Kisses and Snickers to premium options like Ghirardelli squares, making them widely loved both in the US and internationally.
3. Chocolate brands in Switzerland
Answer: Switzerland is renowned for its exceptional chocolate, with famous brands like Toblerone, Lindt, and Cailler leading the industry. Known for their smooth textures and rich flavors, chocolate brands in Switzerland are often considered some of the best in the world, attracting chocolate enthusiasts globally.
