India & China’s sweet tooth
December 18th, 2007 - by Nazia Vasi
With Christmas round the corner, chocolates seem to be on everyone’s mind. Co-incidentally, India and China are the markets chocolatiers are gunning for in order to expand their markets. Chocolate is becoming the season’s case study in globalisation. A recent New York Times report says “Swiss chocolatiers, having long ago conquered markets in Europe and North America, are now aiming at the vast expanses of Russia, India and China. While India’s chocolate market is estimated at $300 million, China’s chocolate market is estimated at $410 million (the second biggest in the region), a fraction of the global sales of $57 billion.
Both traditionally local sweets, non-chocolate consuming nations are now proving to have a sweeter tooth for chocolate. While the average annual chocolate consumption in China is 100-150gms, in India its 165 gms per person, contrast this with Europe where the average annual per capita chocolate consumption is frequently cited as being around 8 kilograms!
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