Albany, NY -- (SBWIRE) -- 03/21/2016 -- BRIC nations include Brazil, Russia, India and China. While India and China are nations projected to have the highest chocolate market growth in the period 2015-2020, the economic conditions in Brazil and Russia have been hampering the chocolate market's growth.

The chocolate market in Brazil is estimated at 800 thousand tons per annum. The per capita consumption of chocolate in Brail has grown phenomenally from 300 grams per person per year to 2.5 kgs per person annually currently. This rate exceeds the rate in other countries in the region such as China where per capita chocolate consumption is 1.2 kgs and India where it is 0.7 kgs. The country exports approximately 30 thousand tons of chocolate annually. Key countries include Peru, Chile, Argentina, South Korea and Japan.

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Russia has been experiencing a dismal economic scenario. Increasing costs of raw materials and the devaluation of the rouble have led to decreased spending on chocolates. Overall in Russia there has been a decrease in consumption of discretionary goods. An average Russian consumes approximately 4.5 kg of chocolate per annum.

India's chocolate industry, posted a growth of 15% per year in the period 2008-2012 and is projected to grow at a CAGR of 23% by volume in the period 2013-2018 to reach 3,41,609 tons. The domestic chocolate industry is worth approximately INR 7,000 crores. Chocolate penetration in India is still quite low, hence, there is scope for growth both in the regular and premium chocolate segments.

In 2014, the chocolate market in China generated sales worth approximately USD 3.2 billion and is projected to grow to USD 4.4 billion by 2020. It s the multinational players which dominate China's chocolate market. In 2013 Mars Foods was the leader followed by Nestle and Ferrero Rocher. Mars continued leading the market in 2014, but lost share marginally to the other two leading players. The poor performance of local chocolate brands can be attributed primarily to poor marketing efforts.

Why should the report be purchased?

The report 'Assessment of the BRIC Chocolate Market'highlights key dynamics ofthe global, Brazilian, Russian, Indian and Chinesechocolate market. The potential of the sector has been investigated along with emerging trends.The current market scenario and future prospects of the sector has also been studied. The report contains profiles of key players including Nestle SA, Mondelez International, Ferrero SpA, Mars, Incorporated, Hershey Company and Amul. The report contains industry expert's latest opinions on the chocolate market.

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Research methodology and delivery time:-

Smart Research Insights has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.

The report is available as single-site single-user license/enterprise wide license and the delivery time for the electronic version of the report is 3 business days. The dispatch time for hard copies is 4 business days, as each hard copy is custom printed for the client.

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