India Candy Market Size, Share & Forecast 2026

1. FY2016 – FY2026 INDIA CANDY MARKET FORECAST AND OPPORTUNITIES Published: January 2021 www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

2. Scope of Report Product of Interest (POI): Candy The market for candy in India is anticipated to grow at a CAGR of over 15.40% during FY2021-FY2026, in terms of value, on account of rising middle class level households, which are anticipated to generate high demand during the forecast period due to increasing disposable income. The adoption of premium chocolate candies as gifts on festivals and functions is also growing considerably in the country due to marketing and awareness of chocolate candies as a product by indulgence rather than impulse product. Market Segmentation TYPE Sugar Candy • Year Range Chocolate Candy • Gum Candy • Review Period ORGANIZED VS. UNORGANIZED FY2016 – FY2019 Organized • Base Year Unorganized • FY2020 REGION Estimated Year North • FY2021 East • Forecast Period West • South FY2022 – FY2026 • 2

3. Scope of Report Product of Interest (POI): Candy India has evolved as one of the fastest growing economies among developing nations and is experiencing a major change in lifestyle due to rapid urbanization and rising disposable income. With innovative product offerings and aggressive marketing by major players to increase penetration in rural areas, supported by robust supply chain network, the market for candies is picking momentum. Candy: Candy, also known as sweets, toffies or lollies, is a sweet treat or a confection made with sugar or sugar substitutes like chocolates, combined with additives like fruits, nuts, etc., or a piece of such confection. Candies Sugar Candies (Hard Boiled, Center Filled, Panned, Lozenges, Lollipops, Jellies, etc.) Chocolate Candies (Plain, Center Filled, Panned, Lollipops) Gum Candies (Plain, Center filled, Lollipops) Unlike a cake or a chocolate bar or a loaf of bread, that can be shared among many people, candy is usually made in smaller pieces. The definition of candy also depends upon people on how they treat the food. Unlike sweet pastries that are served as a dessert course at the end of the meal, candies are often eaten casually as a mouth refreshment or between meals. 3

4. Table of Contents S. No. Contents 1. Product Overview 2. Research Methodology 3. Analyst View 4. Global Candy Market Overview 5. India Candy Market Outlook 5.1. India Candy Production 5.2. Market Size & Forecast 5.2.1. By Value & Volume 5.3. Market Share & Forecast 5.3.1. By Type (Sugar Candy, Chocolate Candy and Gum Candy) 5.3.2. By Organized Vs. Unorganized 5.3.3. By Region 5.3.4. By Company 5.4. Market Attractiveness Index (By Type and Region) 6. India Sugar Candy Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast By Product Type (Hard Boiled, Center Filled, Panned, Lozenges, Lollipops and Jellies) 6.2.1. 6.2.2. By Region 6.2.3. By Packaging Size 6.3. Pricing Analysis 4

5. Table of Contents S. No. Contents 7. India Gum Candy Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast By Type (Plain, Center Filled, Lollipops) 7.2.1. 7.2.2. By Region 7.2.3. By Packaging Size 7.3. Pricing Analysis 8. India Chocolate Candy Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast By Type (Plain, Center Filled, Panned and Lollipops) 8.2.1. 8.2.2. By Region 8.2.3. By Packaging Size 8.3. Pricing Analysis Supply Chain Analysis 9. 10. Import Export Analysis 11. Market Dynamics 11.1. Drivers 11.2. Challenges 5

6. Table of Contents S. No. Contents 12. Market Trends and Developments 13. Impact Of Covid-19 On India Candy Market 14. Policy and Regulatory Landscape 15. India Economic Profile 16. Competitive Landscape 16.1. Competition Matrix 16.2. Company Profiles 16.2.1. Perfetti Van Melle India Private Limited 16.2.2. Parle Products Private Limited 16.2.3. ITC Limited 16.2.4. Mondelez India Foods Private Limited 16.2.5. Nestle India Limited 16.2.6. DS Group Private Limited 16.2.7. Mars International India Private Limited 16.2.8. Lotte India Corporation Limited 16.2.9. Hershey India Private Limited 16.2.10. Ravalgaon Sugar Farm Limited 17. Strategic Recommendations 18. About Us & Disclaimer 6

7. List of Figures Figure No. Figure Title Figure 1: India Candy Market Size, By Value (USD Million), By Volume (Million Kgs), FY2016-FY2026F Figure 2: India Candy Market Share, By Type, By Value, FY2016–FY2026F Figure 3: India Candy Market Share, By Organized Vs Unorganized, By Value, FY2016–FY2026F Figure 4: India Candy Market Share, By Region, By Value, FY2020 & FY2026F Figure 5: India Candy Market Share, By Region, By Value, FY2016–FY2026F Figure 6: India Candy Market Share, By Company, By Value, FY2020 Figure 7: India Candy Market Attractiveness Index, By Type, By Value, FY2021E-FY2026F Figure 8: India Candy Market Attractiveness Index, By Region, By Value, FY2021E-FY2026F Figure 9: India Sugar Candy Market Size, By Value (USD Million), By Volume (Million Kgs), FY2016-FY2026F Figure 10: India Sugar Candy Market Share, By Type, By Value, FY2016–FY2026F Figure 11: India Sugar Candy Market Share, By Region, By Value, FY2020 & FY2026F Figure 12: India Sugar Candy Market Share, By Region, By Value, FY2016–FY2026F Figure 13: India Sugar Candy Market Share, By Packaging Size, By Value, FY2016–FY2026F Figure 14: India Gum Candy Market Size, By Value (USD Million), By Volume (Million Kgs), FY2016-FY2026F Figure 15: India Gum Candy Market Share, By Type, By Value, FY2016–FY2026F Figure 16: India Gum Candy Market Share, By Region, By Value, FY2020 & FY2026F Figure 17: India Gum Candy Market Share, By Region, By Value, FY2016–FY2026F 7

8. List of Figures Figure No. Figure Title Figure 18: India Gum Candy Market Share, By Packaging Size, By Value, FY2016–FY2026F India Chocolate Candy Market Size, By Value (USD Million), By Volume (Million Kgs), FY2016- FY2026F Figure 19: Figure 20: India Chocolate Candy Market Share, By Type, By Value, FY2016–FY2026F Figure 21: India Chocolate Candy Market Share, By Region, By Value, FY2020 & FY2026F Figure 22: India Chocolate Candy Market Share, By Region, By Value, FY2016–FY2026F Figure 23: Chocolate Candy Market Share, By Packaging Size, By Value, FY2016–FY2026F India Sugar Confectionery Products Containing Cocoa Exports with HS Code 18069020, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 24: India Sugar Confectionery Products Containing Cocoa Imports with HS Code 18069020, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 25: India Other Sugar Confectionery Exports (Excluding Items Containing Cocoa), with HS Code 17049090, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 26: India Other Sugar Confectionery Imports (Excluding Items Containing Cocoa), with HS Code 17049090, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 27: India Toffees, Caramels & Sim Sweets Exports with HS Code 17049030, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 28: India Toffees, Caramels & Sim Sweets Imports with HS Code 17049030, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 29: India Jelly Confectionery Exports with HS Code 17049010, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 30: India Jelly Confectionery Imports with HS Code 17049010, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 31: India Chewing Gum Exports with HS Code 17041000, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 32: India Chewing Gum Imports with HS Code 17041000, By Value (USD Million), By Volume (Million KGs), 2016-2020 Figure 33: 8

9. List of Tables Table No. Title Table 1: India Sugar Candy Market, Pricing (2021) Table 2: India Gum Candy Market, Pricing (2021) Table 3: India Chocolate Candy Market, Pricing (2021) 9

10. RESEARCH METHODOLOGY RESEARCH METHODOLOGY

11. Research Methodology Market Profiling Data Analysis Data Data Developing List of Respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine top players in the India candy market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India candy market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Primary Research Desk Research Company Analysis ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Conclusion ✓ ✓ Market Participants Key Strengths ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 11

12. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India candy market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as rising middle class households, increasing urbanization, etc.. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India candy market. Methodology Followed for Calculation of Market Size: Market Size By Value: Market size, in terms of value, for the year FY2020 was calculated based on information collected through exhaustive • secondary research and primary surveys, with various key opinion leaders/stakeholders, such as kids wear companies, channel partners, market influencers & end users, industry experts, and other industry participants. The team interviewed more than 15 – 20 candy companies, 45 – 50 channel partners, 80 – 100 end users, and 15 – 20 industry experts and • other value chain stakeholders in India candy market to obtain the overall market size for FY2016-FY2020, which was validated by using Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2016-FY2020. 12

13. Research Methodology Respondents were asked about the current and future market growth rates, market shares by type, by organized vs. unorganized, by region and • by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares by type, by organized vs. unorganized, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of candy market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in • SPSS/Tableau Software. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India candy • market, TechSci Research used various forecast techniques such as: Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis ✓ 13

14. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. Partial List of Companies Interviewed Key Secondary Sources DS Group Private Limited World Bank ▪ ▪ Hershey India Private Limited TechSci Research Proprietary Database & Knowledge ▪ ▪ ITC Limited Repository ▪ Lotte India Corporation Limited Company Annual Reports ▪ ▪ Mars International India Private Limited Industry Magazines ▪ ▪ Mondelez India Foods Private Limited Industry Reports ▪ ▪ Nestle India Limited News Dailies ▪ ▪ Parle Products Private Limited Credible Paid Databases ▪ ▪ Perfetti Van Melle India Private Limited ▪ Ravalgaon Sugar Farm Limited ▪ 14

15. Industry Brief According to recently released TechSci Research report “India Candy Market By Type, By Organized Vs Unorganized, Competition Forecast and Opportunities, FY2016-FY2026’’, India candy market is forecast to grow at CAGR of 15.40% in value terms to reach USD 3661.68 Million by FY2026. Increasing demand for candies has been generated from the country’s rising children and young population. Various candy manufacturing giants have introduced candies of various tastes to attract young generation consumers and have also targeted the untapped rural population. As of 2019, more than 65% of total population of India was living in rural areas. Hence, strategy adopted by the leading candy manufacturers for targeting rural population and young population is boost to the country’s candy market. With the growth of urbanization and continuous increase in middle-class population across the country, spending capacity of consumers in India towards urbanized lifestyle has been on a rise. This has had a positive influence on the taste preferences of consumers towards confectionary products, which is driving the candy market across the country. India candy market is categorised into sugar candies, chocolate candies and gum candies. The sugar candy segment holds the major market share followed by gum and chocolate. The chocolate candies category is growing fast in value terms due to availability of innovative products that are sold at a premium price as compared to sugar and gum categories. The value share of sugar candy is anticipated to reach to 63.00% by FY2026, owing to continuous launch of innovative products and rising disposable incomes. Perfetti Van Melle India Private Limited, Parle Products Private Limited, ITC Limited, Mondelez India Foods Private Limited, Nestle India Limited, DS Group Private Limited, Mars International India Private Limited, Lotte India Corporation Limited, Hershey India Private Limited, and Ravalgaon Sugar Farm Limited are some of the companies operating in the candy market of India. “Candy market in India includes several players, including a blend of large multi-nationals as well as small players forming a large unorganized market. Multinational companies such as Perfette Van Melle, Mondelez, Parle, Nestle, etc., have either set up their production facilities in India or implementing contract manufacturing processes, to grab the opportunity of booming candy market and increase of their product portfolio as per consumers taste preferences which is expected to drive the growth of organized sector in the coming years. Also, guidelines related to manufacturing and marketing of candy as per Indian and International standards has been implemented which is primarily focused on development of newer products, exploitation of technology and enhancement of distribution network. This is expected to give a boost in the country’s candy market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 15

16. Sample Data - Snapshot India Candy Market Size, By Value (USD Million), By Volume (Million Kgs), FY2016-FY2026F CAGR FY2021E-FY2026F By Value: xx% By Volume: xx% CAGR FY2016-FY2020 By Value: xx% By Volume: xx% FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F Value (USD Million) Volume (Million Kgs) India Gum Candy Market Share, By Type, By Value, FY2016–FY2026F FY2016 20.00% FY2017 20.00% 30.00% 50.00% FY2018 20.00% 30.00% 50.00% FY2019 20.00% 30.00% 50.00% FY2020 20.00% 30.00% 50.00% FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F 20.00% 20.00% 20.00% 30.00% 30.00% 30.00% 50.00% 50.00% 50.00% Plain Center Filled 30.00% Lollipops 20.00% 30.00% 50.00% 20.00% 30.00% 50.00% 20.00% 30.00% 50.00% 50.00% India Chocolate Candy Market Share, By Region, By Value, FY2016–FY2026F FY2016 10.00% 20.00% 30.00% 40.00% FY2017 10.00% 20.00% 30.00% 40.00% FY2018 10.00% 20.00% 30.00% 40.00% FY2019 10.00% 20.00% 30.00% 40.00% FY2020 10.00% 20.00% 30.00% 40.00% FY2021E 10.00% 20.00% 30.00% 40.00% FY2022F 10.00% 20.00% 30.00% 40.00% FY2023F 10.00% 20.00% 30.00% 40.00% FY2024F 10.00% 20.00% 30.00% 40.00% FY2025F 10.00% 20.00% 30.00% 40.00% FY2026F 10.00% 20.00% 30.00% 40.00% West North South East 16

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18. About Us & Disclaimer TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports Global Candy Market By Product Type (Sugar Candy, Chocolate Candy & Gum Candy), By Distribution Channel (Convenience Stores, Traditional Grocery Stores, Supermarkets/Hypermarkets, Online Sales Channel & Others), By Region, Competition, Forecast & Opportunities, 2025 • UAE Halal Food & Beverages Market By Product Type (Meat Products, Beverages, Bakery, Candy & Chocolate), By Distribution Channel (Hypermarkets/ Supermarkets, Specialty Stores, Online & Others), Competition Forecast & Opportunities, 2025 • TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.