Bullion For A Billion: The Growing Indian Confectionery Market
The history of confectionery products dates back to 3000 years as per ancient Egyptian records. Originally, people used sugarcane juice or honey as ingredients, concentrated at particular consistency for making different products.
In the modern world, confectionery is categorized as sugar base, chocolates and Gums, considering commercial manufacturing methods and product profiling. Moreover, the industry is changing very rapidly due to the massive demand for luxury profiles, increased rules and regulations on labeling, new ingredient innovation and changing consumer perception and preferences.
The India Confectionery market has been recording a Compound Annual Growth Rate or CAGR of 12.15% since 2010. But why is there such a demand for Confectionery?