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AAK Insight Magazine nr 2 2016

Single-sourced chocolate grows in popularity in India’s developing chocolate market Marcia Mogelonsky, Director of Insight Mintel Food and Drink In contrast to developed markets, there have in emerging markets been increases in volume sales of chocolate: in India growing by 14 percent, whilst per capita consumption grew by 13 percent between 2014 and 2015.   Today, Africa produces the lion’s share of the world’s cocoa but cocoa is found in a number of other countries: the crop grows in the zone that ranges from 20 degrees south of the equator to 20 degrees north of the equator. And, as consumers become more interested in cocoa content, cocoa sources, and authenticity, they are starting to investigate options beyond Africa, presenting opportunities for cocoa growers in Asia, Latin America and the Caribbean.   The growing interest in cocoa from small or unusual sources, is notable as cocoa from Oceania appears in India and products from the Caribbean become more popular in Europe.   As single origin chocolate becomes more popular with consumers, it is likely that a selling point will be a product’s exclusivity. Cocoa considered to be “rare” or “heirloom” will fetch significantly higher prices. 9 global quality norms of physical, chemical and microbiological parameters. The certification assures AAK KAMANI’s customers about the integrity of the company’s manufacturing process as well as of its compliance with the stringent FDA regulations. Growth trends within most segments One of the fastest growing food categories in India is ice cream and frozen desserts. The industry is growing at the rate of 17 percent value-wise, with a huge market potential. AAK KAMANI manufactures a wide range of trans-free vegetable fats to the industry, providing its customers with not only healthier but also less expensive alternatives to dairy fats, without compromising on taste.   The chocolate and confectionery category is also expected to grow within the next couple of years, mainly due to consumer preferences, rising disposable incomes and changes of lifestyle.   “In 2015, sales within chocolate and confectionery in India nearly reached USD 1.9 billion value-wise and it is expected to reach USD 3.3 billion by 2020”, says Dr. K.D. Yadav, Senior Vice President, AAK KAMANI.   The Indian bakery industry has witnessed a phenomenal growth during the past years. The industry, which is currently dominated by the artisanal sector, is mainly comprised of bread, cakes, biscuits and cookies, where bread and biscuits account for more than 80 percent of the total bakery products in the country, with cakes and pastries rapidly catching up.   The market within infant nutrition is also experiencing growth, mainly driven by an increasing female working population, urbanization, a rising trend of nuclear families, and above all, convenience.   “AAK KAMANI supplies a wide range of vegetable oils for infant nutrition”, says Dr. K.D. Yadav. “These infant grade oils meet the stringent global quality standards and are manufactured under rigid quality control to ensure product safety. We also develop and supply tailor-made oil blends in line with our customers’ requirements.”   Combined with the state-of-the-art manufacturing facilities and its customer co-development approach, all these very promising growth trends leaves AAK KAMANI’s CEO Prakash Chawla full of hope for the future.   “With a continued focus on quality, health, food safety, innovation and strong customer engagement coupled with our world-class facilities and workforce, we have all the prerequisites to succeed in the fast-growing markets of India.”


AAK Insight Magazine nr 2 2016
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