India among world's fastest growing chocolate markets: research

India is a nation of chocoholics and the country has one of the world's fastest growing chocolate markets which posted a huge 13 per cent sales growth last year, according to a research.

The research conducted by London-based global market firm Mintel states that while the chocolate sales in other nations have stagnated, India consumed 228,000 tonnes worth of chocolate in 2016. Australia and Indonesia consumed 95,000 and 94,000 tonnes worth of chocolate respectively in 2016.

India (13 per cent) and Poland (2 per cent) were the only two markets to see sales of chocolate grow last year.

The sales in the US, the UK, Germany and France were flat over this period, while sales fell in Russia (-2 per cent), Brazil (-6 per cent) and China (-6 per cent), it said.

"Volume sales in developed markets remained flat, while the picture was a bit brighter in emerging markets, like India, where sales generally fared better," said Marcia Mogelonsky, Director of Insight, Mintel Food and Drink.