The UK based confectionery giant is the dominant player in the Indian chocolate market and Anand Kripalu, managing director of Cadbury India, said that the company expects the energy glucose variant of its popular Perk brand to be singularly responsible for adding five per cent annually to the size of the company’s market share.
The Indian chocolate market is estimated at US$400 million and growing at 18 per cent per annum. Cadbury has over 70 per cent share in this market, and recorded a turnover of over US$37m in 2008.
Kripalu said that the reformulated Perk is the first energy glucose containing brand in that market, and is targeted at the 14-18 year old youth segment, that traditionally have a high rate of snack consumption.
"We also want chocolate consumption occasions to be regular amongst non users and thus expand the category. The added energy benefits gives consumers another reason to purchase the brand."
He explained that the glucose formulation was developed by the Cadbury India science and technology team and took three years to come to fruition.
Cadbury's Boost brand, sold in the UK and Ireland, is also a glucose based product.
According to a recent industry trend report, the next big confectionery trend will be for healthier products with growing demand for health benefits and better-for-you-ingredients.
Consumers are already choosing portion-control sized treats and there is increasing evidence of potential heart health benefits of higher cacao content in chocolate.
The National Confectioners Association's (NCA) Confectionery Industry Trend Report 2009 featured insight from 40 industry experts including top manufacturers, market researchers, award-winning chocolatiers and nutritionists, focused on chocolate trends, health benefits, flavour fusions and international influences.
The majority of the experts surveyed said confectionery product ranges featuring new flavours, flexibility and variety will help manufacturers grow consumer purchases over the next five years despite economic uncertainty.
Global influences and flavour pairings will become more important, according to the survey. Forty-three per cent of experts predicted that consumers will become more open to chocolate and flavour infusions that include spices, salts, herbs and floral flavours.
“We'll start to see ethnic flavours emerge in popularity with herbs being incorporated into chocolate dishes. Consumers can also expect to see sweet and savoury combinations like chocolate and bacon, as well as chocolate and cheese duos appear in stores and on the menus,” said the report.