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From past few epochs, Indians have established a sweet tooth for chocolates and their hankering for this particular sweet has revolutionized the Indian chocolate industry. According to a recently published report by TechSci Research, a research based management consulting firm providing market research and advisory solutions, India’s chocolate market is forecast to grow at a CAGR of 18 per cent, in value terms, during 2014-19.
In order to be a part of this briskly growing industry, Maiden Group has recently launched its new chocolate brand ‘Tohfa’ in Delhi. The raw material for making Tohfa is imported from Belgium (known for producing best chocolates in the world) and it is very rich in nutrients and other reserves.
Speaking on the occasion, Kapil Goyal, CEO & Founder, Maiden Group said, “Definitely an indigenous way of gifting will be a disruption in the market and India is a land of festivals and celebrations, the market is surely not a challenge. Looking at the current gifting industry, I think there is a lot of scope to improvise on quality and operational fronts.”
Elaborating on the competition, Goyal said, “Yes, we are new but we understand the Indian market better than most of our competitors. A thorough work that our backend research team has done shows a bright future in terms of both market and branding. We also have a strong network amongst FMCG, distribution network across India and the ground work started months before the launch date.”