Project Report For Chocolate Factory
Project report for Chocolate Factory is as follows.
Over the last decade, India’s robust economic development has accelerated the nation’s per capita spending power, contributing to the chocolate industry’s rapid expansion. As a result, rather than purchasing chocolates for rare occasions, customers are increasingly purchasing them on a regular basis.
Another important driver of the chocolate business is the nation’s huge youthful population, which is a prominent chocolate consumption demographic. Approximately half of India’s entire population is under the age of 25, and two-thirds are under the age of 35.
Chocolate consumption also reduces the release of cortisol, a stress hormone. Rather than relying on medicine, consumers should incorporate ingredients in their daily diet that ease a health condition. Because chocolate serves to soothe the mind and induce happiness, it is predicted that chocolate sales will continue to rise in the future years.
Due to the inclusion of healthy fats and flavonoids, which are thought to decrease blood pressure and bad cholesterol levels, dark chocolate intake is also connected with a lower risk of cardiovascular disease. According to WHO data from 2017, coronary heart disease killed 94,712 people in Mexico, accounting for 17.46 per cent of all fatalities. Several observational studies have found that chocolate intake lowers the risk of cardiovascular disease.
Market potential & Strategy
India’s robust economic growth over the last decade has accelerated the country’s per capita disposable incomes, resulting in the chocolate industry’s rapid expansion. As a result, customers are purchasing chocolates regularly rather than only for special occasions. Another important driving force in the chocolate business is the country’s huge young population, which constitutes a crucial customer group for chocolate. Currently, almost half of India’s total population lives below the poverty line. age of 25 years, and two-thirds are under the age of 35 years. Other drivers propelling the market include changing lifestyles, westernisation, the expansion of the food services industry, value addition, and so on. Chocolates are replacing traditional sweets in the nation as a result of these causes.
The Indian chocolate industry is expected to be worth US$ 1.9 billion by 2020, making the country one of the world’s fastest-growing chocolate markets. Looking ahead, IMARC Group predicts that the market will increase at a CAGR of 11.3 percent between 2021 and 2026. Keeping the uncertainties of COVID-19 in mind, we are continually following and analysing the pandemic’s direct and indirect impact.
Furthermore, greater exposure of confectionery businesses such as Nestle SA and Mars Incorporated via social networks and satellite television channels, as well as increased purchasing behaviour among millennials and youths, is expected to have a favourable influence on industry growth.
According to health experts, moderate chocolate consumption increases serotonin, which relaxes the brain and serves as an antidepressant. It also causes the release of endorphins in the body, which quickly improves mood. According to the World Health Organization, depression affected 17% of Chile’s population in 2016, the highest prevalence in the world.
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