In 2023, India's imports of cocoa paste not defatted were at a specific baseline. Moving into 2024, the forecast suggests a value of 22.513 million USD, marking the beginning of a steady increase. By 2028, this figure is projected to rise to 24.663 million USD. Year-on-year projections indicate consistent growth rates: 2.46% from 2024 to 2025, 2.36% from 2025 to 2026, 2.25% from 2026 to 2027, and 2.16% from 2027 to 2028. Cumulatively, this represents a compound annual growth rate (CAGR) of approximately 2.33% over these five years.
Future trends to monitor include shifts in consumer preferences towards chocolate products, potential changes in trade policies affecting import duties, and the impact of global cocoa supply fluctuations. Innovations in product formulations and health trends may also influence market dynamics.
