Cosmo Acquires Duc d’O’s Marketing Rights In India
News: US-based Cosmo Fine Foods has secured the marketing and distribution rights of Belgian chocolate brand Duc d'O in India. The move comes as the Indian market is reportedly one of the fastest growing chocolate markets in the world, owing to growing disposable income, according to Cosmo Fine Foods CEO Jai Daryanani. The deal will boost the presence of Belgian chocolate in the Indian market.
BMI View: India's confectionery sector continues to be one of the food sector's most dynamic, with tremendous potential for long-term growth. BMI is forecasting a compound annual growth rate (CAGR) of 6.9% in confectionery volume sales between 2013 and 2017 as demand for confectionery products accelerates from a low base. The chocolate segment in particular is expected to be the biggest beneficiary of consumer up-trading, with a forecast CAGR of 7.7% in volume terms between 2013 and 2017. Buoyed by higher incomes, Indian consumers are gradually gravitating towards higher-value products in line with growing familiarity with Western cultures.