Mondelez to Set Up Research and Development Center in India
India: Mondelez International, an
American confectionery, food and beverage company based in Chicago,
Illinois which is also a maker of Cadbury chocolates and Bournvita is investing
USD1 billion, to set up a global research, development and quality hub in
Thane, Mumbai.
Mondelez
International plans to set up nine global research, development and quality
centers all over the world to strengthen its presence in global confectionary
market. RDQ, which is to be setup in Mumbai will mainly focus in research and
development in chocolates. Mondelez plans to have an RDQ Centre in China also for
research and development in biscuits segment and one in Singapore for gum and
candy segment.
According
to TechSci Research, Mondelez has a strong presence in india and it will be the
priority market for them to accelerate growth and momentum in India and Asia-
Pacific. Previously, the company has opened a manufacturing facility in Andhra
Pradesh, India, which started its operations in April, 2016 and invested USD0.19
billion on it. With growing presence of Mondelez in india, Perfetti van melle,
an international brand in confectionary market will face a huge competition by
Cadbury in chocolate segments.
According
to recent report published by TechSci Research, “India Chocolate
Market Forecast & Opportunities, 2020”,
chocolate market in India is projected to surpass USD17 billion by 2020. In
2014, Consumer chocolates segment dominated the Indian chocolate market, and
this trend is expected to continue over the course of next five years. Product
innovations, strong marketing strategies and increase in variety of products
are driving consumer chocolate sales in India. Over the last few, apart from
children, adult population has emerged as the key consumer segment for
chocolate companies in the country. Consequently, manufacturers have been
launching new and innovative chocolate products such as sugar-free and organic
chocolates to lure adult consumers. In terms of regional sales, Northern India
accounted for the largest share in 2014, followed by the Southern, Western and
Eastern regions of the country.ind