Halwa refers to any type of dense, sweet confections served across the Europe, Asia Pacific and MEA region. It is a type of dessert having very thick pudding which is made from a variety of fruits, vegetables, grains, nuts, and lentils. Halwa is generally prepared from various raw materials such as wheat, suji, raw, moong daal, besan, carrot, Apple etc. It is not very easy to prepare halwa as it needs lots of time, hard labor work, and patience to cook delicious and rich flavored halwa. Apart from this, it needs proper raw material specifications, their proportions, and sequence of adding and processing steps of the raw materials while preparing it. Moreover, normally the halwa is rich in fat and sugar but generally not satisfactory in other nutrients.
However, some halwa like the poppy seed is highly rich in nutrients and also provide immunity against various diseases such as a cough, cold and others, especially in the winter season. Nowadays, halwa is sold in ready to eat and ready to prepare halwa mix packs which have developed a lot over the years and provide a taste similar to North Indian halwa. In India, there are various types of desserts such as carrot halwa, moong daal halwa, Bombay halwa, Bottle Gourd halwa etc. In North India, the most famous halwa includes suji, aata and moong daal halwa which is opaque, yellowish brown in color, soft and smooth in texture while in South India, it is a jelly-like translucent product with luster.
One of the significant factors towards the growth of halwa market is the production of sugar-free halwa mixed with artificial sweeteners as the number of diabetic patients are continuously increasing in India. Nowadays, people are more health conscious, so the consumption of sugar-free halwa is more among the adults. Another factor towards the growth of halwa market is that it is sold in ready to eat and ready to cook halwa mix packs. This is beneficial for the people who don’t know how to prepare halwa or they don’t have enough time to cook due to their busy lifestyle. Moreover, as the number of occasional events and parties are increasing, people generally add halwa in the sweet dish as it comes rich in taste and is also not much expensive. This can be the major factor which fuels the growth of halwa market.
The halwa market can be segmented on the basis of product type, material type, packaging type, and distribution channel. On the basis of product type, the halwa market can be segmented into anjeer halwa, moong daal halwa, carrot halwa, dry fruit halwa, and others. On the basis of material type, the halwa market can be segmented into ghee, sugar, milk, cereals, fruits & vegetables, cereals, and others. On the basis of packaging type, the halwa market can be segmented into the pouch, plastic box, cardboard box etc. On the basis of a distribution channel, the halwa market can be segmented into direct sales and indirect sales. The indirect sales market can be further sub-segmented into the specialty stores, wholesalers, hypermarket, supermarket, convenience stores, online retailers and others. On the basis of region, the halwa market can be segmented into North America, Europe, Asia Pacific, and rest of the world.
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On the basis of the regional outlook, halwa market is segmented into five different regions: North America, Latin America, Europe, Middle East and Africa and Asia Pacific. The major factor driving the halwa market in Asia Pacific region is the large population base and innovation in terms of taste. Europe and the Middle East & Africa dominate the halwa market by factors such as growing consumer preference and increased disposable income of the consumers in the region. North America and Latin America are expected to have the considerable growth in the near future.
Some of the major players operating in halwa market include Suhana, Punjab Milk Foods Inc., MTR Foods Pvt Ltd., Nutrifresh foods Ltd, Kwality Wall’s, Triguni Food Pvt. Ltd., Haldiram’s Food International Limited, Ajit Sweets, Anoushka Gourmet, and kitchens of India.