Renub Research has recently published a report named “India Snacks Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” providing a detailed industry analysis that consists of market share insights. Furthermore, the report studies competitors and regions and the recent India Snacks Market growth. India snacks market projects a CAGR of 12% during 2023-2028.The snacks industry in India is a thriving and dynamic sector that caters to the diverse and evolving snacking preferences of the country’s population.
With a rich culinary heritage and a growing consumer base, the Indian snacks industry has witnessed remarkable growth in recent years. India’s snacks industry is characterized by a wide variety of traditional and innovative snack options that cater to different taste preferences and regional preferences. From savory snacks like namkeens, bhujia, and samosas to sweet delicacies like jalebis and ladoos, the Indian snacks market offers a vast array of choices to consumers. India snacks market is set to hit US$ 23.69 Billion by 2028, fuelled by changing lifestyles, rising income, urbanization, evolving snacking habits, innovation, organized retail, and effective marketing strategies. India snacks market is set to hit US$ 23.69 Billion by 2028, fuelled by changing lifestyles, rising income, urbanization, evolving snacking habits, innovation, organized retail, and effective marketing strategies.
One of the key factors driving the growth of the healthy snacks market size in India is the changing lifestyle patterns of consumers. With hectic schedules and increasing urbanization, there is a rising demand for convenient, on-the-go snacking options. This has led to the emergence of packaged snacks, such as potato chips, extruded snacks, and ready-to-eat namkeens, which offer convenience, portability, and longer shelf life. Furthermore, the increasing influence of western culture and exposure to global cuisines has contributed to the diversification of theIndian snacks market size. Consumers are now embracing international snacks like nachos, popcorn, and tortilla chips alongside traditional Indian snacks.
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The snack food market in India has also witnessed significant innovation in terms of flavors, ingredients, and packaging. Companies are constantly introducing new and unique flavors to cater to the evolving taste preferences of consumers. Moreover, healthier snacking options, such as baked snacks, multigrain snacks, and organic snacks, are gaining popularity as consumers become more health-conscious. As the Indian population continues to grow, and consumer spending power increases, the snacks market share in India is expected to witness further growth and innovation. The industry’s ability to adapt to changing consumer preferences, introduce healthier alternatives, and explore new flavors and packaging formats will be key in sustaining its upward trajectory.
Dominance of the unorganized sector in the India snacks market
The unorganized sector holds a dominant position in the India snacks market due to various factors. This sector offers a diverse range of traditional snacks that are often homemade, providing a unique and authentic flavor experience. These snacks are usually more affordable compared to branded alternatives, making them accessible to a wider consumer base. The unorganized sector also benefits from its flexibility in adapting to local tastes and preferences, allowing for constant innovation and customization. With its rich cultural heritage and widespread presence, the unorganized sector continues to play a significant role in shaping the Indian snacks market.
Sector – The India Snacks Market breakup from two viewpoints
1. Organized Snacks
2. Un-Organized Snacks
Popularity of ethnic namkeen continues to rise, propelling the growth and diversification of the India snacks market.
The snacks market in Indian has witnessed significant growth due to the increasing demand for regional flavors and the preservation of culinary heritage. Consumers are actively seeking out ethnic namkeen snacks that showcase the authentic tastes and traditions of different regions across India. The unique blend of spices, ingredients, and cooking techniques used in these snacks creates a nostalgic and flavorful experience for consumers. This trend has prompted manufacturers to develop a wide variety of ethnic namkeen options, catering to the diverse taste preferences of consumers and contributing to the overall growth of the Indian snacks market.
Type – The India Snacks Market breakup from three Viewpoints
1. Ethnic Namkeen & Snacks
2. Ethnic Bhujia
3. Western Snacks
Western region of India is poised to make a substantial impact on the snacks market in the country.
With its rich culinary traditions and diverse flavors, this region offers a wide range of snacks that cater to the evolving taste preferences of consumers. From popular street food delicacies like vadapav and bhelpuri to regional specialties like Gujarati snacks and Maharashtrian snacks, the western India region brings a unique and vibrant culinary heritage to the snacks market. As consumers increasingly explore new flavors and seek out authentic regional experiences, the snacks market in India can expect significant growth and innovation driven by the offerings from the western region.
Region – The India Snacks Market breakup from four viewpoints
1. North India
2. West India
3. East India
4. South India
Competitive Landscape
The Indian snacks market is characterized by the presence of prominent players such as Prataap Snacks, Nestle, DFM Foods Ltd, PepsiCo, ITC Limited, Britannia, and Agro Tech Foods Ltd. These companies play a crucial role in shaping the industry through their extensive product portfolios, strong distribution networks, and innovative marketing strategies.
All companies in this report have been covered with three viewpoints:
• Overview
• Strategy
• Sales
Company Analysis:
1. Prataap Snacks Ltd
2. Nestle
3. DFM Food Ltd
4. PepsiCo India
5. ITC Limited
6. Britannia Industries
7. Agro Tech Food Ltd
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