In recent years, the Indian snack industry is propelled massively due to the rapid urbanisation, lifestyle modifications, expanding population, regional accessibility, possibilities for new products and availability of snacks in small package size, low cost, focusing and applying the regional taste in the highest rated company foods.
The Indian snacks and confectionery products mostly wrap up the sweet and salty food substances to encounter the rise. Few snacks are consumed often like potato chips, crackers, namkeen as well as few confectionery foods are preserved biscuits, bread, pastries, chocolates, cakes, and so on.
The market research provides the comprehensive enlargement of Indian snack market. Analysis provided on the basis of snacks market and market share by organized and unorganized sectors, snacks product manufacturing segments by extruded snacks, chips and others; with key companies, business strategies in Indian snacks market. The food news India about Indian snack industry will attain the peak, to more than INR 1 billion by the end of 2024 and the growth will be anticipated in a double-digit CAGR from the time interval 2018 to 2024, has been presumed.
Few of the opportunities and challenges faced by the Indian snack industry
- Since 1990s, the snack market evolving in a great way with new innovations like producing the snacks on the regional taste, flavour. The snack players dominating the industry by offering the fresh flavours in the snack, as of the diversified food culture followed throughout the India.
- However, the snacks might be well-prepared, processed and distributed as a whole for marketing progress, the packaging place the main contribution in it. The packaging material, design, texture inducing a greater number of consumers to buy the products in India.
- People’s hectic schedules making their health condition worsen, as of the improper diet. Now, the pandemic situation awaking to the bustling people and reminding the health concern. Currently, people are improving with their health and aside by learning the adjustment of work.
- Fast-paced lifestyles, easily driving the people to follow on instant or ready to eat snacks than traditional.
- Greater number of people are suffered from the incurable diseases like diabetes, heart disease, on the contrary people were looking for the sugar-free, high nutritional quality and organic snack products.
- Since 2019, Indian snack market shows the increasing trend and 2020, snack market value touched about $5.57 billion and expected to achieve $13 billion by the end of 2026.
However, the snack industry has considerably more opportunities, but it has few challenges like others. The snack industry has lack of storage infrastructure, unavailability of raw materials specifically for seasonal crops and the poor connectivity in certain rural areas with food processing units placed for, that generates the wastage of products. Nevertheless, in India, the western food style mostly impacted the people’s mind along with the expectation of organic essence in it. This challenging tasks typically producing the way for enlargement of snack industry hugely in a certain period.To know more updates about food news in India, follow FMT magazine.
