In a report recently released by Renub Research titled "India Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028," market share information is presented alongside a comprehensive industry analysis. The report also examines regions, competitors, and the recent expansion of the snacks market size in India.
India snacks market is anticipated to expand at a CAGR of 12% between 2022 and 2028. The snacks market in India is a dynamic and unexpectedly increasing quarter inside the country's food industry. It is characterized by a diverse range of snack products, together with conventional and modern alternatives, catering to varying taste preferences. The market's increase is pushed by elements which include changing consumer lifestyles, urbanization, increasing disposable earning, and a penchant for convenience foods. Furthermore, a surge in need for more healthy and innovative snack options has additionally shaped the evolution of snack market size in India in recent years.
Likewise, the healthy snacks market size in India is experiencing substantial growth, driven by a rising health-aware population. Consumers are more and more in search of nutritious and better-for-you snack options that align with their health goals. The health snacks market size consists of an extensive range of products consisting of protein bars, baked snacks, fruit and nut mixes, and organic options. As cognizance of the importance of healthy eating keeps to develop, the healthy snacks market size in India is anticipated to grow further in the coming years. Thus, India snacks market is expected to generate US$23.69 billion by 2028.
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Furthermore, the ready-to-eat snack market in India is witnessing great increase due to changing lifestyles and increasing urbanization. Consumers are seeking handy, on-the-go snack options that require no preparation. The ready-to-eat snack market in India incorporates a wide type of snacks like namkeens, chips, and savoury items that cater to numerous flavor options. As busy schedules come to be the norm, the ready-to-eat snack marketplace continues to enlarge, providing a wide variety of alternatives for customers looking for brief and gratifying snack options.
The unorganized sector dominates the snacks market size in India primarily due to its extensive reach in rural and semi-urban areas.
Small local snack vendors, mom-and-pop stores, and street food providers shape a substantial a part of this market. They provide an extensive variety of conventional and local snacks, often at lower prices than organized brands. This affordability, coupled with the familiarity of local flavors and convenient accessibility, makes the unorganized sector a favoured choice amongst a diverse Indian populace, leading to its dominance in the snacks market in India.
Traditional Indian snacks remain popular in the snacks market in India because they offer a unique blend of flavors, textures, and cultural significance.
These traditional snacks have stood the test of time, reflecting India's rich culinary heritage. They cater to diverse taste preferences and are often associated with nostalgia and comfort. Moreover, traditional snacks are frequently made from locally sourced ingredients, aligning with the trend of supporting locally produced and sustainable foods. Their enduring popularity is a testament to their enduring appeal in a rapidly evolving snacks market size in India.
East India is emerging as a significant growth region in the snacks market in India.
The East India area boasts a wealthy culinary lifestyle with diverse flavors and snack varieties that attract a wide consumer base. Also, East India's developing urbanization, growing disposable earning, and a burgeoning middle-class population have boosted snack intake. Furthermore, the area's specific snack offerings, which includes sweets like Rasgulla and Sandesh, have received popularity not only locally however also nationally and across the world, contributing to its surge in the snacks market size in India.
Competitive Landscape.
Among the top companies in the snacks market in India are Prataap Snacks, Nestle, DFM Foods Ltd., PepsiCo, ITC Limited, Britannia, and Agro Tech Foods Ltd.
Market Summary.
- Sector- The Report covers India Snacks Market, by sector in 2 viewpoints (Organised, and Unorganised).
- Type- By Type, India Snacks Market, breakup in 3 viewpoints (Ethnic Namkeen, Ethnic Bhujia, and Western Snacks).
- Region- Renub Research report on the India Snacks Market covers by region in 4 viewpoints (North India, West India, East India, and South India).
- Key Players- All the major players in the India Snacks Market have been covered from 3 Viewpoints (Overview, Strategy, and Sales) Prataap Snacks, Nestle, DFM Foods Ltd, PepsiCo, ITC Limited, Britannia and Agro Tech Foods Ltd.
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