PRESS RELEASE
Published June 19, 2023
How Big is Snacks Market in India ?
IMARC Group’s latest report, titled “India Snacks Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the Indian snacks market size reached INR 38,603 Crore in 2022. Looking forward, IMARC Group expects the market to reach INR 70,731 Crore by 2028, exhibiting a growth rate (CAGR) of 10.4% during 2023-2028
Snacks are becoming increasingly popular in India due to their convenience, variety of flavors, and satisfying taste. These light and small-size meals are typically consumed between regular meals as appetizers or side dishes to the main meal. They provide a quick and convenient way to satisfy hunger and cravings.
There is a wide range of snacks available in India, including bhel, khakhra, idli, sev, samosa, chikki, banana chips, popcorn, vada pav, masala peanuts, dabeli, ganthiya, mathri, pakora, grilled sandwich, fryums, and poha. These snacks are made from various ingredients such as corn, rice, potatoes, nuts, flour, fruits, grains, vegetables, and oil. They can be prepared by baking or frying and are available in different flavors, including salty, sour, sweet, and spicy.
One of the reasons for the popularity of snacks in India is their long shelf-life, which makes them suitable for storage and consumption at any time. Snacks are commonly enjoyed during tea or coffee breaks, as evening snacks, or as a part of festive celebrations and social gatherings.
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Who are the key Players Operating in the Industry ? :
Top Snacks Companies in India
- Agro Tech Foods Ltd. (Conagra Brands, Inc.)
- Balaji Wafers Pvt. Ltd.
- Bikanervala Foods Private Limited
- Haldiram Snacks Private Limited
- ITC Limited
- Parle Products Private Limited¸ PepsiCo
- Prataap Snacks Limited
- TTK Foods (TTK Healthcare)
- Urban Platter
What are the Growth Prospects and Trends in the India snacks Industry ?
The market for snacks in India is experiencing significant growth driven by various factors. One of the key drivers is the growing consumption of processed food, which is fueled by hectic work schedules and sedentary lifestyles. As people seek convenient and quick food options, snacks provide an easy solution.
Rapid urbanization and changing dietary preferences are also contributing to the market growth. As lifestyles evolve, individuals are opting for ready-to-eat snacks that cater to their tastes and preferences. Ethnic snacks like khaman, jalebi, dahi vada, murukku or chakri, and papad have gained popularity and are driving market demand.
The Food Safety and Standards Authority of India (FSSAI) plays a crucial role in ensuring the quality and safety of snacks. The implementation of quality standards by FSSAI has boosted consumer confidence and propelled the market growth. Health-conscious consumers are increasingly seeking snacks made from organic, natural, gluten-free, and low-calorie ingredients. This trend has led to the introduction of healthier snacking options to cater to this demand, providing a positive impetus to the market.
Snack manufacturers are constantly innovating and introducing value-added products with different textures, flavors, seasonings, and shapes. This diversification attracts a wider consumer base and accelerates the adoption of snacks in the market.
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https://www.imarcgroup.com/request?type=report&id=5054&flag=CWhat is Included in Market Segmentation ? :
Breakup by Product Type:
• Chips
• Salted Peanuts
• Fryums
• Popcorns
Breakup by States
• Maharashtra
• Uttar Pradesh
• Delhi
• Gujarat
• Karnataka
• Andhra Pradesh
• Telangana
• Goa
• Others
Breakup by Pack Type
• Pouch
• Others
Breakup by Pack Size
• Less than 50 gm
• 50-100 gm
• More than 100gm
Breakup by Distribution Channel
• General Trade
• Modern Trade
• Online and E-Commerce
• Others
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Related Report By IMARC Group:
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IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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India Snacks Market Will Reach INR 70,731 Crore by 2028 | Growth Rate (CAGR) 10.4% - Digital Journal
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