Snacks Industry in India 2023-2028: Top Companies, Market Overview, Growth and Forecast
The latest report published by IMARC Group, titled “India Snacks Market Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Market Overview:
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 food products that are smaller in portion size than the main meal and are usually consumed as an appetizer or side dish. They are either fried or baked and are prepared from various ingredients, such as potatoes, grains, corn, nuts, oil, vegetables, etc. Snacks are mainly obtainable in spicy, sweet, salty, and sour tastes. Some commonly eaten snacks in India include popcorn, salted peanuts, chips, fryums, etc. They are preferred by the masses on account of their long shelf-life, satisfying taste, and easy storage. As such, snacks are extensively available in superstores, online channels, hyperstores, etc., across the country.
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Indian Snacks Market Trends and Drivers:
The escalating demand for on-the-go food items, particularly among the working and Millennial individuals, is primarily driving the India snacks market. Besides this, the inflating urbanization levels, the shifting dietary preferences, and the improving consumer living standards are further augmenting the market growth.
Apart from this, the elevating popularity of snack variants with ethnic tastes, such as murukku, papad, banana chips, samosas, etc., based on the diverse food cultures across the country is also catalyzing the India snacks market. Moreover, the implementation of several stringent quality standards by the Food Safety and Standards Authority of India (FSSAI) to reduce the risk of digestive problems and food-borne illness is acting as another significant growth-inducing factor.
Furthermore, the introduction of value-added product variants with organic, natural, vegan, low-calorie, and gluten-free ingredients is anticipated to bolster the India snacks market over the forecasted period.
Indian Snacks Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of Indian companies operating in the market.
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), and Urban Platter.
The report has segmented the market on the basis of region, product type, pack type, pack size and distribution channel.
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
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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
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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