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Healthy Snacks Segment Growing Rapidly in Indian Market

Mar 16, 2018

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With rising income and booming economy, India is poised to be amongst one of the fastest growing economies in the world. This in turn is expected to drive shifts in the dietary patterns from basic subsistence foods to more value added food categories. With this increasing health consciousness, consumers globally have realized the importance of adopting a Preventive lifestyle over a Curative lifestyle. This reflects in the choices consumers makes, say choosing cholesterol free or low fat products over the unhealthy counterparts.
According to a new RNCOS report titled “Indian Snacks Market Forecast to 2023”, Snacks have been an important part of the Indian food habit for ages now. It is estimated that almost 1,000 snack items and 300 types of savories are sold across India, with many more unaccounted for. With Indian consumers constantly looking for variety and getting health conscious by the day, Healthy snacks with an authentic Indian flavor, has become the need for the day. Healthy snacks are emerging as the new trend in the Indian market. Hectic lifestyle nowadays leaves no space for elaborate family meals, thus paving the way for highly convenient, tasty and healthy snacks that serve as both appetizers as well as complete meal solutions.
As per RNCOS, latest analysis reports, healthy snacks segment holds very small share in the total snacks market, however, it is growing rapidly in India. Competitors, such as Balaji, Haldiram and Frito Lay are introducing healthy snacking options in the menu to cater the taste buds of health conscious customers. Strong opportunities exist for fat-free and guilt-free snacks, with penchant for innovation in terms of packaging. In this regard, Pratap Snacks launched a Seven Wonder category in the health segment. Lays producing company, Pepsi Co, will also be venturing into the health portfolio that already has Britannia’s Nutri Choice, McVities and Parle G as dominant players. Patanjali on the other hand witnessed a whopping annual growth of 146% in fiscal year 2016. The company has launched 500 products many of which are present in the FMCG category like Aarogya, Nariyal and Doodh biscuits and its atta noodles.
RNCOS has over a decade of experience in Food and Beverages Market Reports. We can act as a potential growth partner in all your business endeavours, such as product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. Furthermore, RNCOS can help make your business flourish by studying the market dynamics and devising the right strategies.
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