Snacks Market in India

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. The rising popularity of convenient food products, increasing implementation of quality standards by the Food Safety and Standards Authority of India (FSSAI), and increasing number of e-commerce brands and distribution channels represent some of the key factors driving the market.

Snacks comprise a wide variety of food products that are consumed in small quantities as an appetizer to suppress hunger. They consist of various dry consumable items, such as cakes, biscuits, cookies, chips, popcorn, pretzels, chicken nuggets, nut mixes, multigrain chips, granola bars, dry fruits, cheese sticks, and salted peanuts. They also contain preservatives, such as potassium nitrate, sulfur dioxide, and sodium benzoate, to retain their taste and quality for an extended time period. They are widely available in sweet, salty, sour, and spicy flavors and include various ingredients, such as corn, potatoes, grains, seeds, legumes, pulses, and flour. Snacks are stored in convenient airtight packaging to protect them from moisture, dirt, dust, and infection-causing germs. They are often served with various beverages, such as cocktails, mocktails, tea, and coffee, and can be consumed to curb appetite and gain energy. As they help elevate the levels of glucose in the blood and provide extra nutrients, the consumption of snacks is rising in India.

Indian Snacks Industry Trends and Drivers:

At present, the increasing demand for snacks, as they are convenient and flavorful, represents one of the primary factors influencing the market positively in India. Besides this, the rising popularity of various convenient food products among working individuals, as they save time and do not require the hassle of cooking, is propelling the growth of the market. In addition, the growing consumption of various snacks with ethnic tastes is offering a favorable market outlook in the country. Apart from this, the increasing number of e-commerce brands and distribution channels selling low-calorie, sugar-free, preservative-free, and gluten-free snacks with interesting flavors is contributing to the growth of the market. Additionally, the implementation of various quality standards by the Food Safety and Standards Authority of India (FSSAI) to prevent the occurrence of various food-borne illnesses and digestive problems is supporting the growth of the market. Moreover, the wide availability of various vegan snacks due to the increasing adoption of vegan lifestyle habits among the masses is strengthening the market growth in the country. Furthermore, the rising export of various Indian snacks to western countries, along with the increasing popularity of various fusion snacks that have a blend of Indian and western spices, is bolstering the market growth in India.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the market report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on product type, pack type, pack size and distribution channel.

Product Type Insights:

• Chips
• Salted Peanuts
• Fryums
• Popcorns
   

The report has provided a detailed breakup and analysis of the market based on the product type. This includes chips, salted peanuts, fryums, and popcorns. According to the report, chips represented the largest segment.

Pack Type Insights:

• Pouch
• Others
   

A detailed breakup and analysis of the market based on the pack type has also been provided in the report. This includes pouch and others. According to the report, pouch accounted for the largest market share.

Pack Size Insights:

• Less than 50 gm
• 50-100 gm
• More than 100 gm
   

A detailed breakup and analysis of the market based on the pack size has also been provided in the report. This includes less than 50 gm, 50-100 gm, and more than 100 gm. According to the report, less than 50 gm accounted for the largest market share.

Distribution Channel Insights:

• General Trade
• Modern Trade
• Online and E-Commerce
• Others
   

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes general trade, modern trade, online and e-commerce, and others. According to the report, general trade accounted for the largest market share.

States Insights:

• Maharashtra
• Uttar Pradesh
• Delhi
• Gujarat
• Karnataka
• Andhra Pradesh
• Telangana
• Goa
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Maharashtra, Uttar Pradesh, Delhi, Gujarat, Karnataka, Andhra Pradesh, Telangana, Goa, and others. According to the report, Maharashtra was the largest market for snacks in India. Some of the factors driving the Maharashtra snacks market included the increasing consumption of processed food items, wide availability of various local snacks, rising popularity of ready-to-eat (RTE) snacks etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered 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, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India snacks market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the India snacks market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India snacks industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.