India Snacks Market to Grow at 9.08% During 2024-2032, Bolstered by Rapid Urbanization

February 03, 2022 | Food & Beverages

The latest report by IMARC Group, titled “India Snacks Market Report by Product Type (Chips, Salted Peanuts, Fryums, Popcorns), Pack Type (Pouch, and Others), Pack Size (Less than 50 gm, 50-100 gm, More than 100 gm), Distribution Channel (General Trade, Modern Trade, Online and E-Commerce, and Others), and State 2024-2032,” finds that the India snacks market reached a value of INR 42,694.9 Crore in 2023. Snacks are food products that are consumed between the main meals, as a side dish, or appetizer. They consist of a small portion of food that is available in a variety of forms and shapes, such as fruits, baked goods, and savory snacks. They are generally produced from ingredients like corn, potatoes, nuts, oils, and grains. Snacks include packaged and processed food products. They are gaining popularity among the Indian population owing to their availability in sweet, sour, salty, and spicy variants.

India Snacks Market Trends: 

The market is primarily driven by the rising consumption of processed food items and on-the-go food products. Rapid urbanization has resulted in hectic work schedules and sedentary lifestyles among individuals, which is also increasing the consumption of snacks as an alternative to full-fledged meals like breakfast, lunch, or dinner. In addition to this, the satisfying taste and long shelf life offered by snacks are facilitating the market growth. Snacks with ethnic tastes like banana chips, murukku, papad, and samosas are becoming extremely popular among the teenage population, people living in hostels, and bachelors. Furthermore, the rising health consciousness has shifted the consumer preference towards natural, organic, vegan, low-calorie, and gluten-free snack variants. As a result, manufacturers are introducing value-added products in different flavors, textures, and seasonings to diversify their consumer base and expand their product portfolio. Nowadays, the growing trend of premiumization has further led to the launch of a variety of functional snacks with bold, spicy flavors and exotic ingredients, which, in trun, is influencing the growth of the market. Looking forward, the market is expected to grow at a CAGR of 9.08% during the forecast period (2024-2032).

Market Summary: 

  • Based on the product type, the market has been segmented into chips, salted peanuts, fryums, and popcorns.
  • On the basis of the pack type, the market has been classified into pouch and others.
  • The market has been categorized based on the pack size into less than 50 gm, 50-100 gm, and more than 100 gm.
  • On the basis of the distribution channel, the market has been segregated into general trade, modern trade, online and e-commerce, and others.
  • Region-wise, the market has been divided into Maharashtra, Uttar Pradesh, Delhi, Gujarat, Karnataka, Andhra Pradesh, Telangana, Goa, and others.
  • The competitive landscape of the market has been examined, with some of the key players being Agro Tech Foods Limited (Conagra Brands, Inc.), Balaji Wafers Private Limited, 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units INR Crore, ‘000 Tons
Segment Coverage Product Type, Pack Type, Pack Size, Distribution Channel, States
States Covered Maharashtra, Uttar Pradesh, Delhi, Gujarat, Karnataka, Andhra Pradesh, Telangana, Goa, Others
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.
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
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India Snacks Market to Grow at 9.08% During 2024-2032, Bolstered by Rapid Urbanization
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