India: The Fastest Growing Market in Savory Snacks

"Ethnics and traditional snacks amongst the largest category in the Indian savory snacks market"
NOIDA, India - March 19, 2018 - PRLog -- Among the varied snacking options, the savory snacks gained momentum in recent years due to increased penetration of packaged snacks in this category, reflecting the quickly changing snacking patters of Indian consumers from homemade traditional snacks to a better quality branded packaged snacks. Savory snacks are the most convenient food as they are portable and quick to consume. Apart from daily consumption, savory snacks are increasingly consumed by the Indians when they are travelling, in between meals, having a get together or during special occasions. These savory snacks market in India could be divided into: Ethnic/Traditional snacks, Non-veg snacks, Nuts and seeds, Popcorn, Potato chips, processed (extruded) snacks.

According to a new RNCOS report titled "Indian Snacks Market Forecast to 2023", The Indian savory snacks market is growing at healthy double digit CAGR over the past five years. The savory snacks market grew at a CAGR of 29.04% during the period 2010-15. It is expected that savory snack would continue to grow at a CAGR of 33.59% by 2020. The rise in urban population, increasing per capita income, busier lifestyles, higher disposable income, convenience & hygiene factors have led to a high demand for ready and packed savory snacks. Ethnics and traditional snacks grabbed the largest value share in the market.

As per RNCOS, latest analysis reports, the major players ruling the Indian savory market are PepsiCo, Haldiram, Balaji Wafers, Parle, ITC, Bikaji, Bikanervala, Prataap Snacks, and DMF amongst others. PepsiCo India is the market leader in Indian savory snacks with a share of 31%. In May 2016, PepsiCo announced a major expansion of the Kurkure range with the launch of 15 new products, including South Tangy Twist, Chiwda Mix for the west, Punjabi Chatka, Shahi Mix, and Navratan Mix. The new products are available in 150 different pack offerings in order to satisfy demand across a wide range of consumption occasions and levels of disposable income.

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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