India Snacks Market By Sector, Types, Companies, Forecast By 2026
India Snacks Market is expected to reach US$ 23.36 Billion by 2026. Forecast By Sector(Organized & Unorganized), Types(Extruded Snacks, Chips, Namkeen, Others), Region, Company Analysis.
By: Renub Research
The packed snacks such as instant and ready-to-cook snacking food items act as the primary growth drivers for the snacks industry in India. The consumption of package snacks is growing in India due to hygienic factors, easy availability, numerous choices, and a rise in its citizens' personal disposable income. Our study suggests that the Indian Snacks Market size is expected to grow with a double-digit CAGR of 13.24% from 2020 to 2026.
Millennial and Gen-Zs population are considered a big market by FMCG companies for its snacks segment. Since Millennial and Gen-Zs population are more inclined towards the junk food. However, this trend is also changing slowly with the introduction of organic nutrient snacks in the Indian market. These snacks are considered a bit healthier compared to regular snacks because of qualities like low calorie and constituting less oil; thus, huge Indian masses prefer them. The market of snack food in India is valued to US$ 11.08 Billion in 2020.
Why Snacks are Popular
Snack provides Instant Gratification from Hunger: Snacks that aid the immediate work pressures while offers mental stimulus. Currently, as work from home presumably obliges more productivity and turnarounds, snacks provide instant gratification from hunger.
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