India Snacks Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

India Snacks Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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.

Snacks refer to food products that are smaller in portion size than the main meal and are usually eaten as a side dish or appetizer. They are either baked or fried and are prepared from a variety of ingredients, including corn, potatoes, grains, nuts, oil, vegetables, etc. Snacks are widely available in sweet, salty, sour, and spicy tastes. In India, some of the commonly available snacks include chips, popcorn, salted peanuts, fryums, etc. These snacks are widely preferred by the masses owing to their satisfying taste, long shelf-life, easy storage, etc.

Indian Snacks Industry Trends and Drivers:
The rising consumption of processed food items due to hectic work schedules and sedentary lifestyles of the consumers is primarily driving the India snacks market. In line with this, the emerging trend of on-the-go snacking, particularly among the working and millennial population, is also propelling the product demand. Additionally, the escalating levels of urbanization, shifting dietary preferences, and improving consumer living standards, are further catalyzing the sales of snacks in the country. Besides this, the growing popularity of snacks with ethnic tastes, such as banana chips, murukku, papad, samosas, etc., based on the diversified food culture of the country, is acting as a significant growth-inducing factor. Moreover, the rising health-consciousness among consumers is augmenting the adoption of value-added product variants with natural, organic, vegan, low-calorie, and gluten-free ingredients. Numerous key players are also introducing snacks with different flavors, shapes, textures, and seasonings to attract a larger consumer base and expand their product portfolio. Apart from this, the implementation of several quality standards by the Food Safety and Standards Authority of India (FSSAI) to reduce the risk of food-borne illness and digestive problems, is positively influencing the regional snacks market. Furthermore, the growing number of luxurious snack brands in India serving premium, gourmet, and clean-label variants is also bolstering the product demand in the country. Additionally, a significant rise in the export of Indian snacks to western countries, coupled with the emergence of bridge snacks that have a local taste with a western appearance, is expected to drive the market growth in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India snacks 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.

Breakup by Product Type:

Chips
Salted Peanuts
Fryums
Popcorns

Breakup by States:

Maharashtra
Uttar Pradesh
Delhi
Gujarat
Karnataka
Andhra Pradesh
Telangana
Goa
Others

Breakup by Pack Type:

Pouch
Others

Breakup by Pack Size:

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

Breakup by Distribution Channel:

General Trade
Modern Trade
Online and E-Commerce
Others

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being 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.

Key Questions Answered in This Report:
How has the India snacks market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the India snacks market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the states?
What is the breakup of the market based on the pack type?
What is the breakup of the market based on the pack size?
What is the breakup of the market based on the distribution channel?
What are the key driving factors and challenges in the market?
Who are the key players?