India Snacks Market Size to Reach INR 70,731 Crore by 2028, CAGR of 10.4%

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.

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Snacks are food products that are consumed in small quantities as an appetizer to suppress hunger. They comprise numerous dry consumable items, including cakes, biscuits, cookies, chips, popcorn, nut mixes, multigrain chips, dry fruits, salted peanuts, etc. Snacks also contain preservatives, such as potassium nitrate, sulfur dioxide, and sodium benzoate, to retain their taste and quality for an extended time. In addition, they are stored in convenient airtight packaging to protect them from moisture, dirt, dust, and infection-causing germs. Snacks are extensively available in superstores, online channels, and hyper stores across the country.

Indian Snacks Market Trends and Drivers:

The escalating demand for these food products, as they are convenient and flavorful, is primarily augmenting the India snacks market. Furthermore, the growing popularity of numerous convenient food items among the working population, which save time and do not require the hassle of cooking, is also bolstering the market growth.

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 acting as another significant growth-inducing factor. Moreover, the implementation of several 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 further catalyzing the market growth across the country.

Besides this, the wide availability of numerous vegan snacks, on account of the widespread adoption of vegan lifestyle habits among the masses, is positively influencing the market growth. Additionally, the rising export of these food items to foreign countries and the escalating demand for various fusion products that have a blend of Indian and Western spices are expected to drive the India snacks market in the coming years.

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Indian Snacks Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the basis of region, 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

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Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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