Indian snacks market anticipate to touch INR 1 Billion by 2024

Major snacks player Haldiram ranks first among the others as their revenue and sales surpassed the rest.  Pratap Snacks, Balaji Wafers, DFM Foods, Bikanervala, and PepsiCo India are some of popular snacks companies in the India organized snacks market. As per market survey conducted by research firm, Indian snacks market is estimated to be worth of over INR 1 Billion by the end of 2024.

 

To achieve this growth, India snacks market is predicted to grow with double digit CAGR during 2018 to 2024. India snacks market is divided between organized players and unorganized market. Currently, the unorganized market dominates the India snacks market but this scenario is expected to change during the forecast period of 2018-2024. Snacks market in India is growing because of several factors like lifestyle changes, rising urbanization, growing middle class population, local availability and availability of snacks in small package size, low price and companies strategies to focus on regional taste. Large Number of players working in the India snacks market. Their presence is limited within a town, city or a particular area. They do not think too much for expansion. As a results, their main focus to develop snacks items according to the consumers taste in a particular area. This helps them to be popular in that region. Also their products are low priced compared to organized players.

 

Namkeen has the highest market share in India snacks segment. The market is can be divided into extruded snacks, chips, namkeen and others. In terms of market value share, namkeen has the highest market share compared to extruded snacks, chips and others. At present, in both organized and unorganized market, namkeen is the leading segment.

 

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