However, direct to consumer brands in the health food space have managed to raise just about $100 million, despite most companies claiming that the sub-segment will grow significantly post covid.
"Historically, the Indian consumer has strongly preferred taste-led snack categories such as potato chips, extruded snacks, chocolates, and cookies. Hence, it only makes sense to give consumers healthier options in these categories rather than expecting them to change their taste preferences suddenly to health bars and makhanas," said said Anish Basu Roy, founder, TagZ Foods that is popular for its potato chips, and has recently launched gourmet dips and premium bar snacks.
For instance, health bars and makhanas accounted for a minuscule share of the Rs 80,000 crore healthy snacking segment in India last year with sales of Rs97 crore and 150 crore each.
This is despite snacking seeing a sudden surge in sales post covid, and are still growing at double digit. These segments saw huge panic buying during the first wave last year when consumers hunkered down in their homes due to coronavirus-related restrictions. Companies had expected the segments to slow down after mobility improved and out of home consumption occasions rose but it did not happen.
Research firm Kantar had forecasted snacking to grow by about 9%. About nine in 10 Indians or 88% said they are snacking more during the pandemic than before it, with millennials likely preferring snacks over meals, according to a 2020 study by Mondelez International and The Harris Poll, which covered nearly 6300 people across 12 countries.
Research firm Kantar had forecasted snacking to grow by about 9%. About nine in 10 Indians or 88% said they are snacking more during the pandemic than before it, with millennials likely preferring snacks over meals, according to a 2020 study by Mondelez International and The Harris Poll, which covered nearly 6300 people across 12 countries.
Packaged salty snacks and biscuits are an over 65,000-crore market, and two of the largest categories within India’s fast moving consumer goods basket. While Indians prioritised snacks over meals over the past year , three-fourths of Indians have relied on snacks for nourishment and a majority of them are actively seeking snacks that are high protein and vitamin rich, the study added.
"It is improbable that consumers will completely ignore their taste preferences in their search for healthier snacks. The need of the hour is to innovate using global advances in food technology and provide the consumer with better-for-you chips, chocolates, and cookies," added Roy.
Hello my name is Shenny from USA New York, I want to testify to the general public how my relationship was restored back by the great power’s of Dr Peter after three months of loneliness, my Ex-lover called me after my contact with Dr Peter that he want us to come back and start a good home, now we are happily together again as lovers. All thanks to Dr Peter who did a love spell for me for my Ex lover to return home. I will keep sharing this until people who also need help see this for his wonderful help. You can contact him via email drpeterspellcaster21@gmail.com
WhatsApp +2348162247974
https://drpeterspellcaster.wixsite.com/my-site-1
CALL NUMBER ONLY: +1 (646) 494-4360