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.
https://www.facebook.com/media/set/?set=a.122096966282957741
https://www.facebook.com/media/set/?set=a.122096966276957741
https://www.facebook.com/media/set/?set=a.122096966264957741
https://www.facebook.com/media/set/?set=a.122096966258957741
https://www.facebook.com/media/set/?set=a.122096966246957741
https://www.facebook.com/media/set/?set=a.122096966240957741
https://www.facebook.com/media/set/?set=a.122096966234957741
https://www.facebook.com/media/set/?set=a.122096966228957741
https://www.facebook.com/media/set/?set=a.122096966210957741
https://www.facebook.com/media/set/?set=a.122096966204957741
https://www.facebook.com/media/set/?set=a.122096967320957741
https://www.facebook.com/media/set/?set=a.122096967314957741
https://www.facebook.com/media/set/?set=a.122096967308957741
https://www.facebook.com/media/set/?set=a.122096967302957741
https://www.facebook.com/media/set/?set=a.122096967296957741
https://www.facebook.com/media/set/?set=a.122096967290957741
https://www.facebook.com/media/set/?set=a.122096967284957741
https://www.facebook.com/media/set/?set=a.122096967278957741
https://www.facebook.com/media/set/?set=a.122096967272957741
https://www.facebook.com/media/set/?set=a.122096967266957741
https://www.facebook.com/media/set/?set=a.122096968586957741
https://www.facebook.com/media/set/?set=a.122096968580957741
https://www.facebook.com/media/set/?set=a.122096968574957741
https://www.facebook.com/media/set/?set=a.122096968568957741
https://www.facebook.com/media/set/?set=a.122096968556957741
https://www.facebook.com/media/set/?set=a.122096968550957741
https://www.facebook.com/media/set/?set=a.122096968544957741
https://www.facebook.com/media/set/?set=a.122096968538957741
https://www.facebook.com/media/set/?set=a.122096968532957741
https://www.facebook.com/media/set/?set=a.122096968526957741
https://www.facebook.com/media/set/?set=a.122113534118936082
https://www.facebook.com/media/set/?set=a.122113534106936082
https://www.facebook.com/media/set/?set=a.122113534100936082
https://www.facebook.com/media/set/?set=a.122113534094936082
https://www.facebook.com/media/set/?set=a.122113534088936082
https://www.facebook.com/media/set/?set=a.122113534082936082
https://www.facebook.com/media/set/?set=a.122113534076936082
https://www.facebook.com/media/set/?set=a.122113534070936082
https://www.facebook.com/media/set/?set=a.122113534064936082
https://www.facebook.com/media/set/?set=a.122113534058936082
https://www.facebook.com/media/set/?set=a.122113537670936082
https://www.facebook.com/media/set/?set=a.122113537664936082
https://www.facebook.com/media/set/?set=a.122113537658936082
https://www.facebook.com/media/set/?set=a.122113537652936082
https://www.facebook.com/media/set/?set=a.122113537640936082
https://www.facebook.com/media/set/?set=a.122113537634936082
https://www.facebook.com/media/set/?set=a.122113537622936082
https://www.facebook.com/media/set/?set=a.122113537616936082
https://www.facebook.com/media/set/?set=a.122113537610936082
https://www.facebook.com/media/set/?set=a.122113537604936082
https://www.facebook.com/media/set/?set=a.122113539566936082
https://www.facebook.com/media/set/?set=a.122113539560936082
https://www.facebook.com/media/set/?set=a.122113539554936082
https://www.facebook.com/media/set/?set=a.122113539542936082
https://www.facebook.com/media/set/?set=a.122113539536936082
https://www.facebook.com/media/set/?set=a.122113539530936082
https://www.facebook.com/media/set/?set=a.122113539518936082
https://www.facebook.com/media/set/?set=a.122113539512936082
https://www.facebook.com/media/set/?set=a.122113539506936082
https://www.facebook.com/media/set/?set=a.122113539500936082
https://www.facebook.com/media/set/?set=a.122118497822927562
https://www.facebook.com/media/set/?set=a.122118497816927562
https://www.facebook.com/media/set/?set=a.122118497810927562
https://www.facebook.com/media/set/?set=a.122118497804927562
https://www.facebook.com/media/set/?set=a.122118497798927562
https://www.facebook.com/media/set/?set=a.122118497792927562
https://www.facebook.com/media/set/?set=a.122118497786927562
https://www.facebook.com/media/set/?set=a.122118497780927562
https://www.facebook.com/media/set/?set=a.122118497768927562
https://www.facebook.com/media/set/?set=a.122118497756927562