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.
DR. TRUST IS THE BEST SPELL CASTER ONLINE WHO RESTORED MY BROKEN RELATIONSHIP AND I HIGHLY RECOMMENDS DR. TRUST ANYONE IN NEED OF HELP! WHATSAPP +14242983869
My husband left me for another woman 12 months ago and ever since then my life has been filled with pain, sorrow and heart break because he was my first love whom I have spent my entire life with. A friend of mine told me he saw some testimonies of a spell caster called Dr Trust that he can bring back lover within some few hours, i laugh it out and said am not interested but because of the love my friend had for me, she consulted the great spell caster on my behalf and to my greatest surprise after 11 hours my husband called me for the very first time after 12 months that he is missing me and that he is so sorry for every thing he made me went through. He is back to me and now we are happy together. I still can’t believe it, because it is highly unbelievable. Thank you Dr Trust for bringing back my lover and also to my lovely friend who interceded on my behalf, for any one who might need the help of this great spell caster here is the email address
drtrustspelltemple@gmail.com
WhatsApp: +14242983869
Facebook Page: https://facebook.com/trustspelltemple