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.
Greatest things I have experienced in my life and my broken marriage. and I saw a wonderful testimony of Lisa on a psychic page about the good works of DR MURUGU Voodoo Love Spells. I never believed it, because I have never heard anything about such a miracle before. Nobody would have been able to convince me about it not until DR MURUGU Voodoo Love Spells did marvelous work for me that restored my broken marriage by getting my husband back to me and leaving the other woman he wanted to marry. as his new wife after fixing their wedding date. I was truly shocked when my husband knelt down pleading for forgiveness for me to accept him back. I am really short of words to use to show my appreciation to DR MURUGU Voodoo Love Spells For his a God sent to me and my entire family for divine restoration of my marriage. Contact him now for any kind of help via Email:{dr.makinidrmurugu@gmail.com} or visit his Website
https://drmakinidrmurugu.blogspot.com
Website: https://drmuruguspellhome.net
Call/WhatsApp +90 538 069 4285