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://theexplorers.com/user?id=98225e5f-d2b9-4394-ad88-dce8b0aedbf0
https://theexplorers.com/user?id=a5edf0d4-d232-4c15-8d9d-d2ed3d354d5c
https://theexplorers.com/user?id=434a5b81-c052-4a93-bd42-4821c894453e
https://theexplorers.com/user?id=81256d6f-64c0-4f0a-9102-fc539ff4fd9f
https://theexplorers.com/user?id=7fb0b9fe-5e75-406d-83c5-b8c0c66be557
https://theexplorers.com/user?id=dad82595-42ca-4829-8d35-594807e19857
https://theexplorers.com/user?id=b5e12032-cc6c-4e49-b1ee-1d699668c499
https://theexplorers.com/user?id=75632135-be10-41b6-a66a-ecb264fdb0f2
https://theexplorers.com/user?id=a06b7df1-3357-43e7-b224-043e141a3c8d
https://theexplorers.com/user?id=b3d07763-8109-448c-9dc6-3b920cedaea7
https://theexplorers.com/user?id=e40e255a-cc64-48f6-8015-a11db901a65d
https://theexplorers.com/user?id=54c06ce7-4e58-4906-aa29-abd98d2eedcd
https://theexplorers.com/user?id=f63bde8f-83b2-457d-b27c-e97c3ab80419
https://theexplorers.com/user?id=4f3532fc-6c01-4ed4-8e07-c7c01354b87c
https://theexplorers.com/user?id=67681f46-c40f-428d-aeee-74460727dbd5
https://theexplorers.com/user?id=27872676-b607-4ce2-810a-296d78ff70fb
https://theexplorers.com/user?id=0ee20a28-7b10-449a-9dee-ab03fd2ecf25
https://theexplorers.com/user?id=bc1d5b0a-db97-4723-9946-41af7815437b
https://theexplorers.com/user?id=c945c7b1-abcc-4e52-ba15-285189911632
https://theexplorers.com/user?id=346ec4c7-1ca0-443f-a82f-ce055c5180fb
https://theexplorers.com/user?id=8161ce89-2e85-405a-ae72-c7727e45691c
https://theexplorers.com/user?id=8380d004-ba97-432d-8992-1785bbe0fb98
https://theexplorers.com/user?id=2e0d4d98-8cba-4718-8fbd-0d24a7d1d0e9
https://theexplorers.com/user?id=a3ad28a4-b0b5-4136-8196-d7d7ca2c048c