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.
HAVE YOU BEEN SCAMMED OF YOUR COINS AND WANTS TO GET IT RECOVERED BACK??
I have been in a financial mess for the past months, I’m a single mum with kids to look after. My sincere gratitude to the woman who commented on how she used GEO COORDINATES RECOVERY HACKER to recover her bitcoin and returned it to her wallet. I want to use this Medium to say big thanks to GEO COORDINATES RECOVERY HACKER for recovering my stolen crypto worth $750,220 through their illegal hacking and spamming skills. After some scammers gained access to my crypto-wallet and stole all my coins worth over $730,520. I was in great despair due to this situation. I can testify that this recovery agent is really a God sent to me. If you have been scammed off your funds in the past and you are looking for a way to get it back. You can reach out to him via email:
Email: geovcoordinateshacker@gmail.com
Website; https://geovcoordinateshac.wixsite.com/geo-coordinates-hack
WhatsApp +1 (512) 550 1646