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.
A Life-Changing Experience, Dr Kachi A Testimony of Gratitude
I would like to share an extraordinary experience that has transformed my life. I came across a remarkable testimony online forum about a powerful and renowned spell caster, Dr. Kachi. At the time, I was skeptical because I had never encountered anything related to magic or spell casting before. However, the story of Dr. Kachi’s work resonated with me, and I decided to give it a chance. For years, my family and I struggled financially, and despite my best efforts, I never had luck winning the lottery. I loved playing, but winning seemed impossible. Everything changed when I connected with Dr. Kachi, who provided me with a winning lottery number through a powerful spell. In just 24 hours, I was able to play the lottery and won the Lotto 6/49 prize, a remarkable $68 million cash prize, on September 27th in the Gold Ball Draw. This incredible win has completely changed my life and the financial well-being of my entire family. After 10 years of trying unsuccessfully, I am now living my dream life. I am beyond grateful to Dr. Kachi for his assistance, Dr. Kachi has truly been a blessing to me and my loved ones. I encourage anyone who is interested to reach out to Dr. Kachi for guidance. his website https://drkachispellcaster.wixsite.com/my-site or email drkachispellcast@gmail.com Also reach him text or call +1 (209) 893-8075 Thank you once again, Dr. Kachi, for making my dreams come true.