India Extruded Snacks Market to Grow with a CAGR of 6.4% through 2028
The India Extruded Snacks market is driven by a combination
of factors, including changing lifestyles, rising incomes, and a continuous
stream of innovations in product development and marketing.
According to the TechSci
Research report, “India Extruded Snacks Market –Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2019-2029F”, the India Extruded Snacks market stood
at USD542 million in 2023 and is anticipated to grow with a CAGR of 6.4% in the
forecast period, 2025-2029. The India Extruded Snacks Market is a vibrant and
rapidly evolving segment within the country's expansive snacks and convenience
food industry. Extruded snacks have become an integral part of the Indian snack
culture, offering a diverse range of flavors, shapes, and textures that cater
to the palate of a vast and diverse consumer base.
The story of extruded snacks in India
begins with the advent of modernization and urbanization in the
post-independence era. As the country underwent significant socio-economic
changes, including the rise of nuclear families, increasing urbanization, and
greater disposable incomes, the demand for convenient and ready-to-eat snacks
witnessed a remarkable surge. Extruded snacks, a category that includes
products like potato chips, namkeens, and puffed snacks, swiftly gained
popularity as they offered consumers a convenient and flavorsome snack option.
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Rapid urbanization, coupled
with the demands of modern lifestyles, led to a shift in dietary preferences.
Consumers increasingly sought snacks that were convenient, portable, and suitable
for on-the-go consumption, making extruded snacks a natural choice.
Additionally, the liberalization of the Indian economy in the 1990s opened
doors to international snack brands and flavors, influencing local snack
manufacturers to innovate and diversify their product offerings to meet the
evolving tastes of consumers. Furthermore, the expansion of retail
infrastructure, including supermarkets, hypermarkets, convenience stores, and
online platforms, provided a wider distribution network for extruded snack
products, making them easily accessible to consumers.
Both established and
emerging snack brands invested heavily in product development, branding, and
marketing to capture a share of the growing extruded snacks market. The market
became increasingly competitive as numerous brands vied for consumer attention.
Additionally, consumer preferences for diverse flavors and healthier snack
options prompted manufacturers to introduce a wide range of extruded snack
varieties, including regional flavors, spicy concoctions, and healthier
alternatives. Furthermore, technological advancements in extrusion technology
and snack processing led to the creation of new and exciting snack textures and
forms. These innovations expanded the possibilities for snack manufacturers.
India's diverse population,
spanning various age groups, regions, and cultural backgrounds, contributes to
a broad and varied consumer base with distinct taste preferences. Manufacturers
must cater to this diversity by offering a wide range of snack options.
Additionally, rapid urbanization has led to busy lifestyles, with consumers
seeking convenient and quick snacking solutions. Extruded snacks fit the bill,
providing a ready-to-eat option for urban dwellers. Furthermore, the market is
highly competitive, with numerous national and regional brands competing for
market share. This competition has led to continuous product innovations and
marketing strategies to capture consumer attention.
Flavor innovation is a key
driver of growth. Manufacturers introduce new and exciting flavors to keep
consumers engaged and curious, leading to a constant influx of novel snack
options. Additionally, health-conscious consumers seek healthier snack
alternatives. Manufacturers have responded by introducing baked, multigrain,
and low-fat variants, addressing the demand for more nutritious snack choices.
Furthermore, the expansion of modern retail outlets and the growth of
e-commerce have made extruded snacks more accessible to consumers across urban
and semi-urban areas, contributing to market expansion.
The India extruded snacks market
is segmented based on type, sales channel, and region.
Based on the type, the market is
segmented into potato, corn, rice, tapioca, mixed grains, and others. Among these,
rice extruded snacks have a significant share in the India extruded snacks market
during the forecast period. These snacks, often referred to as rice puffs or
rice-based extruded snacks, have gained immense popularity among Indian
consumers due to their unique taste, light and crunchy texture, and versatility
in flavors.
Based
on region, the market is segmented into North, South, East, and West. Among
these, the North region has a significant share of the India extruded snacks market
during the forecast period. The North region is home to several densely
populated urban centers, including Delhi, Noida, and Gurugram. This dense
population, characterized by diverse tastes and preferences, drives the demand
for extruded snacks, which are popular among both urban and semi-urban
populations.
Major companies operating in the India extruded
snacks market are:
- ATOP Food Products
- AUEVSS Limited (Fryo Potato Chips)
- Balaji Wafers Pvt Ltd.
- Bikaji Foods International Ltd.
- Bikanervala Foods Pvt Ltd (Bikano)
- ITC Limited
- Ceeta Industries Ltd.
- Crave Eatables
- DFM Foods Ltd
- Pepsico India
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“The India Extruded Snacks Market is a
dynamic and ever-evolving segment within the snacks and convenience food
industry. Shaped by changing lifestyles, consumer preferences, and intense
competition, this market continues to grow and adapt. As consumers seek more
diverse, flavorful, and health-conscious snacking options, manufacturers have a
vital role to play in meeting these evolving demands. With innovation,
regulatory compliance, and an eye on emerging trends, the future of the India
Extruded Snacks Market promises to be as exciting as its flavorful array of
snack offerings.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“India Extruded Snacks Market By Type (Potato, Corn, Rice, Tapioca,
Mixed Grains, and Others), By Sales Channel (Supermarkets/Hypermarkets,
Convenience Stores, Online, and Others), By
Region, By Competition Forecast & Opportunities, 2019-2029F, has evaluated the future growth potential of the India extruded
snacks market globally and
provides statistics and information on market structure, size, share, and
future growth. The report provides cutting-edge market intelligence and helps decision-makers
to make sound investment decisions. Besides, the report also identifies the
emerging trends along with essential drivers, challenges, and opportunities
present in the India extruded snacks market.
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