GSK Leading India Malted Food Drinks Market Growing at CAGR 16.5%
Rising disposable income, changing lifestyle coupled with increasing
awareness about the benefits of malt based drinks to drive India malted food
drinks market through 2022
According to a report released by
TechSci Research, “India
Malted Food Drinks Market By Product Type, By Distribution Channel,
Competition Forecast & Opportunities, 2012–2022”, India malted food
drinks market is anticipated to grow at a CAGR of 16.5% during 2017-2022. With increasingly
hectic lifestyle and rising health consciousness, a growing number of consumers
are opting for easy and hassle-free alternatives to fulfil their daily nutrient
requirements. This is paving way for malted food drinks that are not only fortified
with essential nutrients but also satisfy the taste buds and are easy to
consume. Moreover, with rising disposable income and improving living standards
in India, people are becoming more inclined towards convenience products such
as malted drinks. Additionally, leading manufacturers increasing their focus on
innovative product offerings and efficient product packaging to attract
consumers, is also expected to contribute to the growth of India malted food
drinks market in the coming years.
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On
the basis of type, malted food drinks are broadly segmented into two types,
namely, ‘with cocoa powder’ and ‘without cocoa powder’. ‘With cocoa powder’
segment dominated the India malted food drinks market in 2016, primarily on
account of higher preference for chocolate flavor among children. Among regions, south region has
dominated the malted food drinks market in India, on the back of high literacy rate
in the region and comparatively higher penetration of malted food drinks
manufacturers in the region’s rural pockets.
Malted food drinks are majorly sold
through independent small grocers, thereby making it the dominant distribution
channel in India malted food drinks market. However, with increasing penetration
of internet and continuing expansion of the organized retail sector, the sales
of malted food drinks from other sales channel, apart from the independent
small grocers, is also growing. GlaxoSmithKline Consumer Healthcare Ltd. is the
market leader in India malted food drinks market, followed by Mondelez India
Foods Private Limited, Kraft Heinz India Private Limited, Nutricia
International Pvt. Ltd. and Abbott India Limited.
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“Rising health awareness among people is
expected to contribute to the growing demand for malted food drinks, as they
fulfil the daily requirement of nutrients. Moreover, with busier schedule of working population in India, demand
for convenience food and beverages is rapidly rising, thereby further fueling
demand for malted food drinks. Furthermore, increasing focus on innovation in
flavors and packaging of malted food drinks by the major malted food drink
manufacturers is anticipated to positively influence the market in the
coming years”, said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“India Malted Food Drinks Market By Product
Type, By Distribution Channel, Competition Forecast & Opportunities,
2012–2022” has
evaluated the future growth potential of malt food drinks market and provides
statistics and information on market structure, size, share and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in India malted food drinks market.
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