RNCOS White Paper: Spurring Growth Opportunities in Indian Packaged Snacks Market

NOIDA, India - Nov. 21, 2017 - PRLog -- The packaged snacks market is growing extensively in India. According to a recent analysis conducted by RNCOS, the packaged snacks market has registered double-digit constant value growth in 2016, in line with its performance over 2011-2016. The strong growth in packaged snacks market is driven by increased penetration of packaged snacks in India, which reflects the quickly changing snacking patters of Indian consumers from homemade traditional snacks to a better quality branded packaged snacks. Furthermore, the introduction of local flavor variants and products represents an attempt by manufacturers to encourage consumers to switch from unpackaged snacks to packaged and branded alternatives. The other factors contributing to its growth include product innovations, convenience with taste, and Extruded snacks that have widened the consumer base for the packaged snack industry players.

According to RNCOS analysis, the extruded snacks market in India is projected to grow at a CAGR of more than 11% during 2016-2021. Growth in the market can be majorly attributed to increasing population, increasing per capita income of people living in urban, semi-urban and rural regions of the country, introduction of regional flavors by the leading players. Kids and young population remains the target consumer for the major players operating in the market. Moreover, the players in the extruded snacks industry are also taking strong marketing initiatives to cater the target consumer segments. For instance, extruded snacks players plan to introduce healthy snacking options in the menu to cater the taste buds of health conscious customers. This segment also focuses on spreading awareness through TV campaign to highlight its new product range and intends to bring in one new flavor as 'flavor of the month'.

Analyzing the huge market potential, Shushmul Maheshwari, CEO - RNCOS revealed that  Branded Snacks manufacturers are realizing this potential of rural India and are trying to expand their presence in these areas. But when talking about tier II and tier III cities, we know the fact that there are very few branded snacks manufactures. So, I expect the next phase of revolution (in terms of growth) in the snacks market to come from rural areas and tier-II & III cities.

With more than a decade of experience in Food and beverages industry, RNCOS can act as your growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help make your business flourish by studying the market dynamics, collating with your business and devising the right strategies.

Download the white paper from this link: http://rncos.viewpage.co/Indian-Snacks-Market


ABOUT RNCOS

RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.