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Binge eating disorder by todays millenial of extruded snacks to boost up the revenues significantly by 2023 : Actual Market Research
Oct, 30
2018

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Binge eating disorder by todays millenial of extruded snacks to boost up the revenues significantly by 2023 : Actual Market Research

 

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With the advancement of technology urbanization increase in purchasing power growth in female work population expansion of nuclear families has augmented the business of the packaged snack food and attracted a large mass toward the snack market in India._x000D_
The meaning of snack has been redefined from chips and cookies to beverages mini-meals and even three items on the plate. There is a rise in demand of snacks market which drives manufactures to grow and operate in this segment lucratively. Due to the busier lifestyle in the recent past the demand for convenience products has increased a lot with the thrust of packaged food in India. In order to save time people are gradually shifting to ready to eat food items. And the growth rate of the packaged food market has been remarkable in last five years. The food industry has expanded at the rate of 15.6% over the last few years. The consistent growth rate presently outlooks for driving growth in future too._x000D_
According to Recent Published Report of Actual Market Research "India Extruded Snacks & Chips Market Outlook 2023 " India extuded snacks & chips saw a grow rate of 8.78% from 2012-13 to 2017-18. Furthermore the India Snacks Market is expected to reach INR 92669 Crore in 2022-23. Currently the unorganized market dominates the India snacks market but this scenario is expected to change during the forecast period of 2018-2024. Snacks market in India is growing because of several factors like lifestyle changes rising urbanization growing middle class population local availability and availability of snacks in small package size low price and companies strategies to focus on regional taste. Large Number of players working in the India snacks market but their presence is limited within a town city or a particular area. Logistics is restricting them to particular region only option for expansion is by opening new production facilities which is not possible for every player. In India a giant share of the packaged nankeens/snacks market is enjoyed by Haldirams which caters to all the states of the country._x000D_
Traditional and western snacks have become part of the daily diet for rural and urban kids in India. Working parents prefer to buy the branded chips and snacks as they believe that these are prepared hygienically and will provide some amount of energy and nourishment that the children are deprived of because of their parents busy schedules. Fortunately all the tested products were endorsed as hygienic and as far as being healthy the manufacturer were playing with words ?€“ ?€?no added msg?€™ ?€?edible oil?€™ ?€?iodized salt?€™. So many different names confusing even educated consumers searching for definition of these words in dictionaries rather than being able to make a quick decision as to which product is most suited for them. Moreover Companies adding flavours in savoury snacks are main reason that taste contributes the most. Flavours like Cream n Onion Jalapeno Chilli Tadka barbeque etc. are attracting consumers in Indian Market in the recent past. _x000D_
Major Companies_x000D_
Major brands that operate into India Extuded Snacks & Chips Market are Balaji Haldiram Bikaji Bikanervala DFM foods Laxmi Snacks Prataap snacks ITC PepsiCo_x000D_