Join the WOOB Community TODAY!
Register Now!
Saturday, October 31, 2020

Symega observes the dynamic snack market

Be it addressing that small hunger between meals, the midnight urges to munch something, a small eat to accompany a nice film, or a quick replacement for a meal on a busy day, snacks serve many needs. There is a snack for every mood, sweet for those celebratory moments and savoury to add flavour to life. Snacks are not just about taste but also about texture, the crunch, the smoothness, the shape and so on. Many consumers scan the market for new varieties to try, snacks address the experimental urge of people. Snack foods are designed to be quick, portable and instantly satisfying.

Busy lifestyles and convenient formats have been driving the need for snacks. The Indian snack market can be categorized based on formats such as chips, namkeens, baked food, lightly processed or fried food and ready to eat mixes. Each of these formats is present in many tastes and flavours. Indian snack market is valued at Rs 2,09,556 crore in 2019-20 and is expected to grow at 10.2% until 2025.

Symega closely watches and understands this dynamic snack market. The three big trends which are shaping the Indian snack market are:

Branded products, local varieties

- Advertisement -

Indians have a lot of emotional connect with snacking. Each region has a rich variety of formats and flavours. Snacking evokes images of festivities, celebrations and most of all home. These positive associations keep the market growing at a very healthy rate. Due to the richness of local variety, the snack market was dominated by regional players, but over the last two decades corporate giants have entered this segment in a big way and are locking horns with them. At the same time regional players are pushing back with their own branding efforts. Brands bring the promise of quality and consistency of taste.

Healthy snacking

All the food categories are transforming to serve the new health conscious consumer. The healthy snacking trend initially began with eliminating additional calories and sugars and has now emerged to offering nutritionally balanced and nourishing products. Consumers check labels, and choose products which offer them the best of both health and taste. The healthy snacking trend has led to –

Finding natural alternatives – Food producers are finding natural, clean label alternatives for artificial colours, sweeteners and flavours. A natural tag gets high votes from the consumer.

Nutritionally rich snacks – Consumers are now seeking out snacks which have improved nutritional values. Snacks which can be nourishing are most sought after. Mintel research indicates that more than half of the Indian snack consumers wish there were more healthy snack options. The current pandemic situation has further increased this need. Nutritious snacks give more positive reasons for consumers to indulge in snacking.

Savoury over sweet – The growing health consciousness among consumers has tilted the scales in favour of savoury snacks. According to Euromonitor, Indian savoury snack market is estimated at Rs 33,500 crore and will grow at 22% over the next five years.

According to GlobalData, 24% Indian consumers are buying savoury snacks more than before, during Covid. Staying at home, consumers initially resorted to comfort snacking but have steadily moved on to conscious health snacking.

Baked over fried – The evolved consumer understands the difference between baked and fried snacks and opts for baked variants. Several fried formats are now being developed in baked variants to address the health conscious consumer.

Make it interesting

Snacks is a dynamic market and consumers constantly seek something novel and interesting. With reduced going out during the pandemic, consumers are missing eating out and are attempting to recreate street food at home. Food producers can tap into this gap and offer products in these flavours. Variety in format and taste is appreciated very much by the consumers. Food producers who innovate and come up with fresh concepts and differentiate will win a higher share of the market.

Symega offers a wide range of snack seasonings to address the variety seeking consumer. Their seasonings are grouped under seven versatile categories – desi selections, picklicious, global picks, choice of cheese, hot ‘n fiery, sweet spin and fusion flavours.

- Advertisment -

Latest News

Deliciuos Delight!

Swad, is beyond a regular packaged food brand. It is food filled with taste of love, celebrations, warmth and happiness; power-packed with...

A way to a healthy lifestyle

Basil Group is a family owned business with an established track record in the cotton and chemical industry. They keep identifying the...

Leading business collaborative platform for FMCG, Trace One is leveraging its extensive industry reach with Trace One Marketplace

The pressure on both retailers and CPG firms to meet the constantly changing needs of a demanding consumer base has never been...

Principles of Great Packaging Design.

“Jo dikhta hai woh bikta hai” (What is visible, sells) goes the popular adage. Packaging design’s primary job is to make the...

Safety concerns, ease of online buying to keep Mumbai shoppers away from stores in festive season

Concerns about safety amidst the Covid-19 pandemic along with better pricing and ease of return and refund on buying online may keep...

BigBasket bets on in-house segments, plans to expand private label cart

With demand for private labels seeing a surge on its platform, online grocery BigBasket is betting big on the in-house segment with...

“Our focus is to be an omnichannel retailer,” says Shashwat Goenka, Sector Head (FMCG & Retail), RP – Sanjiv Goenka Group

Spencer’s, the oldest modern retail brand in India, is the pioneer in hypermarkets in India, having introduced the first one in 2001....

Marico logs volume growth, notices revival in consumer demand in Sept quarter

FMCG major Marico said it has witnessed a partial revival in the consumer sentiment in the second quarter of the current fiscal...

Five things on consumption shift during covid

As India moved to prevent the spread of Covid-19 with a lockdown late March, household budgets and consumer behaviour have since shifted....

Festival season sales: Over 50% consumers to shop online, says survey

About 51% of consumers doing festive shopping this year will use e-commerce sites and apps as their primary channel, a sizable change...