The knack of snack perfected by nichrome

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The Knack of Snack: Perfected by Nichrome The ball of innovation keeps rolling in the snack industry. Whether it is a new flavor or a product variant, a healthy option or a new entrant from overseas, manufacturers continuously introduce novel offerings to make the most of the exciting prospects in India. Snacks used to be an occasional indulgence. Or a munch between meals, primarily at tea time. But today, snacking is synonymous with a ‘fourth meal’. The industry is booming worldwide, with India leading the way. In the savoury snacks market for instance, the Indian market has been forecasted to have the highest growth among all the other countries in the world – 16.6 percent between the years 2015 and 2020. Snack is described as a small quantity of food eaten between meals or in place of a meal. Snack food generally comprises bakery products, ready-to-eat mixes, chips, namkeen and other light processed foods. . Though very large and diverse, the snacks industry is dominated by the unorganized sector. Potato chips are the bestselling snack in India. Yet according to an Apeda survey, almost 1,000 snack items and300 types of savouries are sold across India. The variety is almost mindboggling with specialties from all regions, which have gained national acceptance. The industry has been growing around 10% for the last three years, while the branded segment is growing around 25% per annum to stand at Rs 5,000-Rs 5,500 crore, due to various reasons like Multiplex culture, snacking at home while watching TV, pubs and bars (where they are served free). AC Nielsen's retail audit shows that the large sales volumes are due to a marked preference for ethnic foods, regional bias towards indigenous snacks and good value-for-money perception. Of course the branded segment is much smaller at Rs 2,200 crore, which is what makes it so attractive to food companies that are looking at bigger shares. In the branded snacks market, Frito Lay commands a share of 45%, followed by Haldiram’s at 27% and ITC at 16%. Hectic lifestyles, urbanization, increase in purchasing power, growth in female work population, expansion of nuclear families and growing concerns of hygiene have led to the


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The knack of snack perfected by nichrome by Nichrome India - Issuu