Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food market in India's Confectionery & Snacks Market is facing subdued growth due to factors such as changing consumer preferences, increasing health consciousness, and the convenience of online food delivery services. Despite this, the market is expected to experience moderate growth, driven by the demand for innovative and healthier snack options.
Customer preferences: Consumers in India are increasingly gravitating towards healthier snacking options, driving the demand for vegan, gluten-free, and organic snacks. This shift is fueled by the growing awareness of the benefits of clean and natural ingredients, as well as the rising prevalence of lifestyle diseases. Additionally, the trend of snacking on-the-go is gaining traction, with busy urban consumers preferring convenient and portable snack options over traditional sit-down meals.
Trends in the market: In India, the Snack Food Market of the Confectionery & Snacks Market within The Food market is experiencing a rise in demand for healthy and nutritious snacking options. Consumers are increasingly looking for snacks that are low in calories, fat, and sugar, and contain natural and organic ingredients. This trend is likely to continue as health and wellness consciousness grows among consumers. Industry stakeholders should focus on developing and promoting healthier snack options to capitalize on this trend. Additionally, there is a rising demand for traditional and regional snacks, providing an opportunity for manufacturers to cater to the diverse tastes and preferences of Indian consumers.
Local special circumstances: In India, the Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by the country's diverse cultural landscape. The market is driven by the demand for traditional and regional snacks, such as samosas and chaat, which vary from state to state. Additionally, the country's regulatory environment, particularly the Food Safety and Standards Authority of India, plays a significant role in the production and distribution of snacks, ensuring they adhere to local standards and preferences. The availability of vegetarian and halal options also sets the Indian snack market apart from others.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by macroeconomic factors such as changing consumer preferences, increasing disposable incomes, and urbanization. These factors have led to a rise in demand for convenient and on-the-go snacking options, driving market growth. Moreover, the growing trend of healthy snacking and the introduction of innovative and premium snack products have also contributed to market growth. However, fluctuations in raw material prices and changing regulations on food labeling and safety could potentially hinder market growth. Additionally, the impact of the COVID-19 pandemic on global economic trends and national economic health has also affected the Snack Food Market, with varying levels of demand and supply disruptions across different regions.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
