With the unprecedented Covid-19 pandemic, we have witnessed a few industries collapse, a few diversify, a few strive to stay afloat and a few that have seen a boom. The snacking industry is one such industry that has flourished in recent years and has seen a massive upsurge in the demand for snacking products in India. The Indian snack market will grow to more than INR 1 Billion by the end of 2024 and is expected to clock a double-digit CAGR for the 2018-2024 period.
Through the years, there has also been a major shift in the snacking category. Consumers are now moving to a healthier way of living and conscious eating. This has helped to build the momentum for the healthy snacking category.
The changing consumer choices and the varied taste of millennials have acted as the catalyst for fostering this shift. With the trend of new-age healthy food culture catching on and with the emergence of health-conscious snack lovers, there is more demand for healthy snack options.
In recent years, we have seen a lot of brands introduce various healthy snacking options for the Indian population. But amongst all the healthy munchies options being introduced, we have seen popcorn emerge as a popular snack in India. As per an online report, the global popcorn market is projected to reach $15billion by 2023, registering a CAGR of 7.6 percent from 2017 to 2023.
Popcorn is a healthy and nutritious alternative to chips and cookies. It is cost-friendly, easy-to-prepare and an integral part of the entertainment and snacking experience. As the audience today is moving to healthier options and ready to experiment with different flavours, we have seen various players like Pipo, Act 2, Popcorn & Company capture the popcorn market.
This story is from the May 2021 edition of Progressive Grocer.
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This story is from the May 2021 edition of Progressive Grocer.
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