Binge eating disorder among today's millennials of extruded snacks is anticipated to boost the overall revenue by the upcoming time frame: Bonafide Research

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.

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 consistent growth rate presently outlooks for driving growth in future too.

According to Recent Published Report of Bonafide Research "India Extruded Snacks & Chips Market Outlook, 2027-28", the market is anticipated to grow with more than 9% CAGR for 2022-28. Currently, the unorganized market dominates the India snacks market but this scenario is expected to change during the forecast period of 2022-28. 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.

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 parent's 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.

Major Companies
Major brands that operate into India Extuded Snacks & Chips Market are Balaji, Haldiram, Bikaji, Bikanervala, DFM foods, Laxmi Snacks, Prataap snacks, ITC, PepsiCo