Mumbai, November 12 (IANS). A report has revealed that due to increasing demand for health-oriented products by urban consumers, smart snacking in India has grown 1.2 times faster than traditional snacks.
Nearly 63 percent of consumers surveyed want new and healthy snacking options, while 50 percent read ingredient labels with nutritional value in mind, reports consumer intelligence company NielsenIQ (NIQ).
Sonika Gupta, Executive Director, Customer Success – India, NIQ, said, “One in five snacks in the country is now linked to health. “This segment is growing 1.2 times faster than traditional snacks in value terms, creating opportunities for brands to innovate in health-centric products and capitalize on consumption trends.”
The trend toward health-focused products is clear in consumer technology. Fitness wearables saw a growth of 59 per cent, while hot air fryers grew by over 100 per cent, indicating that people have become more health conscious.
India has emerged as the second largest market (in terms of snack and confectionery industry) in the Asia-Pacific region. This is changing as demand for health-oriented products from urban consumers increases.
The rise in lifestyle diseases has driven Indian consumers to choose snacks that match their health goals.
Research has shown that 84 percent of urban Indian consumers surveyed exercise daily or regularly to stay fit and 48 percent use fitness or exercise apps.
Small and new emerging companies are giving a tough challenge to the already existing companies in the market with single-serve packs, due to which the demand is increasing. Due to competitive pricing policies, the market is witnessing a growth of 60 percent in smart snacking.
The growth of the smart snacking segment is driven by double the consumption rate compared to the normal snacks market.
-IANS
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