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The namkeen market in India is estimated to grow at a CAGR of 8.42% between 2023 and 2027. The size of the market is forecast to increase by USD 3,162.26 million. The growth of the market depends on several factors, including rising retail space in Tier-II and Tier-III cities of India, evolving taste preferences, and a growing preference for savory snacks.
This report extensively covers market segmentation by type (Indian and ethnic snacks and western snacks), and distribution channel (offline and online). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing demand for growing retail outlets in Tier-II and Tier-III cities of India is notably driving the market growth during the forecast period, although factors such as the availability of a wide range of substitute products may hamper the market growth during the forecast period. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing demand for growing retail outlets in Tier-II and Tier-III cities is notably driving the demand for Namkeen products during the forecast period. Indian cities such as Lucknow, Jaipur, Udaipur, and Patna are experiencing increased consumption of retail snacks such as Namkeens. Also, the rise in the per capita income of these cities has pushed retail outlet chains such as Big Bazaar, Reliance Fresh, D Mart, and others to open stores in these cities. For instance, as of 2021, Reliance Retail had increased its reach to up to 2,000 Indian cities, with tier-II cities accounting for about 50% of average sales.
In addition, compared to online shopping, people tend to spend more money on food and drinks at stores, supermarkets, and hypermarkets. Hence, a number of vendors are opening offline stores in India. For instance, BigBasket, a company owned by the Tata Group, inaugurated its large-scale supermarket format in Hyderabad in December 2022 after entering the offline retail sector in Bengaluru in 2021 with tech-driven, self-service stores. Thus, India's expanding retail space and rising purchasing power will drive demand for Namkeens during the forecast period. These elements thereby fuel the expansion of the targeted market over the forecasted period.
The growth of online channels is a new trend shaping the India Namkeen Market growth during the forecast period. The rising interest of consumers and preference for online buying due to convenience is further driving the sales of Namkeen through the online channel. As a result, Namkeen vendors in India, such as Parle and PepsiCo Inc. are undergoing partnership and collaboration with online retailers such as Amazon.com Inc. to sell their Namkeen on their e-commerce platforms, which encourages vendors to concentrate on the internet-savvy consumer segment and explore new online retail formats.
Also, since the pandemic in 2021–2022, people working from home in India have been observed to have smaller meals, preferably Namkeens, exclusively. There has been a sharp increase in the number of new start-up companies selling Namkeens, such as Snackible, innovate snacks, and others, as a result of increased demand. The majority of companies solely market their products online. Over the forecast period, these factors are anticipated to foster the Namkeen market's expansion in India.
The availability of a wide range of substitute products is a challenge that may hinder the market during the forecast period. There are many substitutes available for Namkeen. Fried and baked snacks can substitute Namkeen in the Indian market. Vendors offering these substitutes, such as baked snacks, are focusing on launching new product varieties and product expansion in flavoring and value-added ingredients. Moreover, baked snacks have been gaining popularity among health-conscious consumers, which is posing a threat to the Namkeen market in India.
Consumers are being encouraged to move from Namkeens because of the variety of health benefits that these alternatives offer and the minimal switching expenses that they incur. For instance, baked snacks are preferred to Namkeens as healthier snacks. As a result, over the predicted period, people are likely to purchase products like baked snacks. In India, several vendors have been providing alternatives to Namkeens. For instance, the snack company Too Yum offers baked wafers and savory sticks in place of Namkeens. As a result, it is anticipated that the presence of alternatives will restrain India Namkeen Market expansion throughout the projection year.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Namkeen Market in India Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Haldiram Foods International Pvt. Ltd - The company offers a wide range of products such as sweets, savories, beverages, cookies, ready-to-eat snacks, dry fruit gift boxes, and many more. The company offers Namkeens such as Nut Cracker.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the Indian and ethnic snacks segment will be significant during the forecast period. The Indian and ethnic snacks include a variety of snacks such as farsaan, chiwda, sev, neyappam, bhujia, and mathri. Indian and ethnic snacks were traditionally prepared in households and can be preserved over a longer period of time.
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The Indian and ethnic snacks segment shows a gradual increase in the market share of USD 3,105.28 million in 2017 and continued to grow until 2021. There are more than 1,000 types of Indian snacks available in India, with various flavors, shapes, sizes, textures, scents, bases, and fillings. In addition, India sells more than 300 different kinds of Indian and ethnic snacks locally and internationally.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the Namkeen market in India as a part of the Packaged Foods & Meats market. The global packaged foods and meats market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Namkeen Market Scope in India |
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Report Coverage |
Details |
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Page number |
119 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.42% |
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Market growth 2023-2027 |
USD 3,162.26 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.87 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ashok Masale, Babaji Snacks Pvt. Ltd., Balaji Wafers Pvt. Ltd., Bikaji Foods International Ltd., Bikanervala Foods Pvt. Ltd, Bikharam Chandmal, Desai Brothers Ltd., Gopal Snacks Pvt. Ltd, Haldiram Foods International Pvt. Ltd, ITC Ltd., JABSONS COTTONSEED IND. PVT. LTD., Maa Laxmi Namkeen, Maxvita Foods Pvt. Ltd., Parle Products Pvt. Ltd., Patanjali Ayurved Ltd., Prakash Namkeen Udyog, Prataap Snacks Ltd., Priniti Foods Pvt Ltd, Shri Ajab Foods Pvt Ltd., and Sonal Foods |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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