India Chips Snacks market is projected to grow at a CAGR of 9% in forecasted period: Bonafide Research
Nov, 30

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India Chips Snacks market is projected to grow at a CAGR of 9% in forecasted period: Bonafide Research



"For long, chips and wafers have been the most preferred snacking option on varied occasions (and, well, even non-occasions). The road to how each snacking variant was developed and distributed (largely by multinational companies) across markets has been exciting. But what takes longer is for a multinational to innovate and provide localized flavours an opportunity that local chips manufacturers have latched onto in India."

According to the report on 'India Chips Snacks Market Overview, 2022-2028' published by Bonafide Research, the overall market of Chips is expected to rise up to more than 9% in the forecast year 2027-28, Chips Market of India Classified into Potato Chips, Banana Chips, Multigrain Chips, Tortilla Chips, and others Chips. Potato Chips are a well-known Category in the Chips Market Contributing more than 80% of the total market followed by the Banana Chips Market. On Other hand, tortilla Chips (Nachos) are the Premium Category of the Chips market. With the entry of Doritos and Too Yumm, the market will be more competitive in the forecasted period. Slowly and steadily, local and regional brands have made their place on the store shelf and eventually, the kitchen shelf. And the distribution is something to speak of from kiosks and carts at railway stations to the neighborhood of Paan Wala, local chips brands are everywhere. Growth will come from rising disposable incomes, changing lifestyles, product innovation, and strengthening of distribution to have better selling opportunities in lower-tier cities and rural areas.

A busy lifestyle coupled with long working hours has forced people to shift from elaborate luncheons and meals to desk snacks and packaged foods. Snack companies are branching out from original recipes and launching line extensions that deliver interesting ingredients, flavors, and textures to consumers looking for new experiences or alternative ingredients for health reasons. The major players ruling the packaged Chips market in India are, PepsiCo – the market leader with its Lay’s, Uncle Chips, and Doritos brands Haldiram, Balaji Wafers (Balaji), Parle (Hippo, Parle), ITC (Bingo), Bikaji, Bikanervala, Prataap Snacks (Yellow Diamond), and DMF (CRAX) amongst others. Apart from these, there are a large number of regional players doing wonders in their respective territories and exporting globally.

Major Companies
Major brands that operate in the Indian Chips market are ITC Limited, Balaji Wafers, Bikanerwala, Laxmi Snacks, Parle, Prataap Snacks, PepsiCo, and others, etc.