Wednesday, June 19, 2024

How Healthy Snack Brands Are Evolving in the Indian Food Industry

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Amidst the rapid expansion of the food industry in India, the healthy food market and associated snack brands must strategically position themselves to thrive over the long term. Embracing this evolving landscape necessitates innovation, differentiation, and collaboration, as brands try to capitalize on the burgeoning healthy food revolution. This entails integrating traditional cultural experiences with contemporary consumer preferences to meet evolving market demands effectively.

The Indian food industry stands as a cornerstone of the nation’s economy, continually adapting to meet evolving consumer needs. The onset of the COVID-19 pandemic catalyzed accelerated transformations across various sectors, including food, prompting businesses to reassess strategies and consumers to alter their consumption habits accordingly.

In light of these developments, it is imperative to discern the emerging trends and potential opportunities within the Indian food industry. Market expansion is attributed to several factors, including a growing consumer preference for healthier alternatives such as nuts and dried fruits, as well as heightened expenditure on healthcare, propelled by rising personal incomes, particularly among millennials. Moreover, the industry’s growth is facilitated by the increased penetration of e-commerce into the health-food sector, enabling numerous new brands to efficiently engage with consumers via digital platforms.

According to a report by Avendus Capital, investments in health-focused food and beverage businesses in India are projected to double over the next five years, with the market expected to reach $30 billion. This growth surpasses global averages, highlighting India’s position as a rapidly expanding health food market.

Brands must make the most of this revolution by riding on contemporary fashion waves and constantly innovating and diversifying their product offerings. What consumers are looking for in snacks goes beyond great taste as they want them to be healthy without compromising on flavour. Leveraging cultural associations has proven to be an effective strategy, with many brands incorporating local and international flavors to appeal to diverse palates. Furthermore, nuts and dried fruits have experienced growth as customers become more discerning of the foods they eat. Transitioning from traditional methods presents a cost-effective opportunity for businesses to embrace healthier alternatives.

General/Traditional Trade channels play a crucial role in maintaining connections with our local market roots. Similarly, Modern Trade (MT) and its extensive e-commerce network are like Batman and Robin who seem ubiquitous all over India. Brands need a set of strategies that will ensure their products reach every corner of the country.

Strategic partnerships with retailers, healthcare professionals, and culinary experts can enhance brand visibility and loyalty within the health-focused market segment. Consider, for example, our partnership with renowned culinary expert Chef Kapoor, whose skills and discerning palate is helping to elevate our brand to new heights. This collaboration is not just for perspective but for creating a community that balances health and taste.

In conclusion, healthy snack brands must position themselves as mission-driven organizations that support sustainability, culinary innovation, and wellness. Through consistent product offers and alignment with consumer values, these brands may foster a devoted customer base and propel growth within the ever-evolving Indian food sector.

The author is Founder and CBO, Proventus Agrocom Limited (ProV Foods), an overarching commodities firm, providing a diverse range of dry fruits, nuts, and seeds.

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