India leads the way for meat, ethnic and pretzel snacks – Datamonitor

In the next four years India will lead the way in terms of meat, ethnic and pretzel snacks according to Datamonitor research.

The report: Other Savoury Snacks in the BRIC (Brazil, Russia, India, China) Countries – Market Overview and Forecasts to 2014, predicts that India will be the most lucrative destination in terms of revenue and volume growth over the forecast period.

The term “other savoury snacks” refers to meat snacks, ethnic snacks and pretzels.

India was the fastest growing country with a Compound Annual Growth Rate (CAGR) of 16.4 per cent from 2004 to 2009, said the market analysis provider.

Datamonitor forecasts the market in India will grow at a CAGR of 13.4 per cent between 2009 and 2014, to reach a value of $357.2m at the end of the forecast period and will record the highest growth rate compared to the other BRIC countries and the US, Japan, Germany, UK, and France the top five countries for market value in 2009.

Furthermore, the market is estimated to increase by $166.4m in sales over the 2009−14 period, predict the analysts.

In India, in terms of volume, these snacks totaled 45m kg in 2009, valued at $190.8m.

Shift in diet patterns

A previous Datamonitor report observed a gradual shift in Indians' dietary intake patterns, which the analysts note has resulted in a greater number of snacking occasions and a demand for a greater variety of snacks.

According to the research, snacks have been a part of the Indian culture for a long time and were earlier associated with leisurely consumption. But Datamonitor said the purpose of snacking there has now evolved to be more individualistic in nature.

“Consumers are now demanding snacks that are convenient, satiating and suitable for out-of-home/on-the-go consumption,” said the report.

There is a marked preference for ethnic Indian flavours among a large percentage of Indian consumers and therefore marketing claims related to authenticity and originality have a strong influence on the consumers' product choices, added Datamonitor.