Global discussion of local salty
India's salty and snack market is no longer a matter of eating and drinking, but it has now become a big business. The market which once dominated the country and local brands, now the interest of foreign companies has increased there. America's renowned company General Mills is planning to invest in local companies like Balaji Wafres. At the same time, big companies like PepsiCo and ITC also want a stake in it.
The rapidly growing urbanization and runaway life in India has completely changed people's food habits. People are now liking food items that can be eaten immediately instead of cooking at home for a long time. For this reason, the demand for ready-to-eat snacks is increasing rapidly. Dual-earning families, small houses and people living alone are now mostly dependent on light snacks.
Today's consumer is not just spicy salty or happy with chips, people are now looking for snacks which are better for taste as well as health. Quinoa, millet, roasted seeds, low oil and baked options are becoming increasingly popular in the market.
The rural market of India is no longer as backward, people have increased income here and they are now ready to buy branded snacks. Companies are preparing cheap packets for villages such as 1 rupee, 5 rupees and 10 rupees packs, which fit according to the pockets and needs there.
Seeing the popularity of regional brands like Haldiram and Balaji Wafres, now private investors and foreign companies are ready to invest in these brands. These brands earn good profits at low cost and their local connection is very strong. This makes them easier to enter the new market rapidly.
Although the market is growing rapidly, some problems also remain such as rising prices of raw materials, consumers resentment on reducing gramad and compete with unorganized local brands. Also, strict rules of the government can also create difficulties for small brands.
