NEW YORK, August 17, 2016 /PRNewswire/ --
Increasing population, rising per capita income, coupled with aggressive marketing strategy and introduction of regional flavors to drive India extruded snacks market
According to a recently released TechSci Research report, "India Extruded Snacks Market By Type, By Organized vs Unorganized, Competition Forecast & Opportunities, 2011 - 2021", extruded snacks in India is projected to grow at a CAGR of more than 11% during 2016-2021. Growth in the market can be majorly attributed to increasing population, rising per capita income, introduction of regional flavors and aggressive marketing strategies being adopted by the leading players. Per capita income in India increased from $1449 in 2012 to reach $1661 in 2015, and the same trend is anticipated to continue over the next five years. Increasing per capita income of people living in urban, semi-urban and rural regions of the country is among the major factors driving consumption of extruded snacks. The extruded snacks market is also expected to be positively influenced by anticipated growth in the country's retail market, which stood at an estimated $ 600 billion in 2015 and is projected to grow at more than 8% in the coming years.
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Browse 16 market data Tables and 22 Figures spread through 106 Pages and an in-depth TOC on
"India Extruded Snacks Market"
Major players operating in India extruded snacks market include PepsiCo, Prataap Snacks, ITC, Balaji and Bikanerwala. In 2015, PepsiCo grabbed the lion's share in the country's extruded, and the company is expected to continue its dominance through 2021. West region is the largest demand generating region for extruded snacks in the country. The region accounted for more than one-thirds of the market in 2015, and same trend is expected to prevail in the coming years. Majority of the country's population lives in rural areas, and prefer traditional snacks. Consequently, an increasing number of companies are targeting rural customers by offering extruded snacks with regional flavors.
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"India is one of the fastest growing major economies, and with increasing employment opportunities, high GDP growth rate and rising inflow of foreign direct investment, consumption of extruded snacks is growing. Kids and young population are the primary buyers of extruded snacks and they are also the target consumer segments for the major players operating in the market. Busy lifestyle, rising per capita income, traditional habit of Indians to have snacks, and increasing middle class population make the country a lucrative market for extruded snack manufacturers.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Extruded Snacks Market By Type, By Organized vs Unorganized, Competition Forecast & Opportunities, 2011 - 2021" has evaluated the future growth potential of India extruded snacks market and provides statistics and information on market structure, consumer behavior and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in India extruded snacks market.
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