Kellogg’s seeking partnership with Haldiram’s in India’s snacks market
US-based breakfast grain mammoth Kellogg intends to give a desi bend to its Indian operations. Over two decades subsequent to setting foot in India, the Michigan based organization has kick-began exchanges with notable home-developed snack producer Haldiram’s for a super union.
Kellogg is keen to diversify beyond its core breakfast cereal category and enter the ethnic snacks & sweets segment and has initiated talks to invest a ‘significant’ amount in the Delhi & Nagpur arms of Haldiram’s. Haldiram’s wants to scale up their domestic business & also improve global presence. The proposed transaction is limited only to the packaged products business of Haldiram’s. Top snack maker Haldiram’s has three areas of operations with Haldiram’s Snacks and Ethnic Foods, which clocked around Rs 2,000 crore from the north last year, Nagpur-based Haldiram’s Foods International that caters to western and southern Indian markets with annual sales around Rs 1,600 crore and Haldiram Bhujiawala, for the eastern market with revenues around Rs300 crore in 2016.
In the Asia Pacific region, cereal growth was led by India & Korea, according to the 2017 annual report of Kellogg. The Indian operations have been clocking double-digit growth over the past seven years. Kellogg quoted “The food culture in India is evolving in a big way. We are getting our teams at the cutting edge of food evolution in the country to understand how the Indian palette is changing. Our strength is in the area of grains. That’s what we do best.”
Bonafide Research has published a new research report “India Extruded Snacks and Chips Market Outlook, 2023”. The report provides a deep analysis of India extruded snacks and chips market with size in terms of both value and volume of extruded snacks and chips market and also provides market share of different segments. The report formed by segregating data from various sources and various time frames. It consists of various historic data and based on the current situation of the market and key factors provide forecast based on the best suitable method. This could defiantly be helpful in identifying the market segments which are driving growth. The report consists of profiles of leading companies and provides the market share of their brands which would be helpful in examining market competition as well.
Both the Extruded snacks and Chips market has shown CAGR of more than 9% in the Forecasted period. Increasing consumer’s awareness of healthy and packaged snacks has created a huge demand for Extruded Snacks and Chips in the last five years. The market is so diverse that it can be classified based on the product base as well. For example; potato, rice, corn, cereals & pulses, gram flour, nuts and seeds based and the flavor/taste-based such as salty, tangy, spicy, onion, garlic, or cheese. With the entry of global and regional players that have the capacity for R&D and capital to spend on understanding consumers, they can come up with new segments to satisfy the tastes and preferences of Indian consumers. As Indians are known for their affection towards local culinary taste and flavours, these players come up with a third type of savoury called “bridge snacks” meaning taste and flavour is local but the product format adopted is western. With higher purchasing power resulted due to the high economic development of India has resulted in changing preference of Indian consumers. The consumers are observed to be preferable from traditional snacks to western snacks of regional, national brands. PepsiCo, ITC, Parle, Prataap Snacks, Balaji Wafers, Haldiram are some leading existing players in Extruded and Chips Snacks Market.
The India chips market has shown remarkable growth in the past couple of years. The market is forecasted to grow with a CAGR of more than 9% in near future. Currently, the growing young population (below 15 years) represents a key segment for the potato chips market. Major factors driving the global demand for potato chips are growing urbanization, rise in disposable incomes and rapidly changing lifestyles. 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, flavours and textures to consumers looking for new experiences or alternative ingredients for health reasons. Existing players include PepsiCo, Balaji Wafers, Prataap Snacks, Haldiram, who are some leading players in Chips Category.
