Market Overview - The Indian snacks market is projected to grow from Rs 46,571 crore in 2024 to Rs 1,01,811 crore by 2033, with a compound annual growth rate of 8.6% [1][24] - The namkeen segment is expected to add nearly $4.5 billion in value by 2029 [1] Legacy Brands - Haldiram's commands approximately 13% of India's savoury snacks market, valued at about $10 billion following Temasek's investment [5][24] - Balaji Wafers reported a profit of Rs 578.8 crore in FY24, with an 11% year-on-year revenue increase to Rs 5,453.7 crore [6][24] - Traditional brands have built empires based on trust, affordability, and extensive distribution networks [6][24] Emerging Startups - Startups like Farmley, founded in 2017, focus on premium, clean-label snacking, appealing to younger, health-conscious consumers [7][24] - Farmley aims to create a pan-India alternative by combining farm-to-fork sourcing and a strong digital presence [8][24] - Other startups, such as Bonvie and SuperYou, are also targeting health-conscious consumers with innovative products [10][11][24] Consumer Trends - 55% of Indians now prefer preservative-free snacks, and 52% prioritize eco-conscious packaging [17][25] - Healthy snacks are growing 1.2 times faster than traditional snacks, indicating a shift in consumer preferences [17][25] - The festive season has intensified competition, with traditional players and startups vying for market share [20][25] Investment Landscape - Global interest in India's snack market is rising, with companies like General Mills and PepsiCo exploring investments in regional brands [14][25] - Temasek's investment in Haldiram's reflects a broader trend of global capital seeking opportunities in Indian snacking [15][25] Cultural Shift - The competition between legacy brands and new startups represents a cultural transformation in snacking habits, with consumers increasingly valuing health and modernity [2][23][24] - The market accommodates both low-cost and premium products, reflecting diverse consumer preferences [22][25]

Core Insights - The 2024 State of Snacking report by Mondelēz International reveals a trend towards mindful snacking, with consumers focusing on flavor, taste, and texture while being present during their snacking moments [1][2][3] Consumer Behavior - The survey indicates that nearly all consumers are managing portion sizes and being attentive while snacking [2] - 96% of global consumers engage in mindful snacking behaviors, and 79% appreciate snacks more when consumed mindfully [7] - 81% of consumers pay attention to the sensory experience of their snacks, savoring the flavor, taste, and texture [7] Portion Control - Over half of consumers seek snacks that are portion controlled, with 69% looking for such options [7] - Mindful consumption is emphasized as a way to enjoy snacks in a balanced manner [7] Company Positioning - Mondelēz International is adapting to evolving consumer preferences by ensuring that every snack provides opportunities for connection and mindfulness [3] - The company reported net revenues of approximately $36.4 billion in 2024, leading the future of snacking with iconic brands [4]