Global Namkeen Market Size To Exceed USD 27.88 Billion By 2033 | CAGR Of 4.94%
Category: Food & BeveragesGlobal Namkeen Market Size To Exceed USD 27.88 Billion By 2033 | CAGR Of 4.94%
According to a research report published by Spherical Insights & Consulting, the Global Namkeen Market is Expected to Grow from USD 17.21 Billion in 2023 to USD 27.88 Billion by 2033, at a CAGR of 4.94 % during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 118 Market data tables and figures & charts from the report on the "Global Namkeen Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Potato Chips, Extruded Snacks, Nuts, Seeds, Others), By Flavor (Salted, Spicy, Sweet, Sour, Others), By Packaging Type (Pouches, Tins, Bags, Others), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Traditional Stores, Other), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/namkeen-market
The namkeen market is the industry that deals with the production, distribution, and sale of savory snack food items. Namkeen is a well-known savory food category from the Indian subcontinent. Namkeen refers to an assemblage of crunchy, spicy, or sour kinds of snack food that are usually eaten with tea, as an accompaniment to meals. Namkeen snacks are also distinguished by an immense variation in the flavor, texture, and ingredients employed, which results in a great variety of taste sensations. Namkeen is loved by people of all ages and is especially in demand during festive occasions and festivals. Moreover, rapid urbanization and busy and active lifestyles have raised the demand for easy-to-eat snacks. Namkeen is a quick solution for people who want munchies in between times on the go. Companies are now constantly working toward different flavors and ingredients and healthy items like baked and low-calorie namkeen. This attracts a wider audience, including health-conscious consumers. Consumers are nowadays adventurous and willing to explore wider options, including different regions, contributing to the diversity in namkeen products. However, inflation, weather, and supply chain interruptions can all affect the cost of essential components like oil, spices, and raw materials like rice, lentils, and pulses. Such price increases may have an impact on namkeen's production expenses, raising retail pricing and making it more expensive for some customers.
The potato chips segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the namkeen market is divided into potato chips, extruded snacks, nuts, seeds, and others. Among these, the potato chips segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is driven by the fact that potato chips are renowned for their enticing crunch and diverse range of flavors, including spicy, sour, salty, and more. Potato chips are easily combined with a wide range of dips or eaten alone, making them appropriate for parties, casual snacking, and mealtimes.
The salted segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the flavor, the namkeen market is divided into salted, spicy, sweet, sour, and others. Among these, the salted segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is driven by salted snacks being a mainstay in the savory snack category and widely enjoyed. Salt's flavor is straightforward, recognizable, and embraced by people of all ages and backgrounds. Salted snacks are perfect for eating at any time, either as a snack on their own or as a side dish or drink as they go well with various foods and liquids. Producing salted snacks is typically less expensive because the flavoring is simple and doesn't call for pricey components or intricate formulations.
The pouches segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the packaging type, the namkeen market is divided into pouches, tins, bags, and others. Among these, the pouches segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to pouches being perfect for eating while on the go as they are small, light, and portable. To satisfy customers who prefer a quick, portable snack without opening larger packs, many pouches are available in single-serving quantities.
The supermarket/hypermarket segment accounted for the biggest share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
Based on the distribution channel, the namkeen market is divided into supermarkets/hypermarkets, convenience stores, online retail, traditional stores, and others. Among these, the supermarket/hypermarket segment accounted for the biggest share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The growth is attributed to supermarkets and hypermarkets offering a wide range of namkeen products, ranging from popular brand names to local and regional varieties. Customers shop at these stores for namkeen, along with all other grocery and household stuff.
Asia Pacific is anticipated to hold the largest share of the Namkeen market over the predicted timeframe.
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Asia Pacific holds the majority share of the global namkeen market during the forecast period. Namkeen is a native Indian food and snack, such as potato chips, extruded snacks, nuts, and fried mixtures, all widely enjoyed. These regions have deep-rooted cultures of snacking such that namkeen is included in meals, street food, and festivals. A large population base in India, China, and Southeast Asia and the expanding middle class boost demand for cheaper ready-to-eat snack foods.
North America is estimated to grow at the fastest pace in the global namkeen market during the forecast period. A North American consumer culture turns toward snacks that can easily be consumed with very little preparation time. Pre-packaged namkeens have filled this demand by offering convenient, on-the-go options for busy single persons or families. Increasing awareness about healthy living among North American consumers has also spurred the demand for nutritious snacks. It is therefore for this reason that namkeen manufacturers have geared their efforts towards making traditional snacks more attractive to health-conscious consumers by offering low-fat, low-sodium, baked, and organic varieties.
Major vendors in the global namkeen market are Everest Foods Ltd., McCain Foods India Pvt. Ltd., ITC Ltd., Balaji Wafers Pvt. Ltd., PepsiCo India Holdings Pvt. Ltd., Parle Products Pvt. Ltd., Gits Food Products Pvt. Ltd., Prataap Snacks Pvt. Ltd., Laxmi Snacks Ltd., Bikaji Foods International Ltd., Mondelez India Foods Pvt. Ltd., Amrit Foods Ltd., Haldiram Foods International Ltd, DFM Foods Ltd., Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In June 2023, Bikano, a well-known snack and packaged food company in India, unveiled a new bhujia flavor dubbed "Magic Bhujia" to broaden its product line and satisfy growing consumer needs.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the namkeen market based on the below-mentioned segments:
Global Namkeen Market, By Product Type
- Potato Chips
- Extruded Snacks
- Nuts
- Seeds
- Others
Global Namkeen Market, By Flavor
- Salted
- Spicy
- Sweet
- Sour
- Others
Global Namkeen Market, By Packaging Type
- Pouches
- Tins
- Bags
- Others
Global Namkeen Market, By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Traditional Stores
- Other
Global Namkeen Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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