When day hot day turns to be chilly evening we talk about Mom please make tea or coffee with some Samosa or any kind of fast food! Evening in India tells about different yummy and area wise special snack foods often pop into the mind of Indian people. As they have fanatical love for food & different types of dishes, particularly local & home-based snacks dishes which can be eaten at any time of the day. Beginning of snack industry has broadened the alternatives which enable people to snack tastefully with completely no compromise on pleasant taste. Though snacking is rather a new segment of the food industry and still at an embryonic stage.
The Indian fast food market has been showing rapid growth on the back of optimistic developments and occurrence of huge investments. At present, market growth is mainly increased by the growing young population, employed women, chaotic schedules, and rising disposable income of the middle-class people. Some of the sole properties of fast food like swift served, price benefit, etc are making it extremely famous among the masses. Therefore, India provides huge opportunities for both international as well as domestic players.
Globalization has carried about essential alternations in the snacking pattern; mall culture, liberalization, and urbanization have laid deep effect on dietetic pattern of the people across the world, ensuing into the escalating intake of fast and processed food. Wide growth of nuclear families has also brought onward a great leap in demand of fast foods which are nutritious, hygienic, portable and alternate for hot snacks. That is most important the snack industry to a huge height. It is a vehement attraction for healthy ready to eat snacks that advise the people to gobble up occidental snacks like Chips, burger, Pizza, and French Fries which have occupied the taste of people. Therefore, the snack industry has opened the floodgates of opportunities in the food processing market.
If we talk about growth rate of the fast food industry it is really amazing, and is also presaged that production of branded fast food raises at annually 20% in future 2 years. The Indian fast food market has got at worth of $ 459 million in 2006, is one of the biggest snack markets in the Asia region, and accounts for three per cent of the total Asia-Pacific snack market revenue. Potato chips are definitely the prime product category within snacks and having the biggest share about 85% of the total market income. The identified & branded chips marketplace has been flourishing at a quick speed of about 20 to 25 per cent yearly and its production is predict to be 6500 tons in India. Savory snacks and snack nuts are following the suit, but at present popcorn and other delicious flavored popcorns have yet to make movement in the Indian market.
The Indian fast food snack industry is dreadfully fragmented and broadly unorganized, is a subject of deep worry. Homemade fast food snacks and grubs sold by street vendors are still guiding supreme in the market that is sated with cheaper products like Banana and Potato Chips, Burger, Pizza, and Fun Food for drawing the attention of the clients and suiting the budget of lower income groups. Thus in order to unite the fast Food Industry, business growth policy and execution of food safety and standards act are required so that it can enlarge the export & production base.
The vision of the industry is quite promising, as huge names of the snacks trade have involved into the Indian market. Increasing and prospering snacks market are grabbing new players as well to venture into this business. And well recognized companies are providing some different type of nutritious and healthful snack alternatives, and snack shops & fast food or snacks restaurants are springing up all across the world. All these portend great for the snack industry in India.
Numerous fast food restaurants provide guilty delight on their menus, like bacon and French fries. These items are comfort food for mostly people and can be satisfying as well as delicious. Unluckily, the cause fast food tastes so good is because it’s carries with sodium and fat, however due to the protest from clients who are progressively more health-conscious, changes in the method few items are organized are being made which might or might not influence their flavor.
Tarandeep is a student at SSCBS, DU. The views expressed are his own based upon the analysis and research he did on the topic from various books, reports and web articles. He regularly writes for Corporate Monks as a research associate. The writer takes person responsibility for the ownership of the content shared and incase some sources have not been given credit, you can directly mail him firstname.lastname@example.org