|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
Feature
Diet snacks market growing meatier
|
|
Friday, 20 January, 2012, 08 : 00 AM [IST]
|
|
T D Mohan
|
India is poised to be amongst one of the fastest growing economies in the world. Thanks to the rising income and booming economy, higher incomes are expected to drive shifts in the dietary patterns from basic subsistence foods to more value-added food categories like health & wellness products.
India, the next big market
India’s population, second-highest in the world, is expected to reach 1.3 billion by 2015. Population of under -29s is projected to reach a staggering 56% by 2015. With more than half of the population young and single, shopping as a form of entertainment is bound to be redefined. Higher consumer spending will be witnessed across processed food, eating out, leisure, and health and fitness sectors.
Middle-aged adults (ages 45-55) currently the second-largest proportion of the Indian population, is expected to increase to 23.4% by 2015.There is a larger emphasis by this group, as well as the pensioners, on spending on health-related products which forms a part of their discretionary spending. Thus there is a gradual move towards natural products comprising herbs, vitamins and minerals.
Globally, the health and wellness market has been estimated at US$580 (Euromonitor – 2008), growing at the rate of 7-8%. While 70 to 80% of this market is concentrated in developed countries (US, Western Europe and Japan), with higher per capita incomes and a greater consciousness of health and wellness foods, the phenomena is catching up in India as well.
Preventive over Curative
With increasing health-consciousness, consumers globally have realised the importance of adopting a Preventive lifestyle over a Curative lifestyle. This reflects in the choices consumers make, and shift in the dietary patterns observed; say – choosing cholesterol-free or low-fat products, a category termed Better for You (BFY).
The progress of the Indian economy has given a new definition to a strong middle-class, which is the main driver behind most consumer trends. Expected to grow to 583 million in 2025, they will boost consumer spending to US$30 billion on high-end goods by 2015. High-income families will account for 2% of the population, but 20% of consumption by 2025.
In the mill run, the great beneficiary is the food and drink market. Its emerging as one of the most fastest-growing segments in the Indian retail industry. Rising exports and an expanding domestic market are only adding to the sheen. Net result: Changed perception about packaged foods in the consumer mind as the one to be clean, hygienic and of good quality.
Urban divide
According to recent research report, Indian population residing in urban areas is expected to touch 32% by 2020. Growing income and urbanisation are expected to have an impact on lifestyles and exposure to packaged foods. The rising trend for convenience, along with the rise of lifestyle diseases could trigger a huge demand for health and wellness products.
Lifestyle disorders / disease is gaining prominence in India due to the considerable rise in sedentary living, higher work stress, rising pollution levels and growing consumption of unhealthy fast food. The focus is shifting to Preventive lifestyle, instead of Curative. Some of the widely experienced disorders include obesity, heart disorders and digestive disorders diabetes. As per Government of India estimates, the number of cases of coronary heart disease is expected to double while the number of cases of diabetes to increase to 1.5 times between 2005 and 2015. With growing concerns about lifestyle diseases, urban consumers are showing increasing preference of low-fat, low-sugar / carbohydrate and low-cholesterol products. This could lead to an increased demand for BFY category.
Emphasis on health
The increased emphasis on a healthy lifestyle is already a new trend especially in northern and western India, whose diets comprise a high intake of saturated foods. There is an increasing demand for products that are cholesterol-free, which reduce stress hence spiralling the demand for health & wellness foods.
The health & wellness (H&W) food industry in India has witnessed significant activity over the past few years. A number of food players have been introducing healthier variants of their existing products or launching a completely new range of products on this platform. However, H&W products constitute a miniscule percentage of packaged food market in India, as compared to the global average of ~27%. With key consumer side changes underway, along with the growth of packaged food consumption in India, the health & wellness market could witness high growth over the next decade.
BFY Foods
BFY Foods— a prominent category under the health and wellness segment is where diet snacks belongs to. The category includes packaged food and beverage products where the amount of a substance considered to be less healthy (fat, sugar, salt, carbohydrates) has been actively reduced during production. To qualify for inclusion in this category, the “less healthy” element of the food stuff needs to have been actively removed or substituted during the processing. The categories covered in this segment are low/no/reduced fat, low/no/reduced sugar, low/no/reduced sodium, /low/no/reduced glycemic, and no/low/reduced cholesterol.
Bridging the divide
India is a culturally-rich country. So are their food habits. Snacks have been an important part of the Indian food habit for ages now. It is estimated that almost 1,000 snack items and 300 types of savouries are sold across India, with many more unaccounted for. With Indian consumers constantly looking for variety and getting health-conscious by the day, healthy snacks with an authentic Indian flavour – has become the need of the day.
Diet snacks are emerging as the new trend in the Indian market. Today’s hectic lifestyles leave no space for elaborate family meals, thus paving the way for highly convenient, tasty and healthy snack foods that serve as both appetisers as well as complete meal solutions. Strong opportunities exist for fat-free and guilt-free snacks, with penchant for innovation in terms of packaging.
Bridging this gap is Garden: a veteran in the Indian snack market, Garden has been a front- runner in the diet snacks category and a trend-breaker with a feeling of “favourite light snack made even lighter and healthier.” It is a unique product offering, which is not only a delight on the taste buds but also wins with the health factor. The Products in Diet Range have zero cholesterol and zero trans fats, as tested by independent labs. The ill-effects of cholesterol are well known and documented. Trans fats have been considered as the worst kind of fats – They act as a double whammy for the system – They raise the bad cholesterol (LDL) and reduce your good cholesterol (HDL). The absence of these two is surely a treat when health is considered.
Re-extraction process
Garden Diet Range, a part of Cavinkare portfolio, undergoes a unique oil re-extraction hydro process as a step while manufacturing, through which significant quantities of available oil from the product is extracted out, thereby directly reducing the fat contents. This process step while not affecting the taste and spice content, has reported to re-extract considerable amount of oil content. The diet range consists of diet bhel, diet chivda and lemon bhel – To cater to a variety of taste preferences and consumers.
The Indian food retail market is yet to unfold its true potential! However long run b
|
|
|
|
|
|
|
|
|
|