India's Snacks Market to Outpace Packaged Food Sector with 13% CAGR Growth

• India's savory snacks market is projected to grow at a 13% CAGR from FY24 to FY29, reaching Rs 748 billion in FY24.
• This growth rate surpasses the 11% expected for the broader packaged food industry, driven by rising incomes and rural penetration.
• Increasing consumption in rural India, improving infrastructure, and media penetration are key growth drivers.
• Ethnic snacks are anticipated to grow faster than Western categories due to strong regional preferences.
• Modern trade and digital channels are seeing rapid growth, while policy support like potential GST reduction and PLI scheme could further boost the organized sector.