The latest report by IMARC Group, titled " India Packaged Sweets Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ", offers a comprehensive analysis of the industry, which comprises insights on the India packaged sweets market report. The market size reached INR 6,229.7 Crore in 2023. Looking forward, IMARC Group expects the market to reach INR 25,970.8 Crore by 2032, exhibiting a growth rate (CAGR) of 16.67% during 2024-2032.
Factors Affecting the Growth of India Packaged Sweets Industry:
- Changing Consumer Preferences:
Over the years, consumer preferences in India have evolved significantly, and this shift is a major driver in the packaged sweets market. Modern consumers are seeking convenience, hygiene, and quality when it comes to sweets. Packaged sweets cater to these demands by offering standardized, ready-to-eat options that are free from contamination. Moreover, the busy urban lifestyle has led to an increased demand for easy-to-carry and longer-lasting sweet options, making packaged sweets a popular choice.
- Growing Disposable Income Levels:
The rise in disposable income among the Indian population has been instrumental in fueling the growth of the packaged sweets market. As more households experience an increase in income levels, they are willing to spend on premium and branded sweets. Packaged sweets offer a wide variety of flavors and options and ensure consistency in taste and quality, which appeals to the discerning consumer. This has led to a rise in the consumption of packaged sweets, especially during festivals and special occasions.
- Expanding Retail and E-Commerce Channels:
The distribution channels for packaged sweets have expanded significantly, making them more accessible to consumers across India. Traditional sweet shops, supermarkets, hypermarkets, and e-commerce platforms have all contributed to the growth of the market. E-commerce, in particular, has played a pivotal role by providing consumers with the convenience of ordering sweets online, often with door-to-door delivery. This has opened up new avenues for packaged sweet manufacturers to reach a broader consumer base, including those in remote areas.
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Leading Companies Operating in the India Packaged Sweets Industry:
- Banchharam, Bikanervala Foods Private Limited
- Bikaji Food International Limited
- Bihar State Co-operative Milk Producers Federation Limited (COMFED)
- Gujarat Co-operative Milk Marketing Federation Limited
- Haldiram's
- Karnataka Co-operative Milk Producers Federation Limited (KMF)
- KC Das Private Limited
- Lal Sweets Private Limited
- Orissa State Co-operative Milk Producers Federation Limited (OMFED)
- Parag Milk Foods Limited
- Tamil Nadu Co-operative Milk Producers Federation Limited (TCMF)
India Packaged Sweets Market Report Segmentation:
By Product Type:
- Rasgulla and Gulab Jamun
- Barfi
- Soan Papdi
- Peda
- Laddoo
- Others
Rasgulla and gulab jamun dominate the market due to their enduring popularity and widespread demand as quintessential Indian sweets enjoyed across various festivals and celebrations.
By Ingredient Type:
- Milk and Milk Derivatives
- Cereal and Pulses
- Dry Fruits
- Fruits and Vegetables
- Others
Milk and milk derivatives hold maximum number of shares due to their widespread use as foundational ingredients in a wide range of food products, from dairy-based products to baked goods, making them a versatile and essential component of the food industry.
By Packaging Type:
- Boxes
- Tin Cans
- Plastic Containers
Boxes represent the largest segment due to its versatility, providing a sturdy and customizable packaging solution that caters to a wide range of products across various industries.
By Distribution Channel:
- Own Brand Stores
- Convenience Stores
- Supermarkets and Hypermarkets
- E-Commerce
- Milk Outlets
Own brand stores dominate the market as they allow companies to directly control product quality, branding, and consumer experience, thereby ensuring consistency and trust among consumers.
Regional Insights:
- North India
- West and Central India
- South India
- East India
North India’s dominance in the packaged sweets market is attributed to its rich cultural heritage and traditions, which place a strong emphasis on sweet consumption, particularly during festivals and special occasions.
India Packaged Sweets Market Trends:
The process of urbanization in India has brought about a cultural shift in dietary habits. As more individuals migrate to urban areas and are exposed to Western influences, there is a growing demand for sweets that align with modern lifestyles. Packaged sweets often offer contemporary flavors, innovative packaging, and longer shelf life, making them more appealing to urban consumers seeking convenience and variety. Additionally, with an increasing awareness about health and hygiene, consumers are looking for sweets that are delicious and also meet quality and safety standards. Packaged sweets are manufactured under controlled conditions, ensuring quality control and adherence to hygiene standards. This reassurance regarding safety and quality is a significant driver for consumers who want to enjoy sweets without compromising on their health.
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