Mumbai: Low-calorie and low-fat snacks are experiencing remarkable growth in India, fueled by the rising incorporation of millets, according to a report released on Wednesday by NielsenIQ (NIQ), a leading consumer intelligence firm.
The report highlights a growing preference for health-focused snacks, with products targeting low-calorie, low-fat, and gut-health needs dominating the market. Approximately one in five snacks sold now aligns with health-conscious trends, underscoring a significant shift in consumer priorities. The increasing popularity of millets and mindful snacking reflects broader health-oriented consumer behavior, supported by advancements in health-focused technology.
Cultural influences, particularly from South Korea, are also shaping consumer choices. Innovations in personal care and food inspired by Korean trends, including unique flavors and textures, have garnered widespread attention. The report emphasizes a broader demand for sustainably sourced FMCG products and energy-efficient consumer technologies tailored to the needs of an urbanizing population. This trend is driving the market for innovative, high-quality products that simplify modern life.
NIQ's Consumer Survey revealed intriguing consumer insights, with 34% of urban shoppers prioritizing the availability of new products. Additionally, 40%, particularly Gen Z and women, actively seek innovation, often making purchases ahead of others. “The appetite for novelty is undeniable,” said Vidya Sen, Executive Director, Customer Success - BASES at NielsenIQ. “For brands, this presents a strategic opportunity to capture consumer interest and drive sustained growth through meaningful and timely innovations.”
The report also celebrated the winners of the 2024 Breakthrough Innovation Awards, recognizing brands that have disrupted markets with exceptional product launches between 2022 and 2023. These award-winning innovations have successfully navigated an ever-changing consumer landscape, reflecting their adaptability and relevance.
Since its inception in 2012, over 900 FMCG brands worldwide have received this prestigious recognition, including approximately 140 innovations in India. Indian winners span diverse categories, with 48% in food and beverages and 52% in personal and home care. For the first time, NIQ also honored tech and durable goods brands in India for groundbreaking achievements in product development and market success.
As consumer preferences continue to evolve, the report underscores the importance of sustainability, innovation, and cultural relevance in driving market growth and meeting the expectations of increasingly discerning consumers.