We Indians are crazy when it comes about snacking and its varieties. Though we are known for our diverse cultures, the one thing which keeps us going is love for a variety of snacks from each state. We can say “divided by states, united by snacks”. The Indian chips market has shown remarkable growth in the past couple of years. The market is forecast to grow with a CAGR of more than 9% in the near future. Currently, the growing young population (below 15 years) represents a key segment for the potato chips market. Major factors driving the global demand of potato chips are growing urbanisation, the rise in disposable incomes and rapidly changing lifestyles. A busy lifestyle coupled with long working hours have forced people to shift from elaborate luncheons and meals to desk snacks and packaged foods. Snack companies are branching out from original recipes and launching line extensions that deliver interesting ingredients, flavours, and textures to consumers looking for new experiences or alternative ingredients for health reasons.Indian Snacks Market is growing due to following factors growing middle-class population, lifestyle changes, rising urbanization, local availability and availability of snacks in small package Size, low Price and company’s strategies to focus on regional taste.
India is the largest producer of banana in the world and about 90% of banana produced is consumed domestically as fresh fruit. Merely 5% is consumed in processed form providing a good potential for future processing. About 2.5% is only processed purely as banana products and the rest as an ingredient in other foods. About 17 varieties of products could be made from banana. The primary product of banana in market is “fried chips and candy” which constitute around 31%, rest as banana puree 9%, banana pulp 3%, banana beer 3%, banana wafers 3%, banana powder 6% and others.Healthy snacks are likely to enhance a greater demand for low-calorie, healthy and fiber-rich snacks. The Indian snacks market in the year 2009-10 was estimated to be worth Rs. 150 billion with the organized segment accounting for half of the market share and growing at a rate of 15-20%. The share of unorganized sector on the other hand being roughly Rs. 75 billion with growth at a rate of 7-8%.
The product we are focusing is the banana chips -the ethnic snack of Kerala. In the banana processing sector, only 3-4% of the total production is processed. The banana processed products mainly consists of banana chips. Majority of the chips are produced from Nendran banana, however, Robusta and Monthan banana fruits are also being processed as chips to some extent in Maharashtra and Tamil Nadu states. Banana chips are deep-fried and/or dried slices of bananas. They can be covered with sugar or honey or they can be flavoured with spices (tomato, Chilli, plain salted, Mexican, Italian etc.) or Variants of banana chips may be covered with chocolate, cream etc.
While fresh bananas are widely available, banana chips are not easily available in many parts of the country. Making chips increases the shelf life of the product in times of abundant harvest and provide an opportunity to increases the income levels, perhaps if the farmers are able to find a market rather than go for distress sale. If the entrepreneur wishes to sell direct to the end customer, then the location with the highest traffic should be chosen. This will generally mean higher expenses in the form of rent. If the entrepreneur wishes to sell through shops, hotels or clubs, then the business can be started from the production site however the entrepreneur will have to accept a lower mark-up to allow for a margin to be made for the shop owner.By enhancing the disribution channel , we can tap into new markets and ptential markets. The health aspect of the banana chps can be a new strategy to increase the sales. One of the major benefits of consuming banana chips is their fiber content. Banana chips also serve as a source of iron, an essential mineral that benefits the health. Iron helps form hemoglobin and myoglobin, two proteins that provide tissues with a fresh supply of oxygen. Banana chips -- like whole bananas -- boost the intake of potassium. There exists a strong demand for banana chips as most people enjoy eating snacks.
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