A new report released on Wednesday reveals that low-calorie and low-fat snacks are experiencing substantial growth in India, with millets becoming a popular ingredient.
The NielsenIQ (NIQ) report, from the global leader in consumer intelligence, highlights that products focusing on low-calorie, low-fat, and gut health are dominating the snack market, with one in five snacks now associated with health benefits.
In addition to the rise of millets, mindful snacking is gaining popularity, along with a growing interest in health-oriented consumer technology.
The report also points to a cultural influence from South Korea, with innovations in personal care and food that are inspired by Korean trends. These innovations are gaining popularity for their distinct flavours and textures.
The report noted a growth in demand for sustainably sourced FMCG, and energy-efficient consumer tech tailored to local needs, urbanisation has been fueling the demand for innovative, high-quality products that simplify life.
NIQ Consumer Survey reveals that 34 per cent of urban consumers prioritise new product availability and 40 per cent — especially Gen-Z and women — actively seek innovation claiming to shop for new products before the others did.
“The appetite for novelty is undeniable. For brands, this presents a strategic opportunity to capture consumer interest and drive sustained growth through meaningful and timely innovations,” said Vidya Sen, Executive Director, Customer Success – BASES, NielsenIQ said.
NielsenIQ also celebrated the winners of the 2024 Breakthrough Innovation Awards, at a recent event, honouring brands that have disrupted the market and captivated consumers with exceptional new product launches.
These award-winning products launched between 2022 and 2023 and have successfully navigated an ever-evolving consumer landscape.
Since 2012, more than 900 FMCG brands globally have been recognised with this prestigious honour, including about 140 innovations in India across categories like food and beverages (48 per cent) and personal and home care (52 per cent). This year, NIQ also recognised tech and durables brands in India for their groundbreaking achievements in product development and market success.
