Parul
As markets are regaining the traditional excitement this festive season after lacklustre sales during the Covid-19 pandemic, the trade of sweets and namkeen (snacks) in the current financial year is likely to reach an all-time high of Rs 1.25 lakh crore, says an industry body representative.
During the Rakshabandhan festival last month, the trade of sweets and snacks witnessed a tremendous growth, Federation of Sweets and Namkeen Manufacturers director Firoz H Naqvi told PTI. “The demand of modak and other sweets has also increased in the ongoing Ganesh festival and this trend is expected to continue during the forthcoming Dussehra, Diwali and Holi too,” he said.
On the impact of inflation he said, “People may curtail their expenses on jewellery and clothes, but sweets and namkeen are an essential constituent of festivals.”
On the other hand, an analysis of sweets and snacks market of India by Statista shows that in 2021, the sales value of sweet and savory snacks in the Indian packaged foods market amounted to 6.3 billion US dollars. Edible oils and dairy products represented the largest portion of the packaged food segment in the country.
