Foods and out-of-home business likely to be the engines of growth, with expanded portfolio and higher distribution reach
Rising health consciousness, emergence of new categories like oats and muesli, and new channels like e-commerce have led to the wider adoption of breakfast cereals in the country. According to one estimate, the market is set to touch Rs 4,010 crore in 2022 from Rs 3,495 crore in 2021.
Food companies are scrambling to meet the growing demand for traditional staples and are launching ‘tastier’ snacks and cereals.