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Low-calorie snacks, vacuum fried veggies replace traditional snacks: Expert
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Friday, 12 April, 2019, 08 : 00 AM [IST]
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Nandita Vijay, Bengaluru
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There has been a major shift away from traditional ethnic Indian snacks with low-calorie snacks, roasted grains and vacuum fried vegetables and fruit options being some of the visible trends, according to Murari Narayanan, director, Phalyum, a snacks brand. He revealed the trends and more in an email interaction with FnB News on Thursday.
There is a lot of scope for innovation in the industry because people are open to trying anything new. However, customers are increasingly looking for healthier choices. “Healthier versions of traditional recipes that are more relevant for the present not-so-active lifestyles have found greater acceptance. Also ready foods that are easy to use and can be taken on the go are popular,” he added.
Bengaluru-based food startup brand Phalyum is a line of tasty and crunchy fruit, veggie snacks and chocolate-covered fruits, developed by Salutaris Food Technologies. The company sees that there is a growing preference among Indians for healthier snacking options and this is where it fits in.
With Indian consumers willing to experiment with food, interesting and new flavours, combinations and products are making their way into relatively conservative Indian kitchens. Be it ready-to-eat or ready-to-cook products, traditional foods with a modern twist or super snacks, new-age foods have found great acceptance, opening up a sea of opportunities for food startups and entrepreneurs.
The Phalyum chief emphasised, “Organic has been the buzzword of late. With everything from vegetables and fruits to grains suddenly seeing the need to join the bandwagon, we saw a tsunami of foods claiming to be organic. This trend has dominated the F&B sector in the recent past.”
“We aim to create healthier snacking alternatives with fruits and vegetables without any artificial colours, flavours or preservatives. However determining the pricing was one of the key challenges with Phalyum. As we use fruits and vegetables and no artificial colours or preservatives, it was not possible to price the product at the lower end of the spectrum,” he stated.
“However, the Indian market is also highly price-sensitive. We feel that no matter how innovative your product is, it will not reach the customer if it’s too heavy on the pocket. Despite the challenge, we successfully priced it in a way that we have not had to compromise on quality while ensuring profitability,” he further said.
On how receptive the VCs (Venture Capital) and PEs (Private Equity) were to fund this sector, Narayanan said that consumers changing dietary habits and readiness to try new things are fuelling growth in this sector.
Quoting the India Food Report 2016, he said that the retail market was expected to grow from Rs 25 trillion in 2014 to Rs 61 trillion by 2020, at a CAGR of more than 15% for the 2014-20 period. VCs and PEs are therefore quite receptive to fund food segment as it offers plenty of opportunities for growth, according to Narayanan.
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