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India is witnessing a significant growth in low-calorie and low-fat snacks, thanks to the increasing use of millets. According to a recent report by NielsenIQ (NIQ), the world’s leading consumer intelligence company, products focused on low-calorie, low-fat, and gut-health are dominating the market, with one in five snacks linked to health benefits.
Millets, along with mindful snacking, are on the rise, reflecting a broader trend towards health-oriented consumer technologies. The report also highlighted a cultural influence from South Korea, with Korean-inspired personal care and food innovations gaining popularity due to their unique flavors and textures. Additionally, there is a growing demand for sustainably sourced fast-moving consumer goods (FMCG) and energy-efficient consumer technologies tailored to local needs, driven by urbanization.
The NIQ Consumer Survey revealed that 34% of urban consumers prioritize new product availability, while 40%—particularly Gen-Z and women—actively seek innovation, often claiming to shop for new products before others.
“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.
NielsenIQ recently celebrated the winners of the 2024 Breakthrough Innovation Awards, honoring brands that have disrupted the market with exceptional new product launches. These award-winning products, launched between 2022 and 2023, have successfully navigated an evolving consumer landscape.
Since 2012, more than 900 FMCG brands globally have been recognized with this prestigious honor, including about 140 innovations in India across categories like food and beverages (48%) and personal and home care (52%). This year, NIQ also recognized tech and durables brands in India for their groundbreaking achievements in product development and market success.
The growth of low-calorie and low-fat snacks, coupled with the rising use of millets, reflects the evolving preferences of Indian consumers towards healthier and more innovative food options.
