India soan papdi market stood at $ 73 million in 2017 and is projected to grow at a CAGR of over 12% to reach $ 149 million by 2023 on account of changing taste preferences of Indian consumers, growing demand for packaged traditional sweets and availability of different flavors of soan papdi. Moreover, rapidly growing demand from a middle-class population with increasing disposable income, longer shelf life of traditional sweets along with rising availability of these sweets at modern retail stores is further pushing demand for soan papdi across India. Soan papdi manufacturers are offering sugar-free alternatives for health-conscious consumer base which is further likely to positively influence India soan papdi market.The objective of the Study:
• To analyze and forecast market size of India soan papdi market.
• To define, classify and forecast India soan papdi market on the basis of segment (Ghee and Non-Ghee).
• To scrutinize the detailed market segmentation and forecast the market size by segmenting India soan papdi market into four regions namely, North Region, West Region, East Region, and South Region.
• To identify tailwinds and headwinds for India soan papdi market.
• To get an idea about the consumers’ behavior towards product awareness, preferred flavor, availability of preferred flavor, factors influencing purchase decision and the reason for purchase.
• To strategically profile the leading players, which are involved in the supply of soan papdi in India.
Some of the major players operating in India soan papdi market are: Haldiram Snacks Pvt. Ltd., Haldiram Foods International Pvt Ltd, Bikaji Foods International Ltd, Bikanervala Foods Pvt. Ltd., Jabsons Foods Private Limited, GRB Dairy Foods Private Limited, Punjabi Ghasitaram Halwai Pvt. Ltd., Bhikharam Chandmal Mithai Namkins Pvt Ltd, Roop Chand Mohan Lal & Co, and Surdhenu Foods Pvt. Ltd.
They performed primarily as well as exhaustive secondary research for this study. Initially, They sourced a list of soan papdi manufacturers and suppliers in India. Subsequently, we conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, They were able to include manufacturers that could not be identified due to the limitations of secondary research. They analyzed product offerings, end use sector/s, and regional presence of all major soan papdi suppliers across the country.
They calculated the market size for India soan papdi market using a bottom-up approach, wherein manufacturers’ value sales data for different types of soan papdi (Ghee and Non-Ghee) was recorded and subsequently forecast for the future years was made. They sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company annual reports, white papers, investor presentations, and financial reports were also studied
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