Mumbai, Dec 11 Low-calorie and low-fat snacks are seeing significant growth as millets are being increasingly used in India, according to a report on Wednesday.
The report by NielsenIQ (NIQ), the world's leading consumer intelligence company, showed that low-calorie, low-fat, and gut-health-focused products dominate, with one in five snacks linked to health.
Millets and mindful snacking are on the rise, alongside health-oriented consumer tech.
It also showed a cultural influence from South Korea. Personal care and food innovations inspired by Korea have gained traction, emphasising unique flavours and textures.
The report noted a growth in demand for sustainably sourced FMCG, and energy-efficient consumer tech tailored to local needs, urbanisation has been fueling the demand for innovative, high-quality products that simplify life.
NIQ Consumer Survey reveals that 34 per cent of urban consumers prioritise new product availability and 40 per cent -- especially Gen-Z and women -- actively seek innovation claiming to shop for new products before the others did.
“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 said.
NielsenIQ also celebrated the winners of the 2024 Breakthrough Innovation Awards, at a recent event, honouring brands that have disrupted the market and captivated consumers with exceptional new product launches.
These award-winning products launched between 2022 and 2023 and have successfully navigated an ever-evolving consumer landscape.
Since 2012, more than 900 FMCG brands globally have been recognised with this prestigious honour, including about 140 innovations in India across categories like food and beverages (48 per cent) and personal and home care (52 per cent). This year, NIQ also recognised tech and durables brands in India for their groundbreaking achievements in product development and market success.
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