New Delhi, April 2 -- The savoury snacks market in the country is expected to register a growth of around 13 per cent CAGR over the next three years and outperform the broader packaged food industry, according to a report by Ashika Institutional Equities.

The report noted that the Indian savoury snacks market, estimated at around Rs 748 billion in FY24, is projected to grow at approximately 13.0 per cent CAGR over FY24-FY29E, higher than the broader packaged foods industry, which is expected to grow at around 11 per cent.

It stated that the reason of this growth is the "Improving income levels, better infrastructure and rising media penetration are enhancing awareness and access to branded products in rural India".

The report highlight...