A 5-rupee snack ruling a 6 lakh crore industry will leave you amazed

New Delhi (The Uttam Hindu): Popular among liquor lovers as "chakhana," peanuts costing 5-10 rupees are no longer just a time-pass snack. Instead, these seemingly small peanuts have become a giant economy. If you thought peanuts were sold only around liquor shops, you're wrong. New data shows that the market has now surpassed 6 lakh crore rupees. By 2024, the size of the Indian peanut market is estimated to be approximately 7.45 billion dollars, or approximately 6 lakh crore rupees. According to a recent report by Market and Data Research, this market is unstoppable, and it is estimated that the peanut butter market will grow at an annual rate of 11.21% between fiscal years 2025 and 2032.

The reason behind this tremendous growth is not just its consumption with alcohol, but the biggest reason behind it is the increasing 'health awareness' among the people. People in India are now shifting towards protein rich, low fat and natural foods, due to which there is a huge demand for peanut butter among the youth going to the gym and the health conscious people. Apart from this, due to the influence of urbanization and western food habits, the use of peanut butter has now become common on the breakfast table in Indian homes. The expansion of e-commerce and online shopping has taken this product out of the metropolises and made it reach small villages.

An interesting finding from the market report is that people are increasingly preferring crunchy peanut butter over plain peanut butter. The crunchy segment accounted for over 45% of total revenue in 2021. It is considered healthier than creamy butter because it contains less saturated fat and more fiber. This is why peanuts have evolved from being just a cheap snack to a premium health food.