A Deep Dive into India’s Fastest-Growing Food & Beverage – Savory & Snacks Startups
Introduction
India’s Food & Beverages (F&B) sector has undergone a remarkable transformation over the past decade, powered by evolving lifestyles, higher disposable incomes, and an ever-growing appetite for convenient yet quality snacking. Within this vast landscape, the Savory & Snacks sub-sector has become a true growth engine, blending time-honored flavors with modern innovation.
From the resurgence of heritage snack brands to the explosion of healthy alternatives and quick-service indulgences, India’s snacking scene in FY24 tells a story of reinvention, agility, and ambition.
Here’s a look at 10 dynamic brands that are reshaping what it means to “grab a bite” in modern India.
1. Guiltfree Industries Limited (Too Yumm)
City: Kolkata
Founded: 2017
FY 2024 Revenue: ₹477.35 Cr
Latest Valuation: ₹1209.80 Cr (As on 30 Mar 2023)
About the Company:
Too Yumm has carved a niche in the healthy snacking space with its range of baked, guilt-free alternatives to traditional fried snacks. Backed by strong marketing and celebrity endorsements, the brand champions the idea of “health without compromise” for India’s fitness-conscious consumers.
2. Bikanervala Private Limited (Bikanervala)
City: New Delhi
Founded: 2019
FY 2024 Revenue: ₹399.40 Cr
Latest Valuation: NA
About the Company:
Bikanervala bridges India’s rich snack heritage with modern retail appeal. Its extensive range of packaged namkeens, sweets, and ready-to-eat meals caters to both domestic and global audiences, while also preserving traditional taste in modern formats.
3. Prov Foods Private Limited (ProV)
City: Mumbai
Founded: 2019
FY 2024 Revenue: ₹337.90 Cr
Latest Valuation: ₹3.12 Cr (As on 06 Feb 2021)
About the Company:
ProV is a premium dry fruits and nuts brand focused on quality sourcing and health-driven products. With its curated selection of wholesome snacks, it appeals strongly to fitness-focused and wellness-oriented consumers.
4. Happilo International Private Limited (Happilo)
City: Bangalore
Founded: 2018
FY 2024 Revenue: ₹331.12 Cr
Latest Valuation: ₹1400.35 Cr (As on 21 Feb 2022)
About the Company:
Happilo leads the “better-for-you” snacking revolution through its range of dry fruits, trail mixes, and protein-rich snacks. With a focus on nutrition, premium packaging, and convenience, the brand has become a household name among health-conscious Indians.
5. Dharwad Big Mishra Pedha Private Limited (Big Mishra)
City: Dharwad
Founded: 2018
FY 2024 Revenue: ₹287.84 Cr
Latest Valuation: ₹12.58 Cr (As on 05 Sep 2022)
About the Company:
Big Mishra is deeply rooted in Karnataka’s culinary legacy, offering an authentic spread of Indian snacks and sweets. Its dedication to quality and traditional flavors has earned it strong regional loyalty and expanding national reach.
6. Gokul Snacks Private Limited (Gokul)
City: Rajkot
Founded: 2021
FY 2024 Revenue: ₹257.88 Cr
Latest Valuation: ₹10.00 Cr (As on 10 Nov 2022)
About the Company:
A rising name in western India, Gokul Snacks specializes in traditional namkeens and savory snacks known for freshness, flavor, and affordability. The brand’s growing distribution network is helping it quickly scale beyond its home market.
7. Connedit Business Solutions Private Limited (Farmley)
City: New Delhi
Founded: 2017
FY 2024 Revenue: ₹230.66 Cr
Latest Valuation: ₹328.72 Cr (As on 18 Aug 2023)
About the Company:
Farmley follows a farm-to-snack model, ensuring 100% natural, adulteration-free products. By sourcing directly from farmers, the brand guarantees purity, transparency, and freshness across its range of dry fruits, seeds, and nutritious snacks.
8. Bloombay Enterprises Private Limited (The Belgian Waffle Company)
City: Mumbai
Founded: 2021
FY 2024 Revenue: ₹226.46 Cr
Latest Valuation: ₹176.85 Cr (As on 31 Jan 2022)
About the Company:
The Belgian Waffle Company has introduced India to a new indulgent category of on-the-go dessert snacks. With its freshly made waffles and creative fillings, it’s become a mall and café favorite, blending global flavors with local enthusiasm.
9. Babaji Snacks Private Limited (Babaji Namkeen)
City: New Delhi
Founded: 2018
FY 2024 Revenue: ₹180.72 Cr
Latest Valuation: NA
About the Company:
Babaji Namkeen is known for its wide range of traditional Indian snacks, from mixtures to sev and bhujia. The brand’s consistent authenticity and quality have helped it appeal to both retail buyers and bulk consumers nationwide.
10. Rich Valley Dryfruit Private Limited (Rich Valley)
City: Ahmedabad
Founded: 2019
FY 2024 Revenue: ₹130.13 Cr
Latest Valuation: ₹8.20 Cr (As on 03 Ded 2019)
About the Company:
Rich Valley offers a premium portfolio of dried fruits and healthy snacks, targeting India’s modern, urban consumers. With an emphasis on freshness, visual appeal, and responsible sourcing, it continues to grow as a trusted health-focused brand.
Conclusion
The FY24 performance of these ten brands underscores the vibrant diversity and innovation fueling India’s Savory & Snacks industry.
Established names like Too Yumm and Bikanervala are scaling nationwide; at the same time, younger players such as Gokul and The Belgian Waffle Company are carving out fresh niches through product creativity and strong branding. Furthermore, these emerging brands are not only expanding rapidly but also redefining consumer expectations within the snacking industry. Meanwhile, Indian consumers are becoming more health-conscious and experimental, therefore seeking options that are healthier, tastier, and more convenient. As a result, both established and new players are constantly adapting to meet these evolving preferences. Ultimately, these brands exemplify the entrepreneurial spirit that is transforming not just how India snacks, but also how it celebrates flavor itself.
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