HomeBusiness NewsMadmix eyes ₹100 crore ARR in 5-years amid India’s healthy snacking surge
India’s snacking industry is poised to touch $30 billion by 2026 and health-conscious consumers are driving a $6 billion healthy snacking segment currently. Homegrown brands are stepping up to meet this demand, and one such brand that is making waves is Madmix. A millet-based snack company, Madmix claims it is redefining affordability and nutrition.
By Shruti Mishra March 27, 2025, 12:08:35 AM IST (Published)
India’s snacking industry is set to reach $30 billion by 2026, with the healthy snacking segment already valued at $6 billion. Riding this wave, homegrown brand Madmix has set an ambitious target: reaching ₹100 crore in annual recurring revenue (ARR) within five years.
“With our existing channels where we’re selling, we just have to conquer that, and I think we’ll be able to reach the numbers soon,” said Gaurav Palrecha, Founder of Madmix.
A key driver of this growth is the company’s expanding global footprint. Already present in Nepal, Hong Kong, New Zealand, and the US, Madmix is now looking at markets like Australia, Japan, and Fiji. “We are focusing on markets where the Indian diaspora is searching for a healthier alternative to their daily snacks,” said Palrecha.
Back home, the brand is winning over consumers with nostalgic and innovative flavours. From Maggi-flavoured bhujia to paan-infused raisins, Madmix is bringing back familiar tastes with a healthy twist. The paan raisins have even found a fanbase in correctional facilities, where inmates appreciate the flavour they otherwise rarely get access to.
Innovation remains at the heart of Madmix’s strategy. New products in the pipeline include anar dana raisins, which promise a tangy burst reminiscent of Hajmola, and a millet-based bhel with baked bhujia and peanuts.
The brand has recorded a 420% rise in sales volume since the last financial year, with a month-on-month growth rate of approximately 33%. Its presence across 5,000 outlets and alternative sales channels like schools, hospitals, and corporate canteens has fuelled this expansion, Palrecha said.
Affordability is a crucial differentiator for Madmix. Priced at just ₹20 per pack, the brand ensures accessibility without compromising on quality. By avoiding hefty listing fees and high advertising spends, Madmix has been able to optimise costs and reinvest in production.
At its core, Madmix is disrupting the FMCG landscape with a unique playbook—leveraging millet-based products, strategic distribution, and consumer-friendly pricing. “We’re trying to conquer the market one packet at a time,” said Palrecha, confident that Madmix is set to make a lasting impact on India’s healthy snacking industry.
