Extruded Snacks Market is valued at USD 50.26 Billion in 2021 and expected to reach USD 75.47 Billion by 2028 with the CAGR of 5.98% over the forecast period.
Growing consumer preference towards ready-to-eat packaged food, which is convenient to cook and requires less cooking time and rising demand for healthy snacking & convenience food are some of the major factors driving the market growth.
Extrusion technique when used in food handling it is known as food extrusion. Extruded snacks are arranged by using food extrusion technique in which a set of various ingredients is forced through an opening in a pierced plate with a specific or chosen design required in the end product (food), and then they are given shape by cutting the end-product into precise sizes. The extruder machine consist of a huge gyrating screw firmly fitted within a fixed barrel; at the end of the barrel is the die. The process of extrusion permits mass manufacturing of food through an endless, well-organized system that guarantees similarity of the end product. Food products which are manufactured using this method typically have very high starch content in them. These food items comprise many breakfast cereals, some pasta, breads, rough vegetable protein, ready-to-eat snacks, cookie dough, fat soy, confectionery, and certain pet foods, baby foods, and beverages. Presently, consumers are extra careful about their snacking habits and are gradually embracing healthy snacking foods such as extruded snacks due to the benefits offered by them related to metabolism.
Global Extruded Snacks Market is segmented on the basis of type, raw material, method of manufacturing, distribution channel and regional & country level. Based upon type, extruded snacks market is classified into simply extruded, expanded and co-extruded. Based upon raw material, the market is classified into wheat, potato, corn, rice, multigrain, oats and other raw materials (meat, peas, fruits, pulses). Based upon method of manufacturing, extruded snacks market is classified into single-screw extruder and twin-screw extruder. Based upon distribution channel, the market is classified into convenience stores, hypermarkets & supermarkets, e-commerce platforms and other distribution channels (Non grocery, mixed retailers, etc.)
The regions covered in this extruded snacks market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of extruded snacks is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Extruded Snacks market report covers prominent players like,
Global Extruded Snacks Market Dynamics–
Rising demand for weight managing and healthy snacking is likely to drive the extruded snacks market over the forecast period. Growth in urban population is also a major factor supplementing the growth of extruded snacks market. In addition, healthy snacking is considered beneficial in weight loss plans and snacks provide required nutrients and vitamins needed by body. Thus, rising demand for healthy snacking and weight management will also foster the product demand over the forecast period. Furthermore, key vendors are concentrating on providing healthy snacks and various flavor alternatives which is also boosting the growth of extruded snacks market. However, increased cost of raw material & production cost and stiff competition from local manufacturers may act as restrain factor for this market.
Global Extruded Snacks Market Regional Analysis–
North America is expected to register significant growth over the next few years owing to escalating demand for healthy snacking options and increasing innovations by market players in this region. Additionally, there is a growing demand for extruded snacks in retail industry, which is expected to be one of the major drivers of the market in this region. According to article published by Agriculture and Agri-Food Canada, in 2015, extruded snacks accounted for 12.1% of the market share in the U.S. snacks product market.
Asia-Pacific is expected to grow with a highest CAGR in this market owing to availability of a variety of extruded snacks at affordable and budget-friendly prices. The growing population of the region coupled with high consumer interaction towards exotic snacks products is further predicted to boost the market growth in this region.
Key Benefits for Global Extruded Snacks Market Report–
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