The global extruded snacks market size is expected to reach US$ 71.7 Bn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 4.20% CAGR between 2019 and 2029. According to the report, changing lifestyles & eating habits, growing preference for prepared ready-to-eat food, lower commodity prices and a booming retail industry are key market drivers. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the extruded snacks market. Some of these are:
- The estimated value of the market was at US$ 47.5 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Currently, Europe represents the largest consumer.
- Asia Pacific is projected to grow at the highest CAGR.
- The expanded snacks segment in the market is projected to grow at a significant rate.
- The global economy is facing a slowdown gradually leading towards a recession due to corona outbreak.
- Wheat is gaining popularity as a healthy snack option, and manufacturers have been developing products in a wide range of flavors.
“Growing number of young population and increasing disposable incomes in the emerging regions are also expected to drive the demand for extruded snack foods,” said a lead analyst at FMI.
Rise in Health Awareness As Consumers Choose Cautious Living Amidst Coronavirus Outbreak to Support Growth
As a result of the spread of coronavirus, consumers have become more vigilant about their snacking habits. They are slowly inclining towards healthier snacking foods such as extruded snacks because of the metabolism-related benefits they offer. Good snacking is often well-thought-of as a weight-loss accompaniment, as these snacks have the necessary vitamins and nutrients the body requires. The nutritional substances in extruded snacks can be transformed by altering protein and starch's digestion competence. The rising demand for weight control and healthy snacking are likely to drive the global market for extruded snacks over the forecast period. Rising demand for healthy snacking and weight control should fuel the market for the drug worldwide over the period forecast timespan.
For More Detailed Insights on Extruded Snacks Market
Who is Winning?
Some of the leading players operating in the extruded snacks market are PepsiCo, Inc., Calbee, Inc., Campbell Soup Company, ITC Limited, Old Dutch Foods Inc., Grupo Bimbo, Kellogg Company, S.A.B. de C.V., General Mills, Inc., Lorenz Snack-World, Amica Chips S.p.A., Universal Robina Corporation, ICA Foods International, JFC International, Ballreich Snack Food Company, Balance Foods, Inc., Tropical Heat, Chipita S.A., Griffin’s Foods Limited, Barrel O’ Fun Snack Foods Co., Inc., and San Carlo.
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
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Future Market Insights, in its new report, presents an unbiased analysis of the global clean label ingredients market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. Based on product type, the market bifurcated into potato, corn, rice, tapioca, mixed grains, and others. Based on types, the market is categorized into potato, corn, rice, tapioca, mixed grains and others. On the basis of distribution channel, the market is segmented into hypermarkets, supermarkets, independent retailers, and convenience stores. The geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
About Food & Beverages division of FMI
Expert analysis, actionable insights, and strategic recommendations - the Food & Beverages team at FMI helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 100+ countries for over a decade. The team provides end-to-end research of the global food & beverage market and consulting services; know how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.