Global Extruded Snacks Market to Reach US$ 71.7 Bn by 2029
The global extruded snacks market is projected to reach US$ 71.7 Bn by the end of 2029. The market was valued at US$ X Bn in 2020. If these figures hold true, the market will exhibit a CAGR of 4.2% between 2010 and 2029. Asia Pacific is likely to be the major revenue-generating region in the global extruded snacks market. Customers in this region enjoy numerous snacking options obtainable at reasonable prices.
KEY RESEARCH FINDINGS
- The global extruded snacks market will register revenues of around US$ 71 Bn in 2029.
- Rising shift towards healthy snacks, especially for weight control, would be pivotal in forging market growth over the following decade.
- Potato remains the material of choice for producing extruded snacks.
- Majority of revenue in extruded snacks market would be realized by supermarkets and hypermarkets.
- North America and Europe continue to engage stakeholders, players to drive their attention toward Asia Pacific (APAC).
KEY FACTORS DRIVING EXTRUDED SNACKS MARKET
Wheat to Emerge as Favorable Raw Material
Wheat contains low carbohydrates and fat compared to corn and potato, as well as rich in dietary fibers. As such, it is gaining traction as a preferred raw material for producing extruded snacks. Market players have been creating products in broad array of flavors. In addition, end users are promoting their product offerings by putting greater attention on health-conscious consumers. While potato is raw material of choice in extruded snacks market, manufacturers are turning their sights to wheat to expand their consumer base.
Manufacturers to Move Towards Twin-screw Manufacturing Method
Single-screw manufacturing method is highly preferable for producing extruded snacks, owing to its cost-effective attribute. However, twin-screw manufacturing method are expected to witness adoption upsurge in coming years, as it offers better pumping efficiency, and mixing ability compared to single-screw approach. In addition, the manufacturing technique imparts greater number of possible configurations to final products to obtain various shapes. Manufacturers are thus substantially shifting towards twin-screw manufacturing method.
COVID-19 Pandemic to Provide Growth Spurt
Alerted by impacts of coronavirus (COVID-19) pandemic, consumers are accelerating their shift towards healthier snack alternatives. As nationwide lockdowns all over the world continue to get extended further, consumers are looking for food items that offer prolonged shelf life such as bakery products, and snacks. This transition is working in favor of extruded snacks market. While possible economic downturn, and supply chain disturbances are challenging market players, they are likely to rebound after the containment of COVID-19 spread.
EXTRUDED SNACKS MARKET STRUCTURE ANALYSIS
- The global extruded snacks market is highly fragmented, with presence of several small- and large-scale manufacturers.
- Leading players are investing in mergers & acquisitions in order to expand their regional presence.
Base year considered
Actual estimates/Historical data
2014 - 2018
2019 - 2029
Market Value in 2019
US$ 47.5 Bn
Product Type, Manufacturing Method, Distribution Channel.
North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA.
Diamond Foods Inc., Calbee Inc., ITC Limited, Frito-Lay Inc., Kellogg Company, Bag Snacks, Old Dutch Foods, Inc., Want Want Holdings Limited, Arca Continental S.A.B. de C.V., Axium Foods Inc., JFC International Inc., Aperitivos Flaper, Mondelez International, Amica Chips S.P.A., Universal Robina Corp., and AUEVSS Ltd.
Revenue forecast, company share, competitive landscape, growth factors, and trends
Despite Inclination towards Western Lifestyle, Recent Coronavirus Outbreak to Hinder Growth
Due to the increasing adoption of westernization and high disposable income among consumers, a change in their lifestyle is projected during the forecast period. This is expected to increase the demand in the global extruded snacks market. While this phenomenon was supposed to grow gradually, hyper-demand was noted in the market following coronavirus outbreak.
As long periods of lockdown was enforced, consumers queued outside retail shops and supermarkets to pile up on essential commodities. Fear milling around meat consumption further made them seek out snacks and bakeries. Also, the common preferences for food that can be stored over a longer period of time led to the sudden hike in sales of various snacks and bakery food.
While this had a positive impact on extruded snacks market, supply chain disruptions and threat of looming recession are key challenges that market players are gearing to witness. Nonetheless they expect the demand to bounce back once the situation returns to normal since it is likely that consumers will focus on more on food that offer convenience and better health benefits.
Asia Pacific is Projected to Grow at the Highest CAGR
Asia Pacific market is estimated to have a huge share in overall extruded snacks market and is expected to be the biggest market for this product in the near future. This can be due to the availability of many snacking options made available in countries in that area at low prices. In addition, customers in Asia Pacific are prices that are product-conscious and affordable offered by prime companies that eventually increase the demand for goods in countries in the world. Factors driving the growth of the Asia Pacific market include the increasing adoption of the region's western culture, rising disposable income, and on-going snacking trends among the urban population due to busy lifestyles.
Consumers in the region prefer the consumption of goods that come at an affordable price. This is due to the changing economic conditions across a majority of countries, and so often opt for generic or domestic labels. On account of the rising number of hypermarkets & supermarkets, the availability of these snacks has become much easier, further boosting demand in Asia Pacific.
* This data is only a representation. Actual data may vary and will be available in report.
Rising Awareness for Healthy Snacks will Stoke Demand
Consumers are more vigilant about snacks eaten on a daily basis and are increasingly embracing healthier food items like extruded snacks due to the metabolism-related benefits these items give. Healthy snacks are also eaten in order to lose weight and these snacks also provide the essential nutrients and vitamins needed by the body. The nutritional elements of extruded snacks can be changed by altering the capacity of starch and protein to metabolise. Increasing demand for weight control and healthy snacks are expected to drive the global market for extruded snacks over the projected era.
Simply extruded segment held the leading market share
Expanded segment forecast to higher rate of growth
Wheat segment held lion’s share in the market
Corn segment to remain the second-lead
Single-screw extruder segment holds dominance
Twin-screw segment to rise at a higher CAGR
How Growth will Unfold
Due to the presence of many small and large vendors that compete on the basis of quality, innovation, price, reputation, service, promotion and distribution, the market is highly disjointed. Aside from demographic trends, market players 'growth prospects are subject to changing consumer spending patterns, local, regional, and national economic conditions. Market players face strong competition, owing to which they concentrate on launching innovative products to meet the changing tastes of consumers. Despite reaching maturity levels in developed markets, demand for extruded snack foods is expected to increase over the forecast period driven by a number of growth-inducing factors in the emerging markets.
An overwhelming majority of the population lives a fast-paced lifestyle as a consequence of the growing urbanization. Since long working hours make it difficult for most people to have proper meals, they have recourse to ready-to-eat foods such as extruded snack food. Growing number of young people and increasing disposable incomes in emerging regions are also expected to drive demand for extruded products for extruded snack foods.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Extruded Snacks Market: Global Industry Analysis 2015-2019& Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the Extruded Snacks Market offers global industry analysis for 2015-2019 & opportunity assessment for 2020-2030. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Extruded Snacks Market, the growth prospects of the market are obtained with maximum precision.
Extruded Snacks Market Taxonomy
The global Extruded Snacks Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Mixed grains
- Single Screw
- Twin Screw
- Convenience stores
- Hypermarkets and Supermarkets
- Independent retailers
- North America
- Latin America
- East Asia
- South Asia
The executive summary of the Extruded Snacks Market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global Extruded Snacks Market.
Readers can find the detailed segmentation and definition of the Extruded Snacks Market in this chapter, which will help them understand basic information about the Extruded Snacks Market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the Extruded Snacks Market report.
The associated industry assessment of the Extruded Snacks Market is carried out in this section. The macroeconomic factors affecting growth of the Extruded Snacks Market are provided in this section and the impact of these macroeconomic indicators on the Extruded Snacks Market is analyzed. The processing overview and technological advancements in the Extruded Snacks Market is also provided.
Profit margins at each level of the Extruded Snacks Market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the Extruded Snacks Market.
The drivers and restraints impacting the growth of the Extruded Snacks Market are explained in this chapter. Opportunities and ongoing trends in the Extruded Snacks Market are also comprehensively discussed.
This chapter includes detailed analysis of the historical Extruded Snacks Market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2020-2030).
Based on Product type, the Extruded Snacks Market is segmented into Rice, Corn, Potato, Mixed grains, and Others. In this chapter, readers can find information about key trends and developments in the Extruded Snacks Market and market attractiveness analysis based on raw material.
Based on Manufacturing method, the Extruded Snacks Market is classified into Single screw and Twin screw. This part also offers market attractiveness analysis based on Manufacturing method.
Based on Distribution channel, the Extruded Snacks Market is classified into Convenience stores, Hypermarkets and Supermarkets, Independent retailers, and Others. This part also offers market attractiveness analysis based on Distribution channel.
This chapter explains how the Extruded Snacks Market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
This chapter includes a detailed analysis of the growth of the Extruded Snacks Market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the Extruded Snacks Market in Latin America. This chapter also includes growth prospects of the Extruded Snacks Market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Extruded Snacks Market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic, Russia, Poland, and the Rest of Western Europe are included in this chapter.
In this chapter, readers can find information about key trends and developments in the key countries of South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia Extruded Snacks Market.
This chapter includes a detailed analysis of the growth of the Extruded Snacks Market in the East Asia region, along with a country-wise assessment that includes, Japan, China, and South Korea. Readers can also find regional trends, regulations, and market growth based on end users and countries in the APEJ region.
This chapter offers insights into how the Extruded Snacks Market is expected to grow in major countries in the Middle East region such as Australia and New Zealand, during the forecast period 2020-2030.
This chapter contains information about the market growth of Extruded Snacksin Middle East region such as GCC Countries, South Africa, North Africa, and the Rest of Middle East, during the forecast period 2020-2030.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the Extruded Snacks Market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the Extruded Snacks Market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Diamond Foods Inc., Calbee Inc., ITC Limited, Frito-Lay Inc., Kellogg Company, Bag Snacks, Old Dutch Foods, Inc., Want Want Holdings Limited, Arca Continental S.A.B. de C.V., Axium Foods Inc., JFC International Inc., Aperitivos Flaper, Mondelez International, Amica Chips S.P.A., Universal Robina Corp., and AUEVSS Ltd.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Extruded Snacks report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the Extruded Snacks Market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
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- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits