Global Snack Pellets Market to Reach US$ 2671.82 Mn by 2030
The global snack pellets market is projected to reach US$ 2671.82 Mn by the end of 2030. The market was valued at US$ 1563.5 Mn in 2020. If these figures hold true, the market will exhibit a CAGR of 5.5% between 2020 and 2030. The snack pellets market has been growing with rising demand for processed foods, increasing trend of healthy snacking and the growing preference for fat-free and enhanced flavor snacks. North America holds the largest share in the global snack pellets market. However, the market may witness resistance to growth in the region on account of the spread of coronavirus. The U.S. is one of the worst hit countries in the world, battling in a war-time footing to contain the spread of coronavirus. Various regulatory measures imposed to curb mobility in order to stop COVID-19 from spreading are hampering supply-chain functions. This could have a negative impact on the market
Key Research Findings
- The snack pellets market is projected to record a CAGR of 5.5% over the forecast period (2020-2030).
- The market revenue may face a slight slowdown in 2020 due to shutdown of foodservice outlets triggered by COVID-19 crisis.
- The trend of snacking and high demand for comfort food during the global pandemic continues to boost the sales, with consumers leaving retail shelves empty.
- Mixed grain snack pellets remain the bestselling category, accounting for major share of manufacturers’ bottom lines.
- North America holds significant share of global market value.
- Increasing commercialization of the food processing industry and rising demand for nutritional snacks continue to drive the regional market growth.
- Asia Pacific’s market is set for robust growth, owing to changing consumer lifestyles and a resultant rise in demand for convenience foods.
- Westernization of diets and a gradual shift towards new flavours in the region are key growth promoters.
Key Factors Shaping Snack Pellets Market
High Popularity of Snacking Trend
Over the years, traditional eating patterns built around three ‘square’ structured meals a day have given way to a world of on-the-go consumers characterized by frequent snacking. Decelerating trend of meal planning and cooking, often disrupted by time pressures and competing commitments among the new generation, has also brought a range of snacking products to the market. The result is leading to increased demand for snack pellets.
Strong focus on ‘Better-for-you’ Formulations
Development of healthy pellets with high nutritional content, hot air baking processes, and improved packaging has been contributing to the emergence of snack pellets as better-for-you products. Manufacturers are indentifying and leveraging ingredients with rich health profiles such as mixed grains to align with ‘free-from’ trend. Snacks evolving from a simple between-meal treat to an everyday part of modern life along with growing health consciousness are expected to influence future growth strategies
Supply Chain Disruptions Due to COVID-19
As consumers settle into the new normal of social distancing or staying at home to curb the rapid spread of COVID-19, they are seeking more comforting and indulgent products. While increased sales to grocery stores and other retailers during the pandemic continue to improve the business of manufacturers, uncertainty swirls around as a result of shutdowns of significant segment of a country’s economy – stadiums, movie theatres, arenas, and amusement parks. The shuttering of factories and supply chain units is further likely to create a demand-supply gap.
Snack Pellets Market Structure Analysis
- Attractive packaging coupled with promotional activities remains prominent growth strategies
- Policies related to hygiene during manufacturing are in place to gain consumers’ trust.
- Business to move online during the pandemic for steady revenue returns.
Base year considered
Actual estimates/Historical data
2015 - 2019
2020 - 2030
Product, Technique, Form
North America, Europe, Asia Pacific, Middle East and Africa and Latin America
Balance Foods Inc, Liven S.A., Grupo International Michel, J.R. Short Milling Company, Limagrain Cereal Ingredients, Intersnack Group Gmbh& Co, Pasta Foods Ltd. Other companies including Dalmaza Food Industries Co, Quality pallet, Leng-Dor S.A
Increasing demand for Prepared and Convenience Foods Driving Market
The prepared and durable food has various advantages, such as longer self-life, durability, bulk density and durable for storage. Users prefer snack pellets over other alternatives because of the aforementioned advantages. Owing to the great variety of products in terms of shapes, textures, colours and tastes, the global demand for snack pellets is increasingly growing. The snack pellets own properties such as long shelf life, high density features as well as simplifying the storage process, contribute to the growth of the global market for snack pellets. As well as growing health awareness and consumption through snacks of nutrients, minerals, proteins, energy, saturated fats and salts, the demand for snack pellets is increased.
Consumers, especially the young people, have become more inclined to eat processed food and ultra-processed food. Their habits of consumption are influenced mainly by the western culture. Furthermore, consumers ' busy lifestyle, particularly for the young population, has resulted in problems with time constraints, where they have limited time to eat proper cooked food. Due to this factor, the resort to the consumption of ready to eat/processed foods for efficient time management. This trend has increased significantly over the past few years, especially in the developing countries on account of increased employment opportunities, resulting in increasing purchasing power of the consumers.
The Gelatinized Segment is Projected to Account for the Largest Market Size
On the basis of form, the snack pellets market is segmented into laminated, die-face, tridimensional, and gelatinized. Gelatinized pellets are uniform in thickness; and they are usually smooth, with surface holes. The thickness is important for maintaining consistency of the form during frying or toasting. Gelatinized pellets can be produced using a specially designed high-speed rotary cutting machine which punctures the holes in a sequential and synchronous way and cuts the sheet into the desired form. Hence, the gelatinized form of snack pellets in the food industry is witnessing growth.
* This data is only a representation. Actual data may vary and will be available in report.
North America is Projected to Account for the Largest Market Size
During the forecast period, North America is expected to dominate the snack pellets market. North America holds the largest share of the snack pellets market, both in terms of volume and value, due to the ample supply of raw materials and the existence of a powerful food processing industry. Additionally, customers strongly enjoy snacks made from potato. These factors are responsible for the largest share of potato-based snack pellets in the region. Increasing commercialization of the food processing segment and rising demand for nutritional snacks are the main driving factors behind the market growth of snack pellets. However, the market will take a hit due to the COVID-19 outbreak in 2020. As COVID-19 further spreads, global markets, especially North America and Europe, will face demand-side issues. People may postpone purchase decisions due to economic uncertainty and to avoid social interaction.
Multigrain segment held the leading market share
Potato pellets segment forecast to higher rate of growth
Gelatinized form held lion’s share in the market
Tridimensional form segment to remain the second-lead
Single-screw extruder segment holds dominance
Twin-screw extruder segment segment to rise at a higher CAGR
How Growth will Unfold
The market for snack pellets is a competitive one, and is projected to expand rapidly during the forecast period due to the presence of large and medium-sized companies vying to gain greater market share. Ever changing patterns in consumer tastes and purchasing behaviour are likely to affect the market. Industries would have to constantly launch new and improved product varieties with unique recipes, to thrive, and to produce income. The market is expected to be affected by factors such as availability and price of raw materials, attractive packaging coupled with promotional campaigns, and policies relating to hygiene during production.
* 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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Snack Pellets Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the Snack Pellets 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 Snack Pellets Market, the growth prospects of the market are obtained with maximum precision.
Snack Pellets Market Taxonomy
The global Snack Pellets Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Mixed Grains
- Others (Cereals, Legumes, Etc.)
- Dying Faced
- Tridimensional & Gelatinized Snack Pellets
- Single-Screw Extruder
- Twin-Screw Extruder
- North America
- Latin America
- East Asia
- South Asia
The executive summary of the Snack Pellets Market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global Snack Pellets Market.
Readers can find the detailed segmentation and definition of the Snack Pellets Market in this chapter, which will help them understand basic information about the Snack Pellets Market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the Snack Pellets Market report.
The associated industry assessment of the Snack Pellets Market is carried out in this section. The macroeconomic factors affecting growth of the Snack Pellets Market are provided in this section and the impact of these macroeconomic indicators on the Snack Pellets Market is analyzed. The processing overview and technological advancements in the Snack Pellets Market is also provided.
Profit margins at each level of the Snack Pellets Market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the Snack Pellets Market.
The drivers and restraints impacting the growth of the Snack Pellets Market are explained in this chapter. Opportunities and ongoing trends in the Snack Pellets Market are also comprehensively discussed.
This chapter includes detailed analysis of the historical Snack Pellets 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 Type, the Snack Pellets Market is segmented into potato, corn, rice, tapioca, mixed grains and others (cereals, legumes). In this chapter, readers can find information about key trends and developments in the Snack Pellets Market and market attractiveness analysis based on raw material.
Based on Form, the Snack Pellets Market is classified into dying faced, laminated, and tridimensional & gelatinized snack pellets. This part also offers market attractiveness analysis based on Form.
Based on Equipment, the Snack Pellets Market is classified into Dying Faced, Laminated and Tridimensional & Gelatinized Snack Pellets. This part also offers market attractiveness analysis based on Equipment.
This chapter explains how the Snack Pellets 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 Snack Pellets 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 Snack Pellets Market in Latin America. This chapter also includes growth prospects of the Snack Pellets Market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Snack Pellets 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 Snack Pellets Market.
This chapter includes a detailed analysis of the growth of the Snack Pellets 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 Snack Pellets 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 Cheese Powder in 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 Snack Pellets 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 Snack Pellets 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 Balance Foods Inc., Liven S.A., Grupo International Michel, J.R. Short Milling Company, Limagrain Cereal Ingredients, Intersnack Group Gmbh & Co, Pasta Foods Ltd, Dalmaza Food Industries Co, Quality pallet, Leng-Dor S.A., Chhajed Foods Pvt. Ltd., Pellsnack-Products GmbH.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Cheese Powder report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the Snack Pellets Market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- 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