Description
Global Extruded Snacks Market Analysis and Forecast Report 2030
Global Extruded Snacks Market to surpass USD 80.2 billion by 2030 from USD 49.1 billion in 2020 at a CAGR of 5.1% in the coming years, i.e., 2021-30. This growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for Extruded Snacks. The growth of online stores is also propelling the selling of high-end products.
Product Overview
Extruded snacks are a form of food extrusion in which composite material is forced through a hole in a perforated plate with a special design for food items. Then, with the aid of scissors, it is cut to the desired amount. The extruder machine is made up of a large gyrating screw that is tightly fitted within a fixed barrel, with the die at the end of the barrel. Extrusion allows for mass food processing through an endless, well-organized method that ensures homogeneity in the final product. The starch content of food products made with this technique is usually very high. Many breakfast cereals, some pasta, breads, textured vegetable protein, ready-to-eat snacks, cookie dough, fat soy, confectionery, and some pet foods, baby foods, and beverages are among the foods that fall into this category.
Market Highlights
Consumers’ high intake of extruded snacks in round-the-clock meals is a major factor driving market growth. Additionally, they are usually consumed at parties, small and large events, entertainment centres, theatres, and other sites. Customers eat extruded treats in their spare time, when driving, and even when they are busy but hungry. Over the forecast period, these market developments are projected to fuel demand for extruded snacks.
Global Extruded Snacks Market: Segments
Expanded snacks segment to grow with the highest CAGR during 2020-30
Global Extruded Snacks Market is segmented by type into Simply extruded, Expanded and Co-extruded. The expanded snacks segment held the largest market share in the year 2020. This category includes a variety of high-fibre, nutrient-dense multigrain snacks. Expanded snacks are becoming more common as people become more health-conscious. Snacks that are often baked or roasted have become popular among consumers. Snacks are made with a number of ingredients, including corn, multigrain, and rice. These snacks are popularized as high-fibre, low-calorie balanced snacks because of their low bulk density.
Twin-screw extruder segment to grow with the highest CAGR during 2020-30
Global Extruded Snacks Market is divided by manufacturing method into Single-screw extruder and Twin-screw extruder. Over the forecast period, the twin-screw extruder segment is projected to expand at the fastest pace. Due to its lower price, the single-screw segment accounted for a greater share of the extruded snacks market in 2020 by the manufacturing process. However, through 2030, twin-screw extruders are expected to be the fastest-growing market. This is due to the twin-screw extruder’s superior mixing and pumping performance over the single-screw extruder. Twin-screw extruders can impart a greater number of potential configurations to the finished product, allowing for a broader range of shapes and snack ingredient adaptability. The operating performance of twin-screw extruders is substantially higher than that of single-screw extruders. As a result, more manufacturers are switching from single-screw to twin-screw extruders.
Hypermarkets & supermarkets segment to grow with the highest CAGR during 2020-30
Global Extruded Snacks Market is segmented by distribution channel into Convenience stores, Hypermarkets & supermarkets, E-commerce platforms and others. The hypermarkets &supermarkets segment held the largest market share in the year 2020. During the forecast period, it is predicted to be the largest and fastest-growing market. The wide variety of products available and the convenience of real-time brand comparison for customers are the primary reasons for hypermarkets and supermarkets’ popularity in this market. These formats also encourage impulse purchases in addition to supporting the on-the-go snacking trend.
Wheat segment to grow with the highest CAGR during 2020-30
Global Extruded Snacks Market is divided by raw material into Wheat, Potato, Corn, Rice, Multigrain, Oats and Other. Over the forecast period, the wheat segment is projected to expand at the fastest pace. Wheat, unlike potato and corn, is low in fat and carbohydrates and high in dietary fibres. Wheat is becoming more popular as a healthy snack, and manufacturers have responded by creating items in a variety of flavours. Companies are now selling their goods by focusing on customers who want nutritious snacks, and by substituting healthier raw materials for traditional raw materials, they are offering healthier alternatives.
Market Dynamics
Drivers
Increased storage period and surging demand from end-users
Surging demand for Extruded Snacks from numerous end-user industries is the key factor contributing in market growth. Furthermore, extruded snacks have a low moisture content (around 4-6%), which makes them shelf-stable and extends their shelf life. These shelf-stable, nutrient-dense foods are thought to be suitable for reducing malnutrition in developing countries. Modern extruded snacks have paved the way for the use of a variety of nutrient-dense ingredients to create both nutritious and appealing items.
Rising health concerns and availability of essential vitamins and nutrients
Consumers are becoming more conscious of their snacking habits, and are increasingly adopting healthier snacking foods such as extruded snacks due to the metabolic benefits they provide. Healthy snacking is also well-regarded as a supplement to weight loss, as these snacks provide the body with important vitamins and nutrients. Protein and starch digestion skill can be modified to change the nutritional content of extruded snacks. Over the forecast period, the Global Extruded Snacks Market market is expected to be driven by growing demand for weight control and healthy snacking.
Restraint
Competition from local manufacturers and high costs associated with market
Abstinence-related health issues are on the rise, as is competition from local manufacturers; that raw material and manufacturing costs are the market’s stumbling block.
Global Extruded Snacks Market: Key Players
Amica Chips
Calbee, Inc.
ITC Limited
Frito-Lay, Inc.
Kellogg Company
Want Want Holdings Limited
Axium Foods. Inc.
JFC International, Inc.
Mondelez International
Other Prominent Players
Global Extruded Snacks Market: Regions
Global Extruded Snacks Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Global Extruded Snacks Market in APAC held the largest market share in the year 2020. The increasing adoption of Western culture in the area, rising disposable income, and the on-the-go snacking trend among the urban population due to busy lifestyles are all factors driving the APAC region’s development. Consumers in the region tend to buy cheaper goods due to the developing economic conditions in the majority of countries and therefore prefer generic or domestic brands. The availability of such snacks has become much easier due to the increasing trend of hypermarkets and supermarkets in the area, which is further bolstering market growth in APAC.
Global Extruded Snacks Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Extruded Snacks Market report also contains analysis on:
Extruded Snacks Segments:
By Type
Simply extruded
Expanded
Co-extruded
By Manufacturing Method
Single-screw extruder
Twin-screw extruder
By Distribution Channel
Convenience stores
Hypermarkets & supermarkets
E-commerce platforms
Other
By Raw Material
Wheat
Potato
Corn
Rice
Multigrain
Oats
Other
Extruded Snacks Dynamics
Extruded Snacks Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Extruded Snacks Market Report Scope and Segmentation
Frequently Asked Questions
How big is the Extruded Snacks market?
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