The new report by Expert Market Research titled, ‘Global Extruded Snack Food Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives in-depth analysis of the global extruded snack food market, assessing the market based on its segments like material, type, extrusion method, distribution channel, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028):
- Historical Market Size (2022): USD 88.31 billion
- Forecast CAGR (2023-2028): 2.3%
- Forecast Market Size (2028): USD 101.22 Billion
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 is expected to be driven by growing demand for weight control and healthy snacking.
Industry Definition and Major Segments
Food extrusion is a type of extrusion technique used in food processing. It is a method of forcing a variety of ingredients through an opening in a holed die or plate with a pattern that is visible to the food. Then, with the aid of scissors, it is cut to the desired amount.
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On the basis of material, the industry is divided into:
- Potato
- Corn
- Rice
- Tapioca
- Mixed grains
- Others
On the basis of types, the industry is categorized into:
- Simply Extruded
- Expanded
- Co-Extruded
On the basis of extrusion method, the industry is bifurcated into:
- Single screw processing
- Twin screw processing
On the basis of distribution channel, the industry is segmented into:
- Supermarkets/Hypermarkets
- Convenience stores
- Specialty food stores
- Online retail
- Others
Based on region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The market is being driven by changing lifestyles and eating habits, a growing preference for ready-to-eat prepared food, lower commodity costs, and a thriving retail industry. Market expansion is aided by rapid urbanisation and rising disposable income. The market’s growth could be limited by high production costs, volatile raw material prices, and rising health concerns. However, the introduction of regional and local flavours in extruded snacks, as well as increasing demand for healthier extruded snacks, are expected to open new business opportunities.
Despite reaching maturity levels in developed markets, demand for extruded snack foods is expected to rise in emerging markets over the forecast period, owing to a variety of growth-promoting factors. As a result of increased urbanisation, the vast majority of the population now lives in a fast-paced environment. Extruded snack food demand is expected to rise in emerging regions due to an increase in the number of young people and rising disposable incomes.
In the global extruded snacks market, Asia Pacific is likely to be the most lucrative region. Customers in this area have access to a variety of snacking options at affordable prices. Over the forecast period, however, the demand in this area will be driven by a change in consumer preference toward snacks with health benefits.
Key Market Players
The major players in the market Baker Perkins, Chipita S.A., Bunge North America, Inc., Clextral among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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