Extruded Snacks Market New Business Opportunities, Investment Research, Outlook, Region, Report Forecast To 2023
Extruded Snacks Market Overview:
Extruded snacks Market are derived through extrusion process of blending, shaping, drying, flavoring and packaging. Most commonly used sources for extrusion snacks are potato, rice, corn, tapioca, mixed grain, and others. Extrusion is an important food processing technique for the preparation of nutritious food for which extruded snacks are gaining popularity as a healthy snack. Increasing health conscious population and their awareness towards healthy snacking is driving the growth of extruded snacks market.
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Extrusion is a process that combines several operations such as mixing, cooking, kneading, shearing, shaping and forming. It is a popular means of preparing healthy snacks and ready to eat foods. High inclination of consumers towards ready to eat packaged foods is driving the growth of extruded snacks market.
Changing lifestyle and consumers’ consumption pattern is further driving the growth of extruded snacks market. Moreover, innovation with flavors in extruded snacks is boosting the growth of extruded snacks market. Furthermore, aggressive marketing strategies and attractive packaging is adding fuel to the growth of extruded snacks market. All these factors are projected to contribute to the estimated CAGR of 4.9% of extruded snacks market during the forecast period 2017-2023.
Latest Industry Updates
Jan 2018 GEA plans to extend their portfolio following their acquisition of Pavan Group in Italy, which supplies extrusion and milling technology for processing pasta, snacks and breakfast cereals.
Dec 2017 Prataap Snacks, a leading Indian snack foods company with products spanning across various categories like extruded snacks, chips & namkeen, has entered the category of sweet snacks market through its wholly owned subsidiary with the launch of its new brand ‘Rich Feast’.
The Major Players In The Extruded Snacks Market
- Calbee, Inc. (Japan)
- Kellogg Co. (U.S.)
- Frito-Lay North America, Inc (U.S.)
- ITC (India)
- Diamond Foods Inc. (U.S.)
- Mondelez International Inc. (U.S.)
- Old Dutch Foods, Inc. (U.S.)
Extruded Snacks Market can be segmented based on type such as sweet and savory. Savory segment is dominating the extruded snacks market and is expected to witness a substantial growth over the estimated period. Whereas sweet segment is projected to grow at a moderate rate in the coming years.
On the basis of source, extruded snacks market is segmented into potato, rice, corn, tapioca, mixed grain, and others. Among all, potato segment is dominating the market owing to its attribute of easy break down with definite flavor. However, rice and corn are expected to witness substantial growth in the coming years.
Based on distribution channel, extruded snacks are segmented into store based and non-store based. Store based distribution channel is dominating the market among which hypermarket and supermarket are the major contributors based on self-picking shopping experience and multiple brand options available to the customers.
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The global Extruded Snacks Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the market based on a wide range of variety available to the consumers at reasonable prices. India is the major contributor to the growth of extruded snacks market in Asia Pacific.
Europe is expected to grow substantially over the forecast period owing to high inclination towards healthy snacking among the consumers. In North America, the U.S. is the major contributor of extruded snacks market. Moreover, continuous innovations and intense competition among key players is growing the extruded snacks market in rest of the world.