The global Extruded Snacks market size is expected to be worth around US$ 74.52 billion by 2027, according to a new report by Vision Research Reports.
The global Extruded Snacks market size was valued at US$ 51.60 billion in 2020 and is anticipated to grow at a CAGR of 4.6% during forecast period 2021 to 2027.
Extrusion technique which is used in food processing is known as food extrusion. It is a procedure by which a number of assorted ingredients are forced through an opening in a holed die or plate with a pattern explicit to the food. Then it is cut to an indicated size with the help of blades. The extruder machine consists of a huge gyrating screw firmly fitted within a fixed barrel; at the end of the barrel is the die. The process of extrusion allows mass manufacturing of food through an endless, well-organized system that guarantees homogeneity of the end product. Food products which are manufactured using this technique typically have very high starch content in them. These food items include many breakfast cereals, some pasta, breads, textured vegetable protein, ready-to-eat snacks, cookie dough, fat soy, confectionery, and certain pet foods, baby foods, and beverages.
Currently, consumers are extra cautious about their snacking routines and are gradually embracing healthy snacking foods such as extruded snacks due to the benefits offered by them related to metabolism. Healthy snacking is also well-thought-of as an accompaniment to weight-loss, and these snacks deliver the essential vitamins and nutrients that the body needs. The nutritional substances of extruded snacks can be transformed by altering the digestion competence of protein and starch. The increasing demand for weight management and healthy snacking is likely to drive the global extruded snacks market over the forecast period.
Large consumption of extruded snacks in round the clock meals by the consumers is a key factor boosting the market growth. Moreover, they are widely consumed in parties, small or large gatherings, entertainment centers, theaters, and various other places. Extruded snacks are also largely consumed by the customers during their free time, travel, and even when they are busy but hungry. These consumer trends are anticipated to boost the demand for extruded snacks over the forecast period.
Increasing consciousness among consumers regarding their snacking habits and rising adoption of healthy products during snacking time are the key factors boosting the market growth.
Moreover, growing party culture among millennials and working-class population across the globe is anticipated to offer growth opportunity for the market over the forecast period. Extruded snacks are considered beneficial in many ways as they help in weight management and improving metabolism. Furthermore, these healthy products offer various nutrients and vitamins to the body, thus promoting the adoption among all the consumer groups.
Potato based extruded snacks dominated the extruded snacks market in 2020 with a share of more than 25.5% in terms of volume as well as revenue. It is expected to maintain it's lead over the forecast period owing to large consumption of potato based extruded products, including chips and pallet snacks. According to the United States Census Bureau, around 60% of potato produced in the U.S. is sold in the form of chips, French fries, dehydrated potato snacks, and other potato products. These trends are anticipated to boost the demand for the potato based extruded snacks over the forecast period.
Tapioca based extruded snacks are anticipated to expand at a CAGR of 4.5% in terms of volume from 2021 to 2027 owing to increasing demand for healthy and nutritious snacks among the young generation across the globe. Tapioca is widely consumed in Latin America, Africa, and Asia in different forms owing to its high nutritional property. These consumer trends are anticipated to open new avenues for tapioca based extruded snacks over the forecast period.
Distribution Channel Insights
Supermarkets and hypermarkets emerged as the largest sales channel in 2020 with a share of more than 35.4% in terms of volume. Increasing consumer preferences for healthy snacks with a wide variety of flavors, coupled with high shelf life, are driving this distribution channel. Moreover, supermarket and hypermarket giants such as Walmart, Target, 7Eleven, SPAR, Aldi, Carrefour, and Lidl have a large grocery store chain across the globe with a vast customer base, thus driving the demand for extruded food products through this distribution channel over the forecast period.
The online retail distribution channel is anticipated to expand at the fastest CAGR of 5.6% in terms of revenue from 2021 to 2027. The growth of online retail is attributed to its easy, comfortable, and convenient accessibility, coupled with doorstep delivery. The rising adoption of smartphones, coupled with the growing reach of the internet across the globe, is expanding the scope of online sales. Moreover, online giants such as Amazon Prime Pantry, Alibaba, Yihaodian, Godrej Nature's Basket, Tesco.com, Walmart, and Honestbee are expanding rigorously owing to shifting consumer preferences. This, in turn, is expected to propel the sales of extruded snacks through online retail in the forthcoming years.
Europe led the market in 2020 with a share of more than 40.3% based on volume. Snacking in Europe during social occasions and on-the-go or general snacking are propelling the demand for extruded snacks. Moreover, consumers are gradually shifting towards healthier options, such as wheat and cereal snacks. The consumers in U.K. are focusing on the health benefits of such products, whereas Germany is one of the fastest growing natural and organic healthy foods markets. Wholegrain wheat and other cereals are gaining popularity in snacks, coupled with pulse flours, seeds, and naturally processed grains.
Asia Pacific is anticipated to emerge as the fastest growing region, expanding at a revenue-based CAGR of 5.8% from 2021 to 2027 owing to a large population base in countries, such as China and India. Moreover, party culture with drinks and snacks is significantly growing in the Asian countries owing to the corporate culture, which is opening new avenues for extruded snacks in the regional market.
Nestlé S.A.; The Kellogg Company; General Mills Inc.; PepsiCo, Inc.; Campbell Soup Company; Calbee, Inc.; ITC Limited; Old Dutch Foods Inc.; Europe Snacks; and Universal Robina Corporation.
Extruded Snacks Product Outlook
Extruded Snacks Distribution Channel Outlook
Supermarkets & Hypermarkets
Extruded Snacks Regional Outlook
Central & South America
Middle East & Africa
The Extruded Snacks market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Extruded Snacks market for the base year 2020 and the forecast between 2021 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Extruded Snacks market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Extruded Snacks market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Extruded Snacks market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Extruded Snacks capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Extruded Snacks by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Extruded Snacks market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Extruded Snacks market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Extruded Snacks market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Extruded Snacks industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Extruded Snacks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Extruded Snacks market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Extruded Snacks market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Extruded Snacks market. These factors have benefited the growth of the global market for Extruded Snacks. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Extruded Snacks. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Extruded Snacks are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: