The global extruded snacks market was Value estimated to account for USD 54.3 billion in 2020 and is projected to reach USD 72.6 billion by 2030, recording a CAGR of 7.2 % during the forecast period.
Extrusion includes many steps like mixing, cooking, kneading, forming, shearing, shaping, and forming. It also involves the manufacturing of food where all total process ends with a well-organized system. Here in this process starch content of the food is also being manufactured. Some of the food manufactured from this technique are bread, pasta, beverages, instant snacks, pet foods, and others. Consuming these food products has improved the market size. The increase in concern regarding protein and vitamins gives a healthy start to breakfast and certain other meals. These foods have certain benefits which effectively improve the diet in and help in digestion work.
The rise in demand for hygienic and processed food has concerns regarding a balanced diet and has flourished the extruded snacks market trends. Maximum people are suffering from health disorders and some weight-related disorders. The rise in demand for having healthy snacks including snacks for maintaining a diet has helped in driving up the market size. Experimentation and innovation of certain flavors have driven up the market size. Some of the marketing strategies are being applied for driving the market.
The market has been divided based on the distribution channel, type, and source. These segments are being segmented where these services have helped in propelling up the market size. Each of these divisions is very much important for market development. As per the type, the market is being segmented into sweet and savory units. The savory segment has been found to ve the most dominating unit improving the market size. People prefer the savory segment which has helped in driving up the market unit where it has brought high growth during the assessment period. Based on the source, the market is classified into corn, tapioca, rice, maize, and others. The rice and corn segment are the most dominating unit. Due to its high carbohydrate content, rice is easily consumed.
Asia Pacific region is the leading producer of extruded snacks and presence of certain extruded products available at a low price. This region holds the maximum share of the market. India is gound to be the major contributor to the extruded snacks. Europe and the North American region hold a maximum market share involving inclination towards the market. The Latin American region shows influential growth and covers a huge market share during the review period.
The key players of the meat snacks market are playing a major role in the improvement of market growth. Certain key players playing in the market are Kellog Co. Of the United States, ITC of India, Mondelez International Inc. of the United States, Diamond food Inc. of the United States, Old Dutch Food Inc. of the United States, Frito lay North America Inc. of the United States and Calbee Inc. of Japan. Kelloggs in its partnership has launched certain products which have improved the spirit of the growing market. The presence of these players has helped in improving the goal of the market. The market is expected to grow exponentially.
Big players in the global extruded snacks market are Calbee Inc. (Japan), Diamond Foods Inc. (USA), Frito-Lay North America Inc (USA), ITC Limited (India), Kellogg Co. (USA), Mondelez International Inc. (USA), and Old Dutch Foods Inc. (USA).
Latest Industry News
- GoGo squeeZ® is introducing Limited Edition Halloween Packs that contain healthy portable and squeezable snacks for kids. 25 SEP 2019
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