Extruded snack foods are made by the extrusion of various ingredients such as corn, tapioca, oats, potatoes, wheat, etc. Some of the most prevalent extruded snack foods include breakfast cereals, corn curls, onion rings, pasta, fish paste, jelly beans, macaroni, processed cheese, breads, etc. The extrusion process offers the ability to choose the ingredients and the ways of processing them. Manufacturers use this in order to produce healthier snacks with varied ingredients. Moreover, the extrusion process eliminates some of the naturally occurring toxins and reduces the micro-organisms present in the final product, thereby making them safer for consumption. According to IMARC Group, the global extruded snack food market reached a value of US$ 45.42 Billion in 2020.
Despite reaching maturity levels in the developed markets, the demand for extruded snack foods is expected to increase in the emerging markets over the forecast period driven by a number of growth inducing factors. As a result of the rising urbanisation, a vast majority of population lives a fast-paced lifestyle. Since the long working hours make it difficult for most people to have proper meals, they resort to ready-to-eat food products such as extruded snack foods. Growing number of young population and increasing disposable incomes in the emerging regions are also expected to drive the demand for extruded snack foods. Looking forward, IMARC Group expects the global extruded snack food market to grow at a CAGR of 4.90% during 2021-2026.
IMARC Group’s latest study, titled, “Extruded Snack Food Market – Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, has segmented the global extruded snack food market on the basis of key regions covering Asia Pacific, Europe, North America, Latin America and Middle East and Africa. Currently, Europe represents the largest consumer. The report is further segmented the market on the basis of product type and distribution channel. Based on product type, the market is categorised into potato, corn, rice, tapioca, mixed grains and others. On the basis of distribution channel, the market is segmented as supermarkets and hypermarkets, convenience stores, specialty food stores, online retail and others.The report has also analysed the competitive landscape of the market covering the major players. According to the report, Pepsico currents represents the biggest player in the global extruded snack foods market.
This report provides a deep insight into the global extruded snack food industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up an extruded snack foods manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the extruded snack foods industry in any manner.
Key Questions Answered in This Report:
The global extruded snack food market reached a value of US$ 45.42 Billion in 2020.
According to the estimates by IMARC Group, the global extruded snack food market to grow at a CAGR of 4.90% during 2021-2026.
A significant rise in the demand for ready-to-eat (RTE) food products on account of rapid urbanization, hectic lifestyles and inflating disposable incomes represents one of the key factors impelling the market growth.
With the rising health consciousness among individuals, several manufacturers are offering variants with better nutrition and low-fat content in different shapes and flavors. This is acting as a major trend driving the market.
The outbreak of the coronavirus disease (COVID-19), disruptions in the supply chain and lockdowns imposed by governing agencies of several countries are negatively impacting the growth of the market.
Based on the type, the market has been classified into potato, corn, rice, tapioca, mixed grains and others.
The market has been analyzed on the basis of the distribution channel into supermarkets/hypermarkets, convenience stores, specialty food stores, online retail and others.
On the geographical front, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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