According to the latest report by IMARC Group, titled “Latin America Extruded Snack Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the Latin America extruded snack food market size reached US$ 4.8 Billion in 2022. Extruded snack food is a processed snack that is manufactured through the extrusion process. It comprises various food products, such as corn puffs and curls, macaroni, onion rings, bread, processed cheese, and breakfast cereal, that are processed under high temperatures and pressures to create a unique texture. It is manufactured from several ingredients, such as rice, wheat, corn, oats, potatoes, and tapioca. It is widely available in different flavors, such as cheese, barbecue, and spicy varieties. It is a convenient, ready-to-eat (RTE), cost-effective, and time-saving food product. As it assists in maintaining a feeling of fullness, the demand for extruded snack food is rising in Latin America.
Latin America Extruded Snack Food Market Trends:
At present, the rising consumer preferences for premium snacks among individuals represent one of the major factors impelling the market growth in Latin America. In line with this, the growing demand for dairy-free ingredients extruded snack foods due to the rising health consciousness among individuals is offering a positive market outlook. Additionally, the increasing utilization of convenient and portable snack options is providing lucrative growth opportunities to industry investors in Latin America. Apart from this, the rising adoption of extruded snack food on account of changing dietary patterns among individuals is supporting the market growth. In addition, the growing consumer demand for natural and organic food products that are chemical and preservatives free is positively influencing the market in Latin America. Besides this, the wide availability of extruded snack food through various distribution channels, such as hypermarkets, supermarkets, and convenience and online stores, in the region is strengthening the growth of the market. Furthermore, the increasing demand for ready-to-eat (RTE) products among people having busy schedules and hectic lifestyles is contributing to the growth of the market in Latin America. Looking forward, the market value is projected to reach US$ 6.2 Billion by 2028, expanding at a CAGR of 4.39% during 2023-2028.
- Based on the type, the market has been classified into potato, corn, rice, tapioca, mixed grains, and others. Presently, potato dominates the market, holding the largest share.
- On the basis of the distribution channel, the market has been divided into supermarkets/hypermarkets, convenience stores, specialty food stores, online retail, and others. At present, supermarkets/hypermarkets account for the majority of the market share.
- Region-wise, the market has been segmented into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others. Amongst these, Brazil enjoys the leading position in the market.
- The competitive landscape of the market has also been examined.
|Base Year of the Analysis
|| US$ Billion
||Type, Distribution Channel, Country
||Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
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