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Extruded Snacks Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Category, Raw Material, and Distribution Channel

Extruded Snacks Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Category, Raw Material, and Distribution Channel

  • June 2022
  • 168 pages
  • ID: 6295670
  • Format: PDF
  • The Insight Partners

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The extruded snacks market is projected to reach US$ 93,898.88 million by 2028 from US$ 62,124.75 million in 2022. It is expected to grow at a CAGR of 7.1% during 2022–2028.

The growth of the extruded snacks market is driven by the rise in product offerings by extruded snacks manufacturers.People are highly conscious about their health, particularly the young generation, .

Therefore, there is a high creating a high demand for packed and ready-to-eat food products with that have high protein content, which are gluten-free, and contain zero additives.Thus, the key players are innovating their product portfolio to attract a more large consumer base.

The demand for the extruded snacks market is anticipated to grow in during the forecast period owing to rising preference for nutritionally fortified products due to increasing awareness concerning regarding health and nutrition which has led them to demand more nutritionally fortified products.People are careful with about their food intakediet, and this is making them more conscious about the amount of fat, sugar, and other ingredients quality while buying snacks.

Hence, the shift in consumption trends has forced firms in the extruded snacks industry to come up with innovative and healthier products.

Based on category, the global extruded snacks market is segmented into second generation snacks and third generation snacks.In 2021, the second generation snacks segment accounted for a larger market share, and whereas the third generation snacks segment is expected to register a higher CAGR during the forecast period.

The demand for extruded snacks containing pulses, lentils, cereals, grains, and low sugar is higher high due to the growing incidence of diabetes, obesity, and other diseases.In addition, growing disposable income has led to the increasing consumption of healthy food items containing vitamins, minerals, and other nutrients.

According to NHS, an adult in the UK should not have more than 30g of free sugar on a daily basis.

The The Kellogg Company has entered into an agreement to acquire small to medium enterprises, . and later iIn 2021, key players they have launched extruded snack products, which appeal to consumers with healthy preferences. Therefore, the added protein and the avoidance of artificial colors, flavors, ingredients, or preservatives may help the company stand out and attract largemore consumer base.

By region, the extruded snacks market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM).In 2020, Asia Pacific held the largest share of the market and is estimated to register the highest CAGR in the market during the forecast period.

The region includes consists of developing countries, such as China and India, that are densely populated and have high extruded snacks consumption among the masses.Consumer perception of extruded snacks is constantly evolving where convenience and pass time snacking time are ideal.

CThe convenience stores and supermarkets and hypermarkets distribution channel areis the most recognized distribution channels channel for ready extruded snacks.Key players are focusing on online retailing to market sell their products to and expand their market share, and as well as increase their customer base.

Therefore, due to the easy access and rising demand for these snacks, the market is anticipated to increase witness growth in during the forecast period.

PepsiCo; AMICA CHIPS S.p.A.; Calbee; PEPPERIDGE FARM INCORPORATED; Kellogg’s Company; General Mills Inc.; Meiji Holdings Co., Ltd.; Sensible Portions; Old Dutch Foods, Inc.; and Mikesell’s Snack Food Company are among the players operating in the extruded snacks market. These companies provide a wide range of product portfolios for the market. The companies have their presence in the developing regions, which provides lucrative opportunities for market growth. Market players are developing high-quality, innovative products to meet customer requirements.

The size of the global extruded snacks market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights into the topic. Participants in of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the extruded snacks market.

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