Extruded Snacks Market Size, Share, Growth And Forecast Report 2022-2029
Posted on Feb 13 2023 6:06 AM
"Companies covered in Extruded Snacks Market are PepsiCo, Inc. (U.S.), Calbee, Inc. (Japan), Kellogg Company (U.S.), Campbell Soup Company (U.S.), General Mills, Inc. (U.S.), ITC Limited (India), Grupo Bimbo (Mexico), Mondelez International (U.S.), JFC International (U.S.), Lorenz Snack World (Germany) and Others "
The global extruded snacks market is anticipated to grow during the forecast period due to the increasing demand for conventional and ready-to-eat food items. Fortune Business Insights™ publishes this information in a report titled, "Extruded Snacks Market, 2022-2029". As per the report, the extruded snacks industry size was valued at USD 50.37 billion in 2021. The market size is expected to rise from USD 53.20 billion in 2022 to USD 77.72 billion by 2029 at a CAGR of 5.57% during the projected period.
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List of Key Players Profiled in Market Report For Extruded Snacks:
- PepsiCo, Inc. (U.S.)
- Calbee, Inc. (Japan)
- Kellogg Company (U.S.)
- Campbell Soup Company (U.S.)
- General Mills, Inc. (U.S.)
- ITC Limited (India)
- Grupo Bimbo (Mexico)
- Mondelez International (U.S.)
- JFC International (U.S.)
- Lorenz Snack World (Germany)
Corn Based Products Dominates The Market Due to a Wide Range of Flavors & Textures
The market is categorized into corn, wheat, potato, rice, and others by product type.
The market is divided into supermarkets/hypermarkets, convenience stores, specialty stores, and online retail based on distribution channels.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers & Restraints:
Rising Demand For Conventional Food Products To Foster Market Growth
The increased demand for convenient and on-the-go food products is attributed to the extruded snacks market growth. Also, increasing adoption of protein-rich and nutritional food is expected to fuel the market growth during the forecast period. Furthermore, changing the population's lifestyle and evolving eating habits are anticipated to drive the market and increase the sales rate for the extruded snacks in segmented regions.
However, high processing costs and technical errors may hinder the market growth during the projected period.
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Asia Pacific Holds Highest Market Share Due To Increasing Consumer Demands
Asia Pacific dominates the global extruded snacks market share due to the region's emerging food and beverage industries. Also, increasing consumer demands for ready-to-eat and convenient food is expected to drive regional market growth.
North America stands at second-highest global market position during the forecast period due to increasing investments in the market. Also, increasing population and rising snack consumption are expected to fuel regional growth.
New Product Launch Allow Companies to Enhance Their Product Portfolio
The key market players focus on adopting several business growth strategies such as mergers, acquisitions, alliances, and partnerships. Also, the companies implement various innovative business development strategies by incorporating technological advancements to enhance their product portfolio. Furthermore, the companies implement various practices to globalize their business and attract global customers.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Impact of COVID on Supply Chain of Extruded Snacks Market
- Global Extruded Snacks Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- By Distribution Channel (Value)
- Convenience Stores
- Specialty Stores
- Online Retail
- By Region (Value)
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Product Type (Value)
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Notable Industry Development:
- March 2020: The U.S.-based snack manufacturer, ReGrained, has launched a new product, ‘Regrained Puffs.’ The product is a grain blend and can be used to manufacture various extruded snacks.
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