According to the latest report by IMARC Group, Extruded Snack Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027, ”the global extruded snack food market size reached US$ 47.4 Billion in 2021.On account of the aforementioned factors, the market is expected to grow at a CAGR of 3.9% during 2022-2027.
Extruded snacks are manufactured by the process of extrusion that involves the passing of soft ingredients through an opening in a die or perforated plate that is designed to produce a specific shape. It allows mass production of snack foods while ensuring homogeneity of shape and appearance. The process enables the elimination of naturally produced toxins that makes the snacks safer and healthier for consumption.
Various raw ingredients, such as corn, oats, tapioca, potatoes and wheat, are utilized to produce chips, pasta, cereals, macaroni, puffed corns, baby food, and processed cheese. These snacks are characterized by cost-efficiency and extended shelf life, due to which they are gaining widespread popularity among the masses.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Extruded Snack Food Market Trends and Drivers:
The global market is primarily driven by the increasing preference for processed and ready-to-eat (RTE) extruded snacks. This can be attributed to rapid urbanization, shifting dietary preferences and the inflating per capita income levels of the masses. The busy schedules and hectic lifestyles led by the working professionals across the globe have also contributed to the rising sales of convenience foods, including extruded snacks.
Apart from this, numerous key players have launched various fortified snack variants in the market to cater to the diverse preferences of their consumer base. Healthy snacks with low-fat and low-calorie content and added nutrients are gaining widespread prominence among health-conscious consumers, thereby providing an impetus to the market growth.
Numerous players are also introducing snacks with different flavors, shapes, textures, seasonings and ingredients to expand their product portfolio, which is creating a positive outlook for the market. Moreover, the easy product accessibility through proliferating online retail portals is another major growth-inducing factor. These online channels offer a vast array of product range with attractive discounts and flexible payment options to offer enhanced convenience to the users.
Key Market Segmentation:
The report has segmented the global extruded snack food on the basis of type, distribution channel and region.
Breakup by Type:
- Mixed Grains
- Convenience Stores
- Specialty Food Stores
- Online Retail
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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