The new report by EMR titled, ‘Global Extruded Snack Food Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global extruded snack food market, assessing the market based on its segments like material, type, extrusion method, distribution channel, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
- Historical Market Size (2020): USD 84.3 Billion
- Forecast CAGR (2021-2026): 2.3%
- Forecast Market Size (2026): USD 94.45 Billion
The growth of extrusion snack market is driven by the growing demand for ready to eat snacks. The factor such as increasing urbanisation and hectic lifestyle in the developed and developing nations is increasing the demand for packaged, ready to eat food materials. Additionally, the changing eating habits and increasing disposable incomes will further propel the growth of the snacks market. Moreover, factors such as introduction of local flavours, increasing industrialisation and reduced human contact during production will aid the growth. However, the volatile raw material prices and growing health concerns towards packaged food may constrain the growth in the forecast period.
Industry Definition and Major Segments
Extrusion is a food processing technique in which assorted food material is pushed through a perforated plate or die to achieve a particular pattern and then cut in specific size with help of rotating blade. This technique is majorly used in production of food items such as cookie dough, fat soy, confectionery, breakfast cereals, some pasta, breads, textured vegetable protein, ready-to-eat snacks, and certain pet foods, baby foods, and beverages. This production process enables homogeneity in mass food production.
On the basis of material, the industry is divided into:
- Potato
- Corn
- Rice
- Tapioca
- Mixed grains
- Others
On the basis of types, the industry is categorized into:
- Simply Extruded
- Expanded
- Co-Extruded
On the basis of extrusion method, the industry is bifurcated into:
- Single screw processing
- Twin screw processing
On the basis of distribution channel, the industry is segmented into
- Supermarkets/hypermarkets
- Convenience stores
- Specialty food stores
- Online retail
The regional markets for extruded snack food include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Regionally, North America is the largest shareholder in the global extrusion food market. This can be attributed to presence of key market players and fast paced lifestyle. Moreover, the high disposable incomes aid the regional growth. Similarly, Europe is expected to be the next largest region after Europe. However, Asia Pacific is expected to show the fastest growth owing to the rapid industrialisation and growing disposable incomes. Further, penetration of global players, rising population and emergence of domestic players will aid the growth in the forecast period.
Explore the Full Report : https://www.expertmarketresearch.com/reports/extruded-snack-food-market
Key Market Players
The major players in the market are Baker Perkins, Chipita S.A., Bunge North America, Inc., Clextral, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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