Extruded Snacks Market Size: Market Outlook and Market Forecast (2024 to 2031)
Market Overview and Report Coverage
Extruded snacks refer to a variety of snacks that are produced by extrusion, a process that involves forcing a mix of ingredients through a die to form a specific shape. These snacks are popular due to their unique textures and flavors, making them a favorite among consumers of all ages.
The current outlook for the Extruded Snacks Market is quite positive, with a steady growth trajectory expected in the coming years. The market is predicted to grow at a CAGR of % during the forecasted period, driven by factors such as changing consumer preferences, increasing disposable incomes, and the rise of snacking culture.
Some of the latest market trends in the Extruded Snacks Market include the introduction of healthier options using natural ingredients, innovative flavor combinations, and convenient on-the-go packaging. Manufacturers are also focusing on product differentiation and expanding their product portfolios to cater to a wider consumer base.
Overall, the future of the Extruded Snacks Market looks promising, with continued innovation and strategic marketing efforts expected to drive market growth and meet the evolving demands of consumers.
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Market Segmentation
The Extruded Snacks Market Analysis by types is segmented into:
- Potato
- Corn
- Rice
- Mixed Grains
- Other
Extruded snacks are available in various types such as potato, corn, rice, mixed grains, and other markets. Potato extruded snacks are made from potato starch, while corn snacks are made from cornmeal. Rice snacks are made from rice flour, and mixed grains snacks contain a combination of different grains. Other market types may include snacks made from legumes, pulses, or alternative flours. Each type of extruded snack offers unique flavors, textures, and nutritional profiles to cater to different consumer preferences.
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The Extruded Snacks Market Industry Research by Application is segmented into:
- Hypermarkets and Supermarkets
- Independent Retailers
- Convenience Stores
Extruded snacks are popular in hypermarkets and supermarkets due to their wide variety and brands available, making them a convenient option for shoppers looking for quick and easy snacking options. Independent retailers also benefit from offering extruded snacks as they cater to a diverse customer base seeking affordable and high-quality snack options. Convenience stores also see a high demand for extruded snacks as they appeal to on-the-go consumers looking for convenient and portable snack options.
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In terms of Region, the Extruded Snacks Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
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What are the Emerging Trends in the Global Extruded Snacks market?
The global extruded snacks market is experiencing several emerging trends, including the growing popularity of healthier and natural ingredient snacks, as well as a rise in demand for gluten-free and organic options. Additionally, there is a shift towards more innovative and unique flavor profiles to cater to changing consumer preferences. Current trends in the market include the increasing adoption of convenient packaging formats such as single-serve packs and resealable bags. Moreover, the market is witnessing a surge in online retail channels for extruded snacks, offering consumers more accessibility and convenience in purchasing these products.
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Major Market Players
The Extruded Snacks Market is highly competitive with key players such as Calbee, Diamond Foods, Frito-Lay, ITC, Kellogg's, Old Dutch Foods, Arca Continental, Amica Chips, Aperitivos Flaper, AUEVSS, Axium Foods, Bag Snacks, JFC International, Mondelez International, Universal Robina, and Want Want Holdings.
One of the leading players in the market, Frito-Lay, is a subsidiary of PepsiCo and is known for its brand of snacks such as Lay's, Cheetos, Doritos, and Tostitos. Frito-Lay has shown consistent market growth with a focus on introducing innovative flavors and packaging. The company's sales revenue for extruded snacks reached over $16 billion in 2020.
Another notable player, Kellogg's, is a global food company known for its breakfast cereals, snacks, and frozen foods. Kellogg's has a strong presence in the extruded snacks market with brands like Cheez-It and Pringles. The company has been investing in research and development to introduce healthier and innovative snack options. Kellogg's reported sales revenue of over $13 billion in 2020.
In terms of market trends, there is a growing demand for healthier extruded snacks made from natural ingredients and with lower levels of salt and fat. Companies are also focusing on expanding their product portfolios to cater to changing consumer preferences, such as gluten-free, organic, and non-GMO options.
The global extruded snacks market size was valued at $60 billion in 2020 and is expected to continue growing at a steady pace. Key players are likely to focus on expanding their distribution networks, investing in marketing and advertising, and developing new products to stay competitive in the market.
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