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Extruded Snacks Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | General Mills Inc., ITC Limited, Calbee Inc., Kellogg Company, Campbell Soup Company, JFC International Inc
Extruded Snacks Market Trends
The Business Research Company offers in-depth market insights through Extruded Snacks Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The extruded snacks market size has grown strongly in recent years. It will grow from $61.53 billion in 2023 to $65.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to changed consumer preferences, urbanization and busy lifestyles, affordability and accessibility, rise in snacking culture..
The extruded snacks market size is expected to see strong growth in the next few years. It will grow to $84.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to health and wellness concerns, innovative flavors and variants, convenience and on-the-go lifestyles, product diversification, sustainable practices.. Major trends in the forecast period include product innovation, innovative flavors and textures, global flavor fusion, clean label and natural ingredients, snacking culture.
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Market Segmentation:
The extruded snacks market covered in this report is segmented -
1) By Type: Simply Extruded, Expanded, Co-Extruded
2) By Product: Potato, Corn, Rice, Tapioca, Mixed Grains, Other Products
3) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Retail, Other Distribution Channels
Major Driver - The Impact Of Rising Disposable Income On The Extruded Snacks Market
The huge growth in disposable income is significantly contributing to the growth of extruded snacks market. Disposable income is an amount available to individuals after tax. The disposable income grows depending on pay, expenses, tax, and the saving level of individuals. An increase in disposable incomes is indicative of a higher standard of living and signifies increased spending on packaged foods and savory snacks, thus also driving demand for extruded snacks. For instance, in 2023, according to an article published by the Office of National Statistics, UK-based executive office of the Statistics Authority published an article that said, median household disposable income increased by an average 0.7% per year between the year 2020 and 2022. Therefore, an increase in disposable income is driving the growth of the extruded snacks market.
Competitive Landscape:
Major companies operating in the extruded snacks market report are General Mills Inc., ITC Limited, Calbee Inc., Kellogg Company, Campbell Soup Company, JFC International Inc., Old Dutch Foods Inc., Grupo Bimbo SAB de CV, Amica Chips SPA, Want Want Holdings Limited, Axium Foods Inc., ICA Foods International Inc., Tropical Heat Group, Meiji Holdings Co. Ltd., Hain Celestial Group, Mikesell's Snack Food Company, Golden Flake Inc., Good Health Natural Products Inc., Great Lakes Potato Chip Co., Herr Foods Inc., Poore Brothers Inc., Popchips LLC, Medora Snacks LLC, Primizie Foods Inc., PepsiCo Inc., Shearer's Foods LLC, 7 Snacks LLC, Snyder's-Lance Inc., Snack Brands Inc., The Hain Celestial Group Inc.
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Top Trend - Transforming The Extruded Snacks Market With Baker Perkins' Cutting-Edge Technology
Major companies operating in the extruded snacks market are adopting new technologies such as extrusion sheeting technology to sustain their position. Extrusion sheeting technology is a manufacturing process that involves the extrusion of materials, typically plastic or rubber, to create thin, continuous sheets with a consistent thickness. This technology utilizes an extruder, a machine designed to melt and shape raw materials, to produce sheets of various sizes and specifications. For instance, in February 2023, Baker Perkins Ltd, a UK-based engineering company for food processing equipment, launched extrusion sheeting technology, to create creates opportunities for snack developments. This technology uses a twin-screw extruder with an innovative wide-slot die to produce a thin sheet of dough directly feeding a rotary cutter. The lines are simple to operate and, having fewer units, give significant reductions in cleaning time and maintenance costs. This technology can assist in manufacturing high-protein or high fiber snack products.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Extruded Snacks Market Characteristics
3. Extruded Snacks Market Trends And Strategies
4. Extruded Snacks Market - Macro Economic Scenario
5. Extruded Snacks Market Size And Growth
…..
27. Extruded Snacks Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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