Extruded Snack Food Market Size, Top Companies, Growth and Forecast 2024-2032

Summary:

• The global extruded snack food market size reached USD 51.3 Billion in 2023.
• The market is expected to reach USD 70.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
• Europe leads the market, accounting for the largest extruded snack food market share.
• Potato accounts for the majority of the market share in the type segment due to their widespread popularity and diverse product offerings.
• Supermarkets/hypermarkets holds the largest share in the extruded snack food industry.
• Technological advancements in food processing are improving production efficiency and enhancing product quality.
• Growing environmental awareness is encouraging the production of eco-friendly packaging, driving demand for sustainably packaged snacks.

Industry Trends and Drivers:

• Rising Consumer Demand for Convenience Foods:

The global shift toward busier lifestyles is fueling demand for convenience foods, significantly driving the extruded snack food market. Consumers, particularly in urban areas, prefer ready-to-eat snacks that require little to no preparation time. As people spend more time at work or engaged in various activities, the need for quick and easy food options grows. This demand has encouraged companies to develop a variety of extruded snacks, from chips to puffed products, to meet these changing dietary preferences. Additionally, with an increasing number of consumers seeking snacks that can be consumed on the go, manufacturers are focusing on producing portable and lightweight packaging that aligns with the fast-paced nature of modern life. This trend is particularly evident in both developed and developing nations, making convenience foods a key growth driver in the extruded snack food sector globally.

• Growing Urbanization and Increased Disposable Income:

The expansion of urban populations globally is contributing to the growth of the extruded snack food market. As people move to cities, they gain access to higher-paying jobs and better living standards, increasing their disposable income. With more financial resources, consumers are willing to spend more on snack foods, particularly on premium or innovative products. Urbanization also brings exposure to global trends, such as snacking between meals or consuming packaged foods during travel. The increasing availability of retail outlets, both online and offline, in urban areas allows easier access to a wide variety of snack options. This, in turn, helps brands expand their reach and influence purchasing decisions. The demand for affordable, convenient, and indulgent snack options continues to rise as urban populations grow, making this demographic shift a crucial driver for market growth.

• Health-Conscious Consumers Driving Innovation in Healthier Snacks:

Health-conscious consumers are reshaping the extruded snack food market by driving demand for healthier, low-fat, and nutrient-rich snacks. With growing awareness of the impact of diet on long-term health, consumers are seeking alternatives to traditional high-calorie, high-fat snacks. Brands are responding by reformulating products to include whole grains, plant-based proteins, and reduced levels of salt, sugar, and unhealthy fats. The growing popularity of gluten-free, vegan, and organic snacks is also contributing to this trend. Manufacturers are exploring innovative production techniques to create snacks that retain flavor and texture while adhering to health-focused nutritional guidelines. The trend toward healthy eating is particularly strong among younger consumers, who are more likely to read labels and choose snacks with clean, natural ingredients. This demand for healthier options is pushing continuous innovation in the extruded snack market, further propelling its growth.

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Extruded Snack Food Market Report Segmentation:

Breakup By Type:

• Potato
• Corn
• Rice
• Tapioca
• Mixed Grains
• Others

Potato snacks held the largest market share by type, owing to their broad appeal and variety in flavor and forms.

Breakup By Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Food Stores
• Online Retail
• Others

Supermarkets/hypermarkets led the distribution channel segment because of their accessibility and large product assortments.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Europe was the top regional market, fueled by increasing consumption of on-the-go snack foods and product innovation.

Top Extruded Snack Food Market Leaders:

The extruded snack food market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

• Arca Continental S.A.B de C.V.
• Axium Foods, Inc.
• Schenck Process Holding GmbH
• Bunge Loders Croklaan Group B.V. (Bunge Limited)
• Groupe Legris Industries
• Snacks Développement SAS (Europe Snacks Group)
• Shearer's Foods LLC

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