Extruded Products Market Expected to Reach USD 302.5 Billion by 2033 - Persistence Market Research

The global extruded products market, particularly in the high carbon bearing steel segment, is witnessing robust growth, driven by rising demand across industries such as automotive, aerospace, and food processing. In 2023, the overall extruded products market is valued at approximately US$ 144.2 billion, with cold extrusion processes commanding over 60% of this share due to their precision and energy efficiency.

A major growth driver is the increasing application of extruded products in baked goods and snack items, with the extruded baked products market alone reaching a value of US$ 39.3 billion in 2023. Europe holds a dominant regional share due to consumer preference for health-conscious, organic extruded snacks, while cold extrusion continues to lead among manufacturing processes due to its consistency in structural integrity and reduced thermal stress on materials.

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➤ Key Highlights from the Report

➤ Cold extrusion accounts for over 60% of global market share in 2023.
➤ The market for extruded baked products is valued at US$ 39.3 billion in 2023.
➤ Europe and North America are key regions due to demand for organic and healthy snacks.
➤ Bunge Limited is focusing on expanding its distribution across the Middle East and Africa.
➤ San Carlo Gruppo Alimentare S.P.A. is strengthening its global presence through acquisitions.
➤ Twin-screw extrusion technology is being widely adopted for better product consistency.

Market Segmentation

The extruded products market is segmented by product type, source, and extrusion process. Among product categories, food products dominate, with sub-segments including snacks, breakfast cereals, bakery items, and baby foods. High carbon bearing steel extrusions also see extensive use in mechanical parts requiring strength and wear resistance. On the other hand, animal feed and frozen food sectors are showing notable growth due to rising global consumption and demand for shelf-stable products.

Based on the extrusion process, the market is categorized into hot and cold extrusion. Cold extrusion leads with more than 60% of the market share owing to its efficiency and superior product finish. From a sourcing perspective, ingredients like corn, rice, grains, cereals, and potatoes dominate the food-based segment, while high carbon steel and alloys dominate industrial extrusion applications.

Regional Insights

Europe leads the global extruded products market, thanks to its growing organic snack sector and strong regulatory frameworks supporting food safety. Consumers in countries like Germany, France, and the UK are shifting toward healthier options, thus driving up demand for nutrient-rich extruded products.

North America, particularly the U.S., follows closely, driven by consumer inclination toward convenient snacking options and innovations in high-performance extruded steel products. Companies in the region are also investing heavily in supply chain optimization and strategic alliances to enhance product availability and quality.

Market Drivers

One of the primary growth drivers of the extruded products market is increased demand for convenient, ready-to-eat food products. As urban populations grow and lifestyles become busier, snacks and baked products with longer shelf lives and nutritional value are gaining traction. Additionally, industries like automotive and aerospace rely on high carbon bearing steel extrusions for components that demand high fatigue strength and resistance to wear and deformation.

The rise of organic and clean-label products is another key trend. As consumers become more health-conscious, manufacturers are introducing extruded snacks free from artificial additives, which is fueling market expansion, especially in premium segments.

Market Restraints

Despite its growth trajectory, the market faces several challenges. The cost of raw materials, especially for high-grade steel and organic ingredients, can hinder profitability. Moreover, the energy-intensive nature of extrusion-particularly hot extrusion-raises concerns about sustainability and operational expenses.

Additionally, strict regulations related to food safety and metal content in extruded items can delay product launches and increase compliance costs, especially for companies expanding into new geographic regions.

Market Opportunities

The surge in demand for plant-based and gluten-free extruded products offers immense potential. Innovations in plant protein extrusion, such as from peas or lentils, cater to vegan consumers and are opening up new revenue streams. Moreover, markets in Asia-Pacific and Latin America remain relatively untapped and present opportunities for companies willing to invest in local production and distribution networks.

Emerging applications of twin-screw extrusion technology also create avenues for innovation, enabling better texture, uniformity, and product customization. These technologies are being adopted across both food and industrial domains to diversify product offerings and improve efficiency.

Frequently Asked Questions

➤ How Big is the Extruded Products Market in 2023?
➤ Who are the Key Players in the Global Market for High Carbon Bearing Steel Extrusions?
➤ What is the Projected Growth Rate of the Extruded Products Market?
➤ What is the Market Forecast for Extruded Products by 2032?
➤ Which Region is Estimated to Dominate the Industry through the Forecast Period?

Company Insights

✦ PepsiCo
✦ Conagra Foods, Inc.
✦ Bunge Limited
✦ ITC Ltd
✦ The Kellogg Company
✦ Premier Foods PLC
✦ Calbee, Inc.
✦ Clextral S.A.S
✦ Old Dutch Foods, Inc.
✦ San Carlo Gruppo Alimentare S.P.A.
✦ Shearer's Foods, LLC
✦ Lorenz Bahlsen Snack-World GmbH & Co KG
✦ Wyandot Snacks
✦ Intersnack Group GmbH & Co. Kg
✦ Ralston Foods, Inc.
✦ J.R. Short Milling Company
✦ LENG-D'OR
✦ The Brecks Co Ltd
✦ Amica Chips SpA

■ In January 2023, San Carlo Gruppo Alimentare S.P.A. expanded its product distribution network into new European territories through strategic acquisitions.
■ In February 2023, Bunge Limited initiated a logistics upgrade to strengthen its Middle Eastern and African operations, enhancing supply chain resilience.

Conclusion

The extruded products market, particularly within the high carbon bearing steel and food product segments, is set for sustainable growth over the next decade. Cold extrusion remains the preferred method due to its versatility and cost-efficiency, while health-driven innovation continues to influence consumer trends in the food segment. As global players invest in R&D, supply chains, and sustainability, opportunities are ripe in emerging regions and niche segments like plant-based or fortified snacks.

With a forecasted steady CAGR and rising application scope across industries, the market presents significant opportunities for both established players and new entrants aiming to capitalize on this resilient and dynamic sector.

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