Extruded Snacks Market

Global Extruded Snacks Market Overview

Extruded Snacks Market Size was valued at USD 44.3 billion in 2022. The extruded snacks market industry is projected to grow from USD 47.4 Billion in 2023 to USD 72.0 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2023 - 2030). Savory Shacks' Growing Popularity, Accelerating Investments in Innovation and the Development of Novel Products, and Amplifying are the key market drivers enhancing the market growth.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Extruded Snacks Market Trends

• Savory Snacks' Growing Popularity Will Aid Market Growth

Snack foods are increasingly important in modern consumer life. Ready-to-eat (RTE) product demand is expected to surge in the coming years as consumers seek convenient snacks with enticing sensory and textural profiles. Because of its ease of preparation and ability to produce a variety of textures and shapes that appeal to consumers, extrusion processing has been widely used in the production of RTE cereal-based snacks. Customers are looking for snacks with flavorful organoleptic properties. The savoury snacks are eaten at tea and breakfast times, as well as throughout the day. Extruded snacks market growth is primarily driven by the rising popularity of savoury snacks such as crisps, crisp snacks, popcorn nuts, savoury biscuits, and breaded snacks.

Additionally, accelerating innovation and product development investments to accelerate growth. The rapidly evolving snacks industry has created new opportunities for manufacturers to innovate their processing and preservation technologies, as well as their modern product offerings. The growing popularity of healthier products drives technological advancements in the production of low-fat, whole-grain, and preservative-free snacking options. The extruded category has entered the mainstream, and the market is experiencing a variety of trends. A broader consumer base is now looking for healthier alternatives and new flavour combinations. Consumers nowadays look for clean labels such as gluten-free, non-GMO, vegan, and allergen-free as well as nutritional information on snack packets. Consumers also seek protein and fiber-rich foods, which presents manufacturers with tremendous opportunities to incorporate novel flavours and shapes into their product portfolio.

Furthermore, the increased demand for "better-for-you" products that promote well-being has a significant impact on the snack market. This is expected to boost research and development efforts across the industry in order to provide healthier options in the extruded snacks category.

Extruded Snacks Market Segment Insights

Extruded Snacks Type Insights

The Extruded Snacks Market segmentation, the type section is separated into sweet and savory. Because of its widespread consumption, the savory category is regarded as the global market's dominant segment. Consumers favor savory snacks as a quick lunch, which is driving the type sector. The savory section is expected to grow at the expected rate during the projected period.

Figure 2: Extruded Snacks Market, by type, 2022 & 2030 (USD billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Extruded Snacks Source Insights

The Extruded Snacks Market segmentation, based on source, the market is divided into wheat, potato, corn, rice, mixed grains, and others. The wheat segment is projected to dominate the Extruded Snacks Market. Wheat is lower in fat and carbs than potatoes and corn, and it has more nutritional fiber. Wheat is becoming popular as a healthy snack alternative, and producers are developing products in a range of flavors. Businesses are also marketing their products to consumers who want such healthy snacks and providing healthier options by replacing conventional raw materials.

Extruded Snacks distribution channel Insights

The Extruded Snacks Market data according to the distribution channels, into store-based and non-store categories. Supermarkets and hypermarkets are included in the store-based section, which is how consumers can purchase food items. Numerous nations around the world have a significant population of them. The store-based market is being driven by the increase in demand for self-picking food products to improve the shopping experience and the desire to learn about various brands. This section of the distribution channel is therefore regarded as the leading segment.

Extruded Snacks Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. As a result of the availability of a large variety of goods at competitive prices, the Asia Pacific extruded snacks market region is recognized as the key dominant region. The largest portion of the global market for extruded snacks is therefore in the Asia Pacific area. India is regarded as the market region's largest contributor due to its extensive consumption. The growing urbanisation and demand for snack foods in developing markets such as India, China, Malaysia, and Indonesia are expected to drive market growth. The region's market growth is being fueled by the region's growing millennial population and their growing interest in innovative flavours.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: EXTRUDED SNACKS MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe extruded snacks market accounts for the second-largest market share. Due to the rising interest in clean-label, vegetarian, and vegan products. Consumers in the region are constantly looking for new products that meet their needs for healthy food. Further, the Germany extruded snacks market held the largest market share, and the UK extruded snacks market was the fastest growing market in the European region

The North American Extruded Snacks Market is expected to grow at the fastest CAGR from 2022 to 2030. In the North American region, the demand for on-the-go foods has increased significantly in recent years. Consumer interest in convenience food products has grown as more people enter the formal labour force. Moreover, China‘s extruded snacks market held the largest market share, and the Indian extruded snacks market was the fastest growing market in the North American region

Extruded Snacks Key Market Players & Competitive Insights

Leading market players are investing a lot of money in R&D to expand their product offerings, which will spur further market growth for extruded snacks. The significant market developments include the introduction of new products, contractual agreements, mergers and acquisitions, increased investment, and collaboration with other organizations. Market participants are also undertaking a variety of strategic activities to expand their global footprint. To grow and thrive in a market that is becoming more competitive and growing, competitors in the extruded snacks sector must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business methods used by manufacturers in the worldwide extruded snacks industry to benefit customers and develop the market sector. The extruded snack sector has recently given medicine some of the most important advantages. Major players in the extruded snack market, including Calbee Inc. (Japan), Kellogg Co. (U.S.), Frito-Lay North America Inc. (U.S.), ITC (India), Diamond Foods Inc. (U.S.), and others, are seeking to increase market demand by funding R&D initiatives.

The Kellogg Company, also known as Kellogg's, is an American global food manufacturing firm based in Battle Creek, Michigan. Kellogg's manufactures cereal and convenience foods such as crackers and toaster pastries and sells them under various well-known brand names such as Corn Flakes, Rice Krispies, Frosted Flakes, Pringles, Eggo, and Cheez-It. "Nourishing families so they can develop and thrive," says Kellogg's mission statement. In October 2021, Kellogg's is preparing to introduce its limited-edition mince pie-flavored Wheat in the coming week. Fans of mince pies will be able to bring a little bit of the holiday joy into their homes throughout the Christmas season thanks to the cereal's smooth, subtly flavored sultana center.

PepsiCo, Inc. is an American multinational food, snack, and beverage company with its headquarters in Purchase, a hamlet in Harrison, New York. The term "ecosystem" refers to a group of people who work in the construction industry. It is in charge of the production, sale, and promotion of its goods. PepsiCo was created in 1965 by the merging of the Pepsi-Cola Company and Frito-Lay, Inc. Since then, PepsiCo has grown from its namesake product, Pepsi Cola, to include a hugely diverse variety of food and beverage companies. In November 2020, In order to increase its client base, PepsiCo Greater China Region (GCR) entered into a strategic partnership with Alibaba Group

Key Companies in the extruded snacks market includes

• Calbee Inc. (Japan)
• Kellogg Co. (U.S.)
• Frito-Lay North America Inc (U.S.)
• ITC (India)
• Diamond Foods Inc. (U.S.)
• Mondelez International Inc. (U.S.)
• Old Dutch Foods Inc. (U.S.) among others

Extruded Snacks Industry Developments

In November 2020 ChickP Protein Ltd. introduced a brand-new kind of starch. This food technology startup created chickpea starch. The term "ecosystem" refers to a group of people who work in the construction industry.

In August 2021 Bikano purchased the license in order to introduce a completely new line of extruded products. The popular Chota Bheem figure that appears on Indian children's television will be used by this Indian corporation. Bikano

In March 2021 Dr. Eugenio Bortone, a well-known food scientist, extrusion process expert, and creator of Frito-Twisted Lay's Cheetos, Sapientia, has found and applied for four important patents pertaining to the protein twist and crispy puff style snack.

Extruded Snacks Market Segmentation

Extruded Snacks Type Outlook

• Sweet
• Savory

Extruded Snacks source Outlook

• Potato
• Rice
• Corn
• Tapioca
• Mixed Grain
• Others

Extruded Snacks Distribution channel Outlook

• Store-Based
• Non-Store Based

Extruded Snacks Regional Outlook

• North America

  • US
  • Canada

• Europe

  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe

• Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific

• Rest of the World

  • Middle East

  • Africa

  • Latin America