Global Extruded Snacks Market by Type, Raw Material, Manufacturing Method, Distribution Channel, and Region - Forecast to 2026
DUBLIN, March 2, 2020 /PRNewswire/ -- The "Extruded Snacks Market by Type (Simply extruded, Expanded, Co-extruded), Raw Material (Wheat, Potato, Corn, Oats, Rice, Multigrain), Manufacturing Method (Single-screw, Twin-screw), Distribution Channel, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The extruded snacks market is estimated to be valued at USD 48.3 billion in 2019 and is projected to grow at a CAGR of 4.4%, recording a value of USD 65.2 billion by 2026.
Owing to the changing consumer lifestyle that has caused snack food to replace traditional, full-fledged meals and an increase in disposable income has caused the snack market to grow rapidly. The rising investment in the retail industry has resulted in an increase in the number of hypermarkets and supermarkets, which has caused the easy availability of snack products to the customers. However, the demand for healthy, low-calorie snacks has made the manufacturers bring in more and more innovation to the products to increase the market share.
The market for expanded snacks is projected to record the highest CAGR during the forecast period.
The expanded snacks segment in the market is projected to grow at a significant rate. Many multigrain snacks of high fiber and nutrient content are produced through this process. The rise in health awareness has increased the popularity of expanded snacks. Consumers have started to prefer snacks that are mostly baked or roasted. Many ingredients, such as corn, multiple grains, and rice, are used for these snack productions. These snacks are low in bulk density and are popularized as high-fiber and low-calorie healthy snacks.
The extruded snacks made from wheat account for the largest market share during the forecast period.
The wheat segment in the extruded snacks market is estimated to account for the largest share in 2019. Wheat is low in fat and carbohydrates as compared to potato and corn, and also high in dietary fibers. Wheat is gaining popularity as a healthy snack option, and manufacturers have been developing products in a wide range of flavors. Companies are also marketing their products by targeting consumers who prefer such healthy snacks and are providing healthier alternatives by replacing conventional raw materials.
Asia Pacific to grow at the highest CAGR in the extruded snacks market between 2019 and 2026.
The North American region dominated the market in 2018, and the Asia Pacific region is projected to be the fastest-growing market during the forecast period in the extruded snacks market. Factors driving the Asia Pacific market growth include the increasing adoption of Western culture in the region, growing disposable income, and on-the-go snacking trend among the urban population due to busy lifestyles. Due to the developing economic conditions across the majority of the countries, consumers in the region prefer the consumption of cheaper products, and hence, mostly opt for generic or domestic brands. Due to the growing trend of hypermarkets & supermarkets within the region, the availability of such snacks has become much easier, which is further bolstering the market growth in the Asia Pacific.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Overview of the Extruded Snacks Market
4.2 Extruded Snacks Market, By Region
4.3 Extruded Snacks Market, By Raw Material
4.4 Extruded Snacks Market, By Type
4.5 North America: Extruded Snacks Market, By Type and Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Changing Consumer Lifestyles and Consumption Patterns Increase the Need for Convenience in Foods
5.2.1.2 Expansion of the Retail Industry Resulting in A Huge Number of Hypermarkets and Supermarkets Across the Globe
5.2.1.3 Immense Growth in the Disposable Income of Consumers Encourages Impulse Purchases
5.2.2 Restraints
5.2.2.1 Increased Cost of Raw Material and Production
5.2.3 Opportunities
5.2.3.1 Increase in the Demand for Healthy Snacks
5.2.3.2 Technological Advancements in Extrusion & Processing
5.2.3.3 Government Initiatives and Investments to Fuel the Demand for Processed and Extruded Food
5.2.4 Challenges
5.2.4.1 High Competition From Local Players of an Unorganized Market
5.2.4.2 Lack of Transport and Infrastructure Support in Emerging Markets
5.3 Regulations
5.4 Supply Chain
5.5 YC-YCC Shift
6 Extruded Snacks Market, By Type
6.1 Introduction
6.2 Simply Extruded Snacks
6.2.1 Traditionally One of the Highest Consumed Extruded Snack Globally
6.3 Expanded Snacks
6.3.1 There has Been A Rising Demand for Baked Expanded Snacks
6.4 Co-Extruded Snacks
6.4.1 On-The-Go Snacking Trend has Been Driving Its Demand
7 Extruded Snacks Market, By Raw Material
7.1 Introduction
7.2 Wheat
7.2.1 Health-Conscious Consumers Prefer More of Wheat-Based Snacks
7.3 Potato
7.3.1 Potato is the Most Popular Ingredient for Extruded Snacks
7.4 Corn
7.4.1 Corn is Healthier Than Potato as A Raw Material for Extruded Snacks
7.5 Multigrain
7.5.1 Multigrain Snacks are Becoming A Popular Choice Among Health-Conscious Consumers
7.6 Oats
7.6.1 Awareness of Health Benefits of Oats Makes It A Preferred Option Among Young Consumers
7.7 Rice
7.7.1 Rice is One of the Popular Choices in the Asia Pacific
7.8 Other Raw Materials
8 Extruded Snacks Market, By Method of Manufacturing
8.1 Introduction
8.2 Single Screw
8.2.1 Easy Maintenance and Low Operation Cost Drive the Use of Single-Screw Extruders
8.3 Twin Screw
8.3.1 Greater Flexibility and Higher Productivity Drive the Use of Twin-Screw Extruders
9 Extruded Snacks Market, By Distribution Channel
9.1 Introduction
9.2 Hypermarkets & Supermarkets
9.2.1 One-Stop Destination That is Complementary to Impulsive Buying in the Millennial Generation
9.3 Convenience Stores
9.3.1 Fast Shopping, Fast Exit Complement Newer Lifestyles
9.4 E-Commerce Platforms
9.4.1 A High-Growth Opportunity for Extruded Snacks
9.5 Other Distribution Channels
10 Extruded Snacks Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 High Consumption of Snacks By the Millennial Generation is Causing the Extruded Snacks Market to Flourish in the US
10.2.2 Canada
10.2.2.1 The Snack Industry in Canada is Expanding Due to Its Export of Snacks to Other Countries
10.2.3 Mexico
10.2.3.1 The Increase in Awareness of Healthy Snacks Consumption is Driving the Extruded Snacks Market in Mexico
10.3 Europe
10.3.1 UK
10.3.1.1 Busy Lifestyles of Consumers Boosting the Demand for Snacks in the Country
10.3.2 Germany
10.3.2.1 High-Income Levels of Consumers Driving the Market
10.3.3 France
10.3.3.1 Availability of A Wide Variety of Snacks
10.3.4 Italy
10.3.4.1 The Increasing Number of the Working Population is A Market Driver
10.3.5 Spain
10.3.5.1 Innovations in Vegetable Snacks Driving Growth
10.3.6 Netherlands
10.3.6.1 Changing Lifestyles of Consumers Resulting in the Rise in Demand for Snacks
10.3.7 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Dramatic Change in Consumer Lifestyles in the Urban Areas Drives the Growth of Extruded Snacks Market
10.4.2 Japan
10.4.2.1 The Easy Accessibility to Supermarkets and Hypermarkets in Japan has Caused the Snack Market to Acquire A Larger Market Share
10.4.3 India
10.4.3.1 Millennial Population is the Prime Reason for the High Demand for Snacks
10.4.4 Indonesia
10.4.4.1 Affordable Price and Easy Availability of Raw Materials Leading to the Fast Growth of the Extruded Snacks Market in Indonesia
10.4.5 Australia
10.4.5.1 Demand for High-Value and Gourmet Products has Caused the Extruded Snack Industry in Australia to Witness Significant Growth
10.4.6 New Zealand
10.4.6.1 Consumer Willingness to Pay for Better-Quality Savory Snacks is Driving the Innovation in the Snack Industry
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Brazil
10.5.1.1 Sophistication and High-Value Associated With Packaged Snack Products Drives the Brazilian Snack Market
10.5.2 Argentina
10.5.2.1 Wide Range of Product Launches in the Country in Recent Past
10.5.3 Rest of South America
10.6 Rest of the World
10.6.1 Middle East
10.6.1.1 International Brands Occupy A Larger Share in the Middle East
10.6.2 Africa
10.6.2.1 Low Disposable Income Across A Few African Countries Limits Growth Opportunities
11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping
11.2.1 Terminology/Nomenclature
11.2.1.1 Visionary Leaders
11.2.1.2 Innovators
11.2.1.3 Dynamic Differentiators
11.2.1.4 Emerging Companies
11.2.2 Strength of Product Portfolio
11.3 Ranking of Key Players
11.4 Competitive Scenario
11.4.1 New Product Launches
11.4.2 Expansions & Investments
11.4.3 Acquisitions
11.4.4 Joint Ventures
12 Company Profiles
12.1 Calbee, Inc.
12.2 Pepsico, Inc.
12.3 Kellogg Company
12.4 Campbell Soup Company
12.5 General Mills, Inc.
12.6 ITC Limited
12.7 Grupo Bimbo, S.A.B. De C.V.
12.8 Old Dutch Foods Inc.
12.9 Lorenz Snack-World
12.10 Amica Chips S.P.A.
12.11 Universal Robina Corporation
12.12 Balance Foods, Inc.
12.13 JFC International
12.14 Ballreich Snack Food Company
12.15 Barrel O' Fun Snack Foods Co., Inc.
12.16 Chipita S.A.
12.17 Tropical Heat
12.18 Griffin's Foods Limited
12.19 ICA Foods International
12.20 SAN Carlo
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