NEW YORK, Dec. 9, 2015 /PRNewswire/ -- Snack food manufacturers have witnessed tremendous growth in the processed food industry in the last five years. This has considerably affected the snack pellets industry and an upsurge was recorded in this industry. New technologies have initiated the emergence of innovative products derived from cereals and lentils. Developing countries present a viable market for manufacturers, as these regions are emerging as potential markets with the availability of raw materials. The rise in the disposable incomes of the growing middle-class population in developing countries is also creating a demand for a broader range of products.
This report provides a complete analysis of the key types of snack pellets, key companies and a chronology of developments with respect to new products, investments, agreements, and acquisitions. It also analyzes the market dynamics and highlights key market drivers, restraints, and opportunities for the key regions of the world.
Leading players such as Intersnack Group GmbH & Co. KG (Germany), Leng-d'Or S.A. (Spain), Limagrain Cereales Ingredients (France), Grupo Industrial Michel (Mexico), J.R. Short Milling Company (U.S.), LIVEN S.A. (Spain), Quality Pellets A/S (Denmark), Dalmaza Food Industries Company (Saudi Arabia), Pasta Foods Ltd (U.K.), and Balance Foods, Inc. (U.S.) dominates the market. New technologies have initiated the emergence of innovative products that could help in cost reduction. To maintain a competitive edge in the snack pellets market, the key players were observed to prefer investments and expansions as strategies to expand into new and untapped markets, building a new customer base for long-term client relationships, and acquiring local players of the industry. This has not only enabled key players to expand their geographical reach, but has also reinforced their market position by gaining a larger share in terms of revenue and product portfolios. Small-scale players also adopted this strategy to expand their businesses globally by investing in the establishment of manufacturing facilities and technical service centers in various regions.
The size of the global market for snack pellets was USD 5.53 billion in 2014. It is projected to grow at competitive CAGRs of 6.0% and 5.2%, in terms of value and volume respectively, from 2015 to 2020. Europe led the market for snack pellets in 2014, in terms of value and volume, owing to substantial growth in the snack food industry and high consumption of extruded snacks. The markets in the Asia-Pacific region are estimated to grow at a competitive rate.
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