North America Snack Pellets Market Forecast to 2030 - Regional Analysis - by Source, Type, and Form

The North America snack pellets market was valued at US$ 2.13 billion in 2022 and is expected to reach US$ 2.80 billion by 2030; it is estimated to register a CAGR of 3.5% from 2022 to 2030.

Rising Popularity of RTE Snacks Among Population Fuels North America Snack Pellets Market

The surge in the consumption of high-quality convenience food owing to changing lifestyles is one of the biggest trends in the food industry. A hectic lifestyle and extended working hours drive the demand for ready-to-eat food as consumers want to save cooking time and effort. Moreover, the rising number of dual-income households in developed and developing countries also contributes to the rising demand for packaged food. Ready-to-eat (RTE) snacks are also witnessing massive demand, especially among working professionals, due to the rising snacking trend in corporations. Small coffee and snack breaks to relieve work stress drive the demand for RTE snacks. Light snacks such as popcorn, chips, and puffs are popular among the younger population and children.

The rising demand for RTE snacks is driving the North America snack pellets market . Snack manufacturers are focusing on offering snacks with innovative shapes and textures to attract a large number of consumers. For instance, in June 2022, GEA Group developed a new snack format called “Cinderella’s Slippers," a snack pellet shaped like a slipper. The new format is developed to meet the challenge of dipping the snacks in the sauce without getting the fingers coated. The Cinderella Slippers snack pellet is available in three versions: Classic, Perforated, and Ribbed. Thus, the rising popularity of RTE snacks among consumers and growing innovations drive the North America snack pellets market.

North America Snack Pellets Market Overview

The high snack consumption in the US, coupled with the rising demand for on-the-go snack options, is majorly propelling snack pellets market growth. Americans snack more in the summer, whether they're inside, outdoors, or on the move. From boosting road trip morale to complementing an outdoor potluck. Consumers in the US are inclined toward snack products that offer nutritional benefits such as low fat, minimally processed, and high fiber content.

Thus, the demand for snack pellets is increasing with the growing prevalence of various lifestyle disorders such as atherosclerosis, diabetes, stroke, and obesity. According to data published by the U.S. Census data and Simmons National Consumer Survey (NHCS), in 2020, 24.1 million Americans used ten or more packages of nutritional snacks. Thus, the strongly growing healthy food consumption trend boosts the demand for snack pallets in the country.

North America Snack Pellets Market Revenue and Forecast to 2030 (US$ Million)

North America Snack Pellets Market Segmentation

The North America snack pellets market is categorized into source, type, form, and country.

By source, the North America snack pellets market is segmented into potato, corn, rice, tapioca, multigrain, and others. The potato segment held the largest share of the North America snack pellets market share in 2022.

In terms of type, the North America snack pellets market is segmented into plain and flavored. The plain segment held a larger share of the North America snack pellets market share in 2022.

Based on form, the North America snack pellets market is segmented into laminated, die face, tri dimensional, and others. The laminated segment held the largest share of the North America snack pellets market share in 2022.

Based on country, the North America snack pellets market is segmented into the US, Canada, and Mexico. The US segment held the largest share of North America snack pellets market in 2022.

Balance Foods Inc, JR Short Milling Co, Le Caselle SpA, LENG-D'OR SAU, Mafin SRL, and Societe Cooperative Agricole Limagrain are some of the leading companies operating in the North America snack pellets market.

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America snack pellets market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the North America snack pellets market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America snack pellets market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.