According to the report, the global extruded snack food market reached a value of USD 88.31 billion in 2022. Aided by the evolving consumer eating habits and the versatility of extruded snacks to cater to a wide range of taste profiles, the market is projected to further grow at a CAGR of 2.3% between 2023 and 2028 to reach a value of USD 101.22 billion by 2028.
Extruded snack foods refer to products produced by forcing a set of mixed ingredients through a machine that shapes and cooks them simultaneously. These products, which include items like corn curls, cheese puffs, and potato crisps, have become a staple in many households due to their crunchy texture, diverse flavours, and ease of consumption. Beyond taste, the extrusion process offers manufacturers the advantage of producing snacks that are consistent in size, shape, and quality, making them particularly appealing for mass production.
A key driver behind the global extruded snack food market growth is the modern consumer's increasingly hectic lifestyle. The shift towards fast-paced urban living has created a surge in demand for on-the-go snack options that are both tasty and convenient. Extruded snacks, with their portable packaging and extended shelf life, fit this bill perfectly.
Moreover, the adaptability of extruded snacks to align with varying consumer preferences has further boosted their market presence. Manufacturers have been quick to tap into regional taste preferences, churning out a wide variety of flavours ranging from spicy and tangy to sweet and savoury. This adaptability has allowed these snacks to make a mark in diverse markets globally.
The health and wellness trend, which has swept across the food and beverage sector, is a major factor boosting the extruded snack food market demand. Consumers are now more informed about their dietary choices and seek out products with healthier profiles. In response, manufacturers have started producing extruded snacks with reduced salt, less fat, and fortified with vitamins and minerals. The inclusion of whole grains, the use of natural flavours, and the elimination of artificial preservatives are some steps taken to appeal to health-conscious consumers.
Further impacting the extruded snack food market outlook is the rise of innovative marketing and packaging strategies. Bright, colourful packaging with clear nutritional information, coupled with engaging marketing campaigns, have made these products even more appealing, especially to younger consumers. Additionally, the use of social media influencers to promote these products has given brands a substantial boost in visibility and reach.
The evolving retail landscape, especially the growth of supermarkets, hypermarkets, and online retail, has provided a further impetus to the extruded snack food market. These retail channels offer a wide variety of choices to consumers and often promote extruded snacks through deals and promotions, leading to impulse purchases.
These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Extruded snack foods refer to products produced by forcing a set of mixed ingredients through a machine that shapes and cooks them simultaneously. These products, which include items like corn curls, cheese puffs, and potato crisps, have become a staple in many households due to their crunchy texture, diverse flavours, and ease of consumption. Beyond taste, the extrusion process offers manufacturers the advantage of producing snacks that are consistent in size, shape, and quality, making them particularly appealing for mass production.
A key driver behind the global extruded snack food market growth is the modern consumer's increasingly hectic lifestyle. The shift towards fast-paced urban living has created a surge in demand for on-the-go snack options that are both tasty and convenient. Extruded snacks, with their portable packaging and extended shelf life, fit this bill perfectly.
Moreover, the adaptability of extruded snacks to align with varying consumer preferences has further boosted their market presence. Manufacturers have been quick to tap into regional taste preferences, churning out a wide variety of flavours ranging from spicy and tangy to sweet and savoury. This adaptability has allowed these snacks to make a mark in diverse markets globally.
The health and wellness trend, which has swept across the food and beverage sector, is a major factor boosting the extruded snack food market demand. Consumers are now more informed about their dietary choices and seek out products with healthier profiles. In response, manufacturers have started producing extruded snacks with reduced salt, less fat, and fortified with vitamins and minerals. The inclusion of whole grains, the use of natural flavours, and the elimination of artificial preservatives are some steps taken to appeal to health-conscious consumers.
Further impacting the extruded snack food market outlook is the rise of innovative marketing and packaging strategies. Bright, colourful packaging with clear nutritional information, coupled with engaging marketing campaigns, have made these products even more appealing, especially to younger consumers. Additionally, the use of social media influencers to promote these products has given brands a substantial boost in visibility and reach.
The evolving retail landscape, especially the growth of supermarkets, hypermarkets, and online retail, has provided a further impetus to the extruded snack food market. These retail channels offer a wide variety of choices to consumers and often promote extruded snacks through deals and promotions, leading to impulse purchases.
Market Segmentation
The market can be divided based on material, type, extrusion method, distribution channel, and region.Market Breakup by Material
- Potato
- Corn
- Rice
- Tapioca
- Mixed Grains
- Others
Market Breakup by Type
- Simply Extruded
- Expanded
- Co-Extruded
Market Breakup by Extrusion Method
- Single Screw Processing
- Twin Screw Processing
Market Breakup by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Speciality Food Stores
- Online Retail
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global extruded snack food market.Some of the major players explored in the report are as follows:
- Baker Perkins
- Chipita S.A.
- Bunge North America, Inc.
- Clextral
- Others
About the Analyst
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Industry Opportunities and Challenges12 Value Chain Analysis
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Snack Food Market Overview
9 Global Extruded Snack Food Market Analysis
10 Regional Analysis
11 Market Dynamics
13 Competitive Landscape
14 Industry Events and Developments
List of Key Figures and Tables
Companies Mentioned
- Baker Perkins
- Chipita S.A.
- Bunge North America Inc.
- Clextral
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 90.34 Billion |
| Forecasted Market Value ( USD | $ 101.22 Billion |
| Compound Annual Growth Rate | 2.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 4 |
