According to IMARC Group’s latest report, titled “Extruded Snack Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global extruded snack food market size reached US$ 49.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 62.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.86% during 2023-2028.
Extrusion cooking is a high-temperature short-time (HTST) process that is used to produce snacks that are predominantly made using starches, wheat, maize, soy, sorghum, or cereal flour. The ingredients are forced to flow under high pressure through various conditions of heat application, mixing, and shear to give the ingredients a desired shape. The high pressure inactivates enzymes and reduces microbial contamination. At present, ready-to-eat (RTE) snack food products are witnessing a significant surge in demand due to their affordability, convenience, appearance, taste, wide availability, and texture.
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Extruded Snack Food Market Trends:
The rapidly expanding food and beverage (F&B) industry, hectic schedules, and increasing working populace are some of the primary factors providing a boost to the global market growth. The rising consumer expenditure power and the surging adoption of convenience foods are other growth-inducing factors. Moreover, key market players are introducing gluten-free product variants that contain grains, such as amaranth, chia, rice, quinoa, teff, and buckwheat. They are also launching products that are suitable for consumption among regional and local populations, which, in turn, is accelerating the market growth. Besides this, the burgeoning population, changing dietary habits, easy product availability in hypermarkets, supermarkets, and online retail stores, and the rising demand for RTE food products are creating a positive outlook for the market.
Extruded Snack Food Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the extruded snack food market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the extruded snack food market on the basis of breakup by type. distribution channel and region.
Breakup by Type:
- Mixed Grains
Breakup by Distribution Channel:
- Convenience Stores
- Specialty Food Stores
- Online Retail
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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