What Has Been the Growth Trajectory of the Extruded Snacks Market?
The extruded snacks market has seen considerable growth due to a variety of factors.
• In recent times, the market size for extruded snacks has demonstrated a significant rise. The market is projected to expand from $65.24 billion in 2024, escalating to $69.17 billion in 2025. This underscores a compound annual growth rate (CAGR) of 6.0%. Factors contributing to growth during the historic period include a shift in consumer tastes, increasing urbanization and hectic lifestyles, affordability and availability, coupled with a surge in snacking habits.
What Can Be Expected from the Extruded Snacks Market By 2029?
The Extruded Snacks market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the extruded snacks market is predicted to experience a significant increase in its size, reaching $90.21 billion by 2029 with a compound annual growth rate (CAGR) of 6.9%.
Factors contributing to this growth include health and wellness awareness, introduction of novel tastes and variants, convenient and fast-paced lifestyles, product diversification, and sustainable practices. During the forecast period, the prevailing trends will revolve around product innovation, experimentation with flavors and textures, the fusion of global flavors, and the increased use of clean labels and natural ingredients in sync with the growing snacking culture.
What Are the Critical Driver Fuelling The Extruded Snacks Market's Growth?
A significant rise in disposable income, the money left with individuals after taxes, is hugely propelling growth in the extruded snacks market. The growth of disposable income depends on individuals' earnings, expenditure, tax, and savings. A surge in disposable income indicates a more elevated standard of living, implying a rise in the consumption of packaged food items and savory snacks, thereby pushing the demand for extruded snacks. For example, as reported by the Bureau of Economic Analysis, a government agency based in the US, disposable personal income in the United States was $21,782 billion in August 2024, up from $20,666 billion in August 2023. Thus, the rise in disposable income is a driving factor for the expansion of the extruded snacks market.
How Is The Extruded Snacks Market segmented?
The extruded snacks market covered in this report is segmented –
1) By Type: Simply Extruded, Expanded, Co-Extruded
2) By Product: Potato, Corn, Rice, Tapioca, Mixed Grains, Other Products
3) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Retail, Other Distribution Channels
Subsegments:
1) By Simply Extruded Snacks: Corn Snacks, Rice Snacks, Potato Snacks
2) By Expanded Snacks: Puffed Snacks, Aerated Snacks
3) By Co-Extruded Snacks: Filled Snacks, Layered Snacks
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What New Trends Are Influencing The Extruded Snacks Market?
Prominent firms in the extruded snack industry are leveraging innovations such as extrusion sheeting technology to maintain their dominance. The process of extrusion sheeting involves the conversion of materials, commonly plastic or rubber, to produce thin, uniformly thick sheets. This technique employs an extruder, a specialized machine that can melt and mould raw substances, yielding sheets of varying dimensions and attributes. For instance, Baker Perkins Ltd., an engineering firm based in the UK specializing in food processing technology, unveiled this technology in February 2023. This opened up new possibilities for inventing snack products. The technology incorporates a twin-screw extruder equipped with an innovative wide-slot die, generating a thin dough sheet that directly feeds a rotary cutter. The operations are straightforward; the fewer components lead to a significant cutback in cleaning time and maintenance expenses. This technology is particularly useful for the production of snacks rich in proteins or fiber.
Who Are the Key Players In The Extruded Snacks Market?
Major companies operating in the extruded snacks market include:
• General Mills Inc.
• ITC Limited
• Calbee Inc.
• Kellogg Company
• Campbell Soup Company
• JFC International Inc.
• Old Dutch Foods Inc.
• Grupo Bimbo SAB de CV
• Amica Chips SPA
• Want Want Holdings Limited
• Axium Foods Inc.
• ICA Foods International Inc.
• Tropical Heat Group
• Meiji Holdings Co. Ltd.
• Hain Celestial Group
• Mikesell’s Snack Food Company
• Golden Flake Inc.
• Good Health Natural Products Inc.
• Great Lakes Potato Chip Co.
• Herr Foods Inc.
• Poore Brothers Inc.
• Popchips LLC
• Medora Snacks LLC
• Primizie Foods Inc.
• PepsiCo Inc.
• Shearer's Foods LLC
• Snyder's-Lance Inc.
• Snack Brands Inc.
What Is The Most Dominant Region In The Extruded Snacks Market?
Asia-Pacific was the largest region in the extruded snacks market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the extruded snacks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
