The food extrusion market has exhibited impressive growth, expanding from $85.1 billion in 2023 to $91.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. Projections indicate it will reach $125.92 billion in 2028, driven by rising demand for processed and convenience foods, and an expanding pet food industry. The future growth will be fueled by the increasing popularity of healthy snacks, functional foods, and the adoption of food extrusion technologies in developing regions. Significant trends include advancements in extrusion equipment, product diversification, and sustainable practices.
Major Driver In The Food Extrusion Market
The anticipated rapid growth in the consumption of processed food is expected to be a key driver for the food extrusion market. Processed products, which are cooked and packed, fall under the category of ready-to-eat food, presenting a significant market segment. The food extrusion process employed in the preparation of packaged and processed food enhances the digestibility of proteins and starches while eliminating anti-nutritional factors. Changing lifestyles and increased disposable incomes contribute to the rising demand for ready-to-eat products, as they offer time and effort savings. As reported by the Agricultural and Processed Food Products Export Development Authority (APEDA) for the period from April 2021 to February 2022, India's processed food product exports reached 21.5 billion, indicating substantial market growth. This surge in processed food consumption is poised to play a crucial role in shaping the food extrusion market in 2023, 2024, and 2028.
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Food Extrusion Market Competitive Landscape
Snactek Food Machines Pvt. Ltd., Bunge Loders Croklaan Group B.V., Hiwant International Inc., Techtronics Machinery Pvt. Ltd., Arca Continental S.A.B de C.V., GEA Group AG, Coperion GmbH, Schenck Process Holding GmbH, Bühler Holding AG, Groupe Legris Industries, Aasted ApS, Axium Foods Inc., Clextral Inc., Baker Perkins Ltd, Wenger Manufacturing Inc., The Bonnot Company, Reading Bakery Systems, PacMoore Products Corporate, Amandus Kahl GmbH & Co. KG, C.A.PICARD SAS, Pavan SPA, American Extrusion International, FBF Italia Srl Company, Akron Tool & Die Co Inc, Doering Systems Inc., Grace Food Processing & Packaging Machinery, Almex USA Inc., Shandong Light M&E Co. Ltd, Diamond America Inc., Snacks Développement SAS
Key Food Extrusion Market Trend
Technological innovations are a key trend in the food extrusion market. Companies are developing new technologies to maintain their market position. For example, in August 2021, GEA, a German company specializing in food extrusion machinery, introduced the Tru Twin series high-capacity extruder. This model, based on screw assembly technology, allows users to increase production capacity by up to 40%. It is applicable in both food and pet food industries and aids in enhancing plant production capacities.
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Food Extrusion Market Segmentation
The food extrusion market covered in this report is segmented –
1) By Extruder: Single Screw, Twin Screw, Contra-Twin Screw
2) By Process: Cold, Hot
3) By Product Type: Savory Snacks, Breakfast Cereals, Breads, Flours and Starches, Textured Protein, Functional Ingredients, Other Product Types
By Geography:The regions covered in the food extrusion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the food extrusion market in 2023.
The Food Extrusion Global Market Report 2024 furnishes information about the global food extrusion market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
