The Extruded Snacks Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Extruded Snacks Market is estimated to be USD 28.126 billion in 2016 and predicted to rise to USD 34.21 billion by 2021 with a CAGR of 4%. The market is segmented by type (Potato, Corn, Rice, Tapioca, Mixed grain, others) distribution channel (Hypermarkets, Independent retailers, Convenience stores). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The demand for extruded snack products is expected to rise with the years to come. One of the major drivers of this market is rising urbanization. Due to this, a large number of people are living a fast paced life and don’t have time to eat proper meals. This leads to them resorting to ready to eat food including extruded snack, hence boosting the market. With increased disposable incomes and the easy accessibility to these foods, the market is expected to grow at a very fast rate. Another factor which affects their widespread use is the cheap cost. One major factor which could be restraining the growth of the market is people’s rising consciousness towards their health and lifestyle. Snack foods contain a lot of carbohydrates and fats, making it unhealthy for consumption.
By type, the potato segment accounts for about 34% of the total market revenue. Increasing per capita consumption in regions such as North America and Europe is the major driver for the growth. Manufacturers have started producing local flavored snacks in order to cater better to region specific people. By distribution channel, hypermarkets lead the segment forming a major 53% of the total market share. This is mainly due to the choices customers get from different brands under the same roof.
Asia-Pacific is currently leading the market and has the highest CAGR. This is mainly due to the widespread availability of different options at pocket friendly prices. . Furthermore, consumers in this region are product cost conscious and competitive prices offered from prime companies ultimately boosts product demand in this region. Within this region, the Indian market is reported to grow at a rate of 12% making it the fastest growing market. North America and Europe are also the major players of the market. Latin America is said to have the second highest CAGR after the Asia-Pacific region.
Some of the major companies dominating the market are Calbee, Diamond Foods, Kellogg’s, ITC, Old Dutch Foods, Frito-lay and Amica Chips, Mondelez International, JFC International, Aperitivos Flaper, Bag Snacks, Universal Robina and Arca Continental.
Browse through the full report at https://www.marketdataforecast.com/market-reports/extruded-snacks-market-2680/ and checkout our recent reports in the Ingredients at https://www.marketdataforecast.com/subcategory/food-ingredients-10/ For more insights and up-to-date industry news don’t forget subscribing to our newsletters.