Extruded Snacks Market is Estimated to Value $74.52 Billion By 2027 | CAGR: 4.7%
The global Extruded Snacks Market size is expected to reach
USD 74.52 billion by 2027, expanding at a CAGR of 4.7% over the forecast
period, according to a new report by Grand View Research, Inc. Increasing
consciousness among consumers regarding their snacking habits and rising
adoption of healthy products during snacking time are the key factors boosting
the market growth.
Moreover, growing party culture among millennials and
working-class population across the globe is anticipated to offer growth
opportunity for the market over the forecast period. Extruded snacks are
considered beneficial in many ways as they help in weight management and
improving metabolism. Furthermore, these healthy products offer various
nutrients and vitamins to the body, thus promoting the adoption among all the
consumer groups.
Europe emerged as the largest regional market for extruded
snacks in 2019 with a share of more than 40.0% based on volume owing to high
consumption of extruded snacks on social occasions as well as for on-the-go
snacking. In recent years, the region has witnessed a significant increase in
the demand for wholegrain wheat and other cereals snacks. These trends are
anticipated to boost the demand for extruded snacks in the region over the
forecast period.
The extruded snacks market is fragmented owing to the
presence of a large number of local as well as international players. Moreover,
major market share is captured by some of the strong players, including Nestlé
S.A.; The Kellogg Company; Calbee, Inc.; PepsiCo, Inc.; and Campbell Soup
Company, with large customer base across the globe. Moreover, major players are
adopting various strategies, including merger and acquisition, for expanding their
customer base. For instance, in October 2018, Calbee, Inc. acquired a British
brand, Seabrook Crisps in order to strengthen its presence in Europe.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/extruded-snacks-market
Extruded Snacks Market Report Highlights
- By product,
potato accounted for a share of more than 25% based on volume as well as
revenue in 2019. It is expected to maintain its lead over the forecast
period owing to large consumption of potato based extruded snacks,
including chips and pallet snacks
- The online
retail distribution channel is anticipated to be the fastest growing
segment with a revenue-based CAGR of 5.4% from 2020 to 2027. The growth of
online retail is attributed to its easy, comfortable, and convenient
accessibility, coupled with doorstep delivery
- Europe
emerged as the largest regional market for extruded snacks in 2019 with a
share of more than 40.0% based on volume owing to high consumption of
product on social occasions as well as for on-the-go snacking
- Key players
in the market include Nestlé S.A.; The Kellogg Company; General Mills
Inc.; PepsiCo, Inc.; Campbell Soup Company; Calbee, Inc.; ITC Limited; Old
Dutch Foods Inc.; Europe Snacks; and Universal Robina Corporation.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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