The Extruded Snacks Market is predicted to be valued at USD 79.1 billion in 2023 and is estimated to surpass USD 150.4 billion by 2033. The sales of extruded snacks record a CAGR of 6.6% during the forecast period.
Key factors propelling the market size include:
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 6.6% |
| Market Valuation (2023) | USD 79.1 billion |
| Market Valuation (2033) | USD 150.4 billion |
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The significantly growing population, urbanization, and consumption of savory food are the factors likely to boost the market share during the forecast period. The rising craving for eating various ingredients, spicy and tangy snacks, is flourishing the market growth.
The top companies are launching innovative products to seek consumers' attention and increase the sales of extruded snacks.
The growing curiosity to taste different exotic flavor and texture are promoting market opportunities. The food industry is maintaining the balance by experimenting with the unique flavor of food for every age group, which consequently drive the market size. Growing awareness by the food industries towards health and providing nutritious food to their consumers are increasing the market opportunities.
For instance, a few food companies are providing low-calorie and fat snacks to maintain the diet of health-conscious consumers. They use ingredients that are easy to digest, lightweight, and convenient are consequently increasing the sales of extruded snacks.
The increasing demand for potato-extruded snacks among consumers is growing market opportunities. Adopting potato extruded snacks due to their fabulous taste, high fiber, lightweight, and crispiness fuels the market growth. Fiber helps to prevent cholesterol, heart disease, and high blood sugar, which results into bolstering the extruded snacks market.
The manufacturer's customized better ingredients and different spices to flavor their snacks are driving market opportunities. The key companies in the market are Frito Lay Inc, Old Dutch Foods, Universal Robina Corporation, ITC, JFC International, and Nestle.
Principal Consultant
According to Future Market Insights, the global extruded snacks market is projected to expand at a healthy 6.6% CAGR during the forecast period. Historically, the market registered a CAGR of 5.4% between 2017 and 2022.
The market grew at a moderate pace in the historical period by securing a significant CAGR. The growing population and improving consumer demand increase the sales of extruded snacks.
Globally, the rising consumers eating habits and growing production of extruded snacks by key market players contribute to maximum revenue. Apart from it, business faces several obstacles, such as strict trade, shifting consumer preferences, supplying raw materials, and others.
Consumers have recently shifted towards healthy snacks to get better metabolic benefits. It provides vitamins, weight loss, and healthy nutrients, uplifting market share.
Short Term (2023 to 2026): The rising demand for extruded snacks due to increasing disposable income, millennial, and consumer preferences.
Medium Term (2026 to 2029): The growing urbanization, easy-to-eat habits, and packed foods are increasing the adoption of extruded snacks.
Long Term (2029 to 2033): The rising adoption of healthy snacks, easy-to-digest food items, and the development of exotic flavor foods are expected to drive market opportunities.
The market is estimated to reach USD 150.4 billion during the forecast period. Historically, the market stood at USD 74.3 billion from 2017 to 2022.
| Segments | Product Type |
|---|---|
| Top Category | Potato |
| Historic CAGR | 3.9% |
| Forecast CAGR | 4.2% |
| Segments | Type |
|---|---|
| Top Category | Simply Extruded |
| Historic CAGR | 4.9% |
| Forecast CAGR | 5.7% |
The product type category is divided into rice, corn, potato, and mixed grains. In the market, the potato category captures a CAGR of 4.2% during the foreseen time. Global enterprises have been urged to create customized spicy snacks with potato adoption in response to changing taste preferences.
The rising consumers demand for potato snacks due to their crunchy texture, and mouthwatering taste is expected to bolster the market in recent times. Historically, the market secured a CAGR of 3.9% between 2017 and 2022.
Based on type, the simply extruded type category dominates the global market by capturing a CAGR of 5.7% during the forecast period. The availability of several easy-to-eat snacks, low-calorie, and variety of flavors are increasing the adoption of simply extruded type.
The consumer's growing demand for corn curls, popcorn, and fries is boosting the demand for simply extruded type. Historically, the simple extruded captured a CAGR of 4.9% between 2017 and 2022.
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Based on distribution channels, the market is further divided into hypermarkets/supermarkets, e-commerce platforms, specialty stores, convenience, and retail stores. The hypermarkets/supermarket category leads the global market by registering a CAGR during the forecast period. Consumers prefer to visit these markets to select the best-extruded snacks from various brands.
The hypermarkets/supermarkets advertise their products and provide special discount offers, vouchers, and low-price items, which attract consumers' attention. The market vendors are innovating, experimenting, and promoting their brand with premium quality to increase sales. These market experts are changing the taste, flavor, and spices and introducing unique items to keep changing consumers' tastes.
| Country | United States |
|---|---|
| CAGR (2017 to 2022) | 4.0% |
| CAGR (2023 to 2023) | 4.5% |
| Valuation (2023 to 2033) | USD 26.2 billion |
| Country | United Kingdom |
|---|---|
| CAGR (2017 to 2022) | 7.2% |
| CAGR (2023 to 2023) | 7.7% |
| Valuation (2023 to 2033) | USD 9.0 billion |
| Country | China |
|---|---|
| CAGR (2017 to 2022) | 5.0% |
| CAGR (2023 to 2023) | 5.4% |
| Valuation (2023 to 2033) | USD 6.4 billion |
| Country | Japan |
|---|---|
| CAGR (2017 to 2022) | 6.6% |
| CAGR (2023 to 2023) | 7.7% |
| Valuation (2023 to 2033) | USD 6.1 billion |
| Country | South Korea |
|---|---|
| CAGR (2017 to 2022) | 5.2% |
| CAGR (2023 to 2023) | 7.3% |
| Valuation (2023 to 2033) | USD 3.0 billion |
The United States is expected to lead the global market by securing a CAGR of 4.5% with a valuation of USD 26.2 billion during the forecast period. The growing demand for various snacks during special occasions is boosting the adoption of extruded snacks. Increasing consumer preferences towards healthy alternative snacks such as oats, cereal, and wheat are driving the United States extruded snacks market.
The manufacturers are growing the food sector by developing healthy, organic, and natural food items that are surging the United States market. Historically, the United States market captured a CAGR of 4.0% between 2017 and 2022.
The United Kingdom is one of the key markets in the globe, securing a CAGR of 7.7% with a valuation of USD 9.0 billion during the forecast period. Increasingly fast pace life, work culture, and growing population are bolstering the adoption of extruded snacks in the United Kingdom market. Moreover, changing consumers' daily tastes and boredom with eating homemade food are further increasing the sales of extruded snacks in the country.
Kraft Heinz, PepsiCo, and Kellogg Company are the top companies expanding the United Kingdom market. Historically, the United Kingdom secured a CAGR of 7.2% between 2017 and 2022.
China is contributing a CAGR of 5.4% with a valuation of USD 6.4 billion during the forecast period. Growing urbanization, the majority of the population, and a fast-paced environment are booming China extruded snacks market. Increase in the working hours, consumer preferences, and changing eating habits enhance the market expansion.
Consumers rely on ready-to-eat foods, which include a variety of extruded snacks as well. Conversely, the rising disposable incomes and popularity of potato chips and other wafers drive huge market revenue. The low-cost food items also propel the market growth. Historically, China market occupied a CAGR of 5.0% between 2017 and 2022.
Japan is one of the leading nations in Asia Pacific region, securing an impressive CAGR of 7.7% with a valuation of USD 6.1% billion during the foreseen time.
The growing trends of innovating traditional homemade dishes and establishing an international brand fuel the Japan market. The availability of hypermarkets and the popularity of western snacks are increasing the demand for extruded snacks in Japan.
Traditional snacks for diets, the availability of various spices, and affordable food items are driving Japan's extruded snacks market. Historically, Japan contributed a CAGR of 6.6% between 2017 and 2022.
South Korea is likely to secure a CAGR of 7.3% with a valuation of USD 3.0 billion during the forecast period.
Manufacturers are innovating exotic flavor snacks by adopting healthy raw materials such as oats, rice, and soya. The growing industrialization, population, and consumers craving for packed spicy food propel South Korea's extruded snacks market.
Consumers' choice of western cuisine and trending fast consumption of snack are increasing market opportunities in South Korea. Historically, South Korea secured a CAGR of 5.2% between 2017 and 2022.
The market is fragmented by various key players present in the globe during the forecast period. The key vendors implement several innovative policies and processes to develop unique food items that uplift market growth. The key manufacturers use extruded snack machines to provide multiple extruded snacks processed.
They are following several marketing tactics to increase market growth, including mergers, acquisitions, partnerships, agreements, and product launches. The development of new ancillary equipment that can be attached to extruded to improve textures and eating properties.
Recent Developments:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data | 2017 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, and South Africa, Türkiye |
| Key Segments Covered | Product Type, Type, Distribution Channel, Region |
| Key Companies Profiled | Frito Lay Inc.; PepsiCo, Inc.; ITC,; Kellogg’s; Calbee; Old Dutch Foods; Modalez International Inc; Robina Corporation; JFC International; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The extruded snacks market is predicted to capture a 6.6% CAGR throughout 2033.
Food industry drives the extruded snacks market.
The extruded snacks market is expected to reach USD 79.1 billion by 2033.
The extruded snacks market is anticipated to surpass USD 150.4 billion in 2023.
The United States leads the extruded snacks market.
1. Executive Summary | Extruded Snacks Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Potato 5.2. Corn 5.3. Wheat 5.4. Rice 5.5. Oats 5.6. Multigrains 5.7. Others 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Type 6.1. Simply Extruded 6.2. Expanded 6.3. Co-Extruded 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hypermarkets & Supermarkets 7.2. Convenience Stores 7.3. E-Commerce Platform 7.4. Specialty Stores 7.5. Retail Stores 7.6. Others 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Frito Lay Inc. 18.2. PepsiCo, Inc. 18.3. ITC 18.4. Kellogg’s 18.5. Calbee 18.6. Old Dutch Foods 18.7. Mondelez International Inc. 18.8. Robina Corporation 18.9. JFC International 18.10. General Mills Inc. 19. Assumptions & Acronyms Used 20. Research Methodology
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Extruded Snacks Market
