Snack Pellets Market: Segmented: By Type (Potato, Corn, Rice, Tapioca, Multigrain, and Others), By Form (Laminated, Tridimensional, Die-face, Gelatinized), By Technique (Twin-screw extruder, Single-screw extruder) And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[170+ Pages Research Report] Snack Pellets market to surpass USD 3.28 billion by 2032 from USD 1.88 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2022-32.
Snack pellets are products made with corn potato, tapioca, rice, corn, multigrain, or other raw materials. They are semi-finished products which are sold to snack manufacturers who process them by hot air baking or frying and converted into ready-to eat snacks by adding different flavoring ingredients. Snack pellets have wide popularity as they have bulk density, long shelf life, stability, and are convenient to store. They are available in the form of laminated, gelatinized, tridimensional, and die-face snack pellets. Snack Pellets are produced using twin-screw extruder, and single-screw extruder technique.
Snack Pellets market is expected to project a notable CAGR of 5.2% in 2032.
Increasing demand for convenience foods with changing lifestyle and increasing disposable income, growing health awareness, innovation in technologies, and expansion of snack pellets manufacturing facilities will drive the market growth.
Multigrain segment to grow at the highest rate during the forecast period 2022-32
Snack Pellets market is classified on the basis of type into Potato, Corn, Rice, Tapioca, Multigrain, and Others. Multigrain segment is projected to grow at the highest CAGR during the forecast period. The growth is attributed to the high nutritional value of multigrain snack pellets. These pellets have high fiber content and low fat content as they are made using various grains, hence offer various health benefits.
Gelatinized segment to hold the largest market share during the forecast period 2022-32
Snack Pellets market is classified on the basis of form into Laminated, Tridimensional, Die-face, and Gelatinized. Gelatinized segment is projected to hold the largest market share during the forecast period. Gelatinized pellets have a uniform thickness, are flat, and have holes on their surface. The thickness is important for maintaining the shape definition while toasting or frying.
Single-screw extruder segment to hold the largest market share during the forecast period 2022-32
Snack Pellets market is classified on the basis of technology into Twin-screw extruders, Single-screw extruders. Single-screw extruder is projected to hold the largest share during the forecast period. Single-screw extruders are relatively easy to maintain and operate. There is a variety of single-screw extruders offered by key market players which are efficient in producing complex snack products.
Increase in the Demand of Convenience Food
Increasing demand of convenience food is driving the growth of Snack pellet market. In today’s fast paced world, people are extremely busy and they have less time and energy to prepare their own meal. Customers are gravitating towards food products that are equally delicious, ready-to eat and take less time and efforts to prepare. Changes in the living standards and increase in disposable income has induced the consumption of snack pellets. Also, the constant urge of snacking among children and young adult has also increased the demand of various snacks.
Growing Health Awareness and Innovation in Technologies
Growing health awareness among consumers has induced the demand for healthy snacks with low calories. Consumers are switching to non-oily snacks which are prepared using hot air expansion technique. Various marketing schemes such as free coupons, discounts, etc. are garnering the attention of customers to try different snack pellets. Innovation in technologies has propelled the production of a large quantity of snack pellets in different sizes, textures, colors and shapes at a comparatively lower cost. Furthermore, the expansion of snack pellets manufacturers in emerging economies is creating new growth opportunities for the market growth.
Shifting Consumer Preference and High Prices of Raw Materials
Presence of another substitute of snack pellets along with shifting consumer preferences is impeding the growth of the market. Moreover, rising prices of raw materials used in the production of snack pellets will restrain market growth.
Snack Pellets market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Europe is dominating the global market and is expected to grow at a significant rate during the forecast period. The growth is attributed to the rising demand for savory snacks and growing preference over other processed food. North America to hold significant share in the market owing to the growing demand for convenient food products. Expansion of manufacturing units in Asia Pacific will boost the market growth in the region.
Covid-19 had severely affected economic activities across the world. Many countries had to impose lockdowns and strict social distancing norms in order to control the spread of Coronavirus. Lockdowns have disrupted the global supply chains, procurement of raw materials and availability of skilled labor which has resulted in shutdown of many poultry feed companies. The pandemic has marginally impacted the Snack Pellets market. However, the storage of food and beverages with long shelf life has led to the increasing consumption of snack pellets.
Snack Pellets Market is further segmented by region into:
Snack Pellets Market Segments:
|Market size value in 2021||USD 1.88 billion|
|Revenue forecast in 2032||USD 3.28 billion|
|Growth Rate||CAGR of 5.2% from 2022 to 2032|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2022 to 2032|
|Report Coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Form, Technique, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Calbee, Limagrain Céréales Ingrédients, BACH SNACKS SAL, Liven S.A., J.R. Short Snack Products, GRUPO MICHEL, Akkel Group, Almounajed Food Industries, LC America, Inc., Chhajed Foods Pvt. Ltd., Gustinos, Fiorentini Alimentari S.p.A., Le Caselle SPA, Noble Agro Food Products Private Limited, and Other Prominent Players|
Snack Pellets market size was estimated at USD 1.88 billion in 2021 and is expected to reach USD 3.28 billion in 2032.
Snack pellets are products made with corn potato, tapioca, rice, corn, multigrain, or other raw materials. They are semi-finished products which are sold to snack manufacturers who process them by hot air baking or frying and converted into ready-to eat snacks by adding different flavoring ingredients.
Multigrain, Gelatinized, Single-screw extruder segment accounted for the largest Snack Pellets market share.
Key players: Calbee, Limagrain Céréales Ingrédients, BACH SNACKS SAL, Liven S.A., J.R. Short Snack Products, GRUPO MICHEL, Akkel Group, Almounajed Food Industries, LC America, Inc., Chhajed Foods Pvt. Ltd., Gustinos, Fiorentini Alimentari S.p.A., Le Caselle SPA, Noble Agro Food Products Private Limited, and Other Prominent Players are the key players in the Snack Pellets market.
Increase in the Demand of Convenience Food and Growing Health Awareness and Innovation in Technologies are the factors driving the Snack Pellets market.
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