By Type (Potato, Corn, Rice, Tapioca, Multigrain, Cereal Grains Other Than Rice or Corn, Legumes, Other), Form (Laminated, Tridimensional, Die-Cut, Gelatinized, Punched, Die-Distance), Flavour (Plain, Flavoured, Nutritional, Dry, Wet), Process (Frying, Hot Air Baking) Technique (Single-Screw Extruder, Twin-Screw Extruder), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Snack Pellets Market is expected to reach USD 3.70 billion by 2029 in the forecasted period of 2020-2029 with a substantial CAGR of 5.75%. Increasing demand for prepared and convenience products are driving the growth of the snack pellet market. However, the increasing concentration on facilities growth, marketing schemes and exchange of knowledge initiatives to increase awareness in order to improve the snack pellet consumption are also helped the growth of the snack pellet market in the forecasted period.
Top player technological advancement based on the introduction of new varieties and products encourages market growth of snack pellets in the forecast period. In addition, easy access to raw materials such as potato starch, cereal starch, wheat flour, etc. also increases market growth opportunities and attracts new industry players. However, prices of raw materials used to manufacture snack pellets are high in developing and non-developed countries, which may hinder the growth of the global snack pellet market.
Snack pellets are a semi-finished expandable snack produced by extrusion. The sizes, designs, tastes and textures are accessible in many different ways. Expansion of hot air and cooking of hot oil is two of the most common ways in which snack pellets can be turned into finished ready to eat. The processing of hot air snack pellets is deemed healthily, because unnecessary oil and acrylic amide are avoided from being used, which are common causes of coronary problems and certain particular cancers.
Snack Pellets Market Scope and Market Size
Snack Pellets Market has been segmented on the basis of type, form, flavour, process, technique.
Country Level Analysis of Snack Pellets Market
On the basis of region, the snack pellets market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.
During the forecast period, North America is expected to dominate the snack pellet market. Given the abundance of raw materials available and the presence of a strong food manufacturing industry, North America has the larger volume and value market share of snack pellets. Therefore, consumers prefer potato chips to a high amount. The largest proportion of potato snack pellets in the country was accounted for these reasons.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.
Key Developments in the Market
Competitive Analysis and Snack Pellets Market Share Analysis:
Snack Pellets Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of snack pellets market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Snack pellets market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated, and global presence. Snack Ppellets market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.
Key Market Competitors:
Few of the major competitors currently working in the snack pellets market are J.R. Short Snack Products, Michel Industrial Group, Pasta Foods, Quality Pellets, Akkel Group, Balance Foods LLC. , Chhajed Foods Pvt Ltd, LIMAGRAIN, Buro Pracht, Wabel, Liven, Le Caselle, and many others.
Key Insights in the report: