Extrusion is a process that combines several operations such as mixing, cooking, kneading, shearing, shaping and forming. It is a popular means of preparing healthy snacks and ready to eat foods. Most commonly used sources for extrusion snacks are potato, rice, corn, tapioca, mixed grain, and others. Inclination of consumers towards ready to eat packaged foods is driving the market for extruded snacks. Moreover, key players are focusing on providing healthy snacks and various flavor alternatives which is boosting the growth of extruded snacks market.
Extruded snacks are derived through extrusion process of blending, shaping, drying, flavoring and packaging. Increasing working population and rising demand for ready to eat food is driving the growth of extruded snacks market. Moreover, availability of healthy snacks which provides requires nutrients and vitamins to the body is attracting the health conscious population and increasing the market penetration of extruded snacks market.
Innovation with flavors in extruded snacks is further boosting the growth of extruded snacks market. Moreover, aggressive marketing strategies and attractive packaging is adding fuel to the growth of extruded snacks market. Furthermore, intense competition is adding fuel to the R&D initiatives for extruded snacks, however it may hamper the growth of new entrants in the extruded snacks market.
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Some of the key players profiled in the global extruded snacks market are Calbee, Inc. (Japan), Kellogg Co. (U.S.), Frito-Lay North America, Inc (U.S.), ITC (India), Diamond Foods Inc. (U.S.), Mondelez International Inc. (U.S.), Old Dutch Foods, Inc. (U.S.)
Extruded snacks market can be segmented on the basis of type such as sweet and savory. Savory segment is dominating the extruded snacks market and is expected to witness substantial growth over the estimated period.
On the basis of sources, extruded snacks market is segmented into potato, rice, corn, tapioca, mixed grain, and others. Among all, potato segment is dominating the market. However, rice and corn are expected to witness a substantial growth in the coming years.
Based on the distribution channel, extruded snacks are segmented into store based and non-store based. Store based distribution channel is dominating the market among which hypermarkets and supermarkets are the major contributors based on self-picking shopping experience and multiple brand options available to the customers.
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The global extruded snacks market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the market based on a wide range of products available to the consumers at reasonable prices. India is the major contributor to the growth of extruded snacks market in Asia Pacific.
Europe and North America are expected to grow substantially over the forecast period owing to high inclination towards healthy snacking among the consumers. Moreover, continuous innovations is growing the extruded snacks market in the rest of the world. Latin America is witnessing the highest growth rate in extruded snacks market.