\ Extruded Snacks Market | Global Industry Overview, Sparkling Growth Rate by Trending Players and Forecasts by 2023
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Extruded Snacks Market | Global Industry Overview, Sparkling Growth Rate by Trending Players and Forecasts by 2023

January 12, 2018 --
By Miller Strentford

Market Overview:

Increasing awareness towards healthy snacking is supporting the growth of extruded snacks market at a global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Extruded snacks Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR during the forecast period.

Extruded snacks are derived through extrusion process of blending, shaping, drying, flavoring and packaging.  Extrusion is an important food processing technique for the preparation of nutritious food for which extruded snacks are gaining popularity as a healthy snack. Increasing health conscious population and their awareness towards healthy snacking is driving the growth of extruded snacks market. Most commonly used sources for extrusion snacks are potato, rice, corn, tapioca, mixed grain, and others. 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. High inclination of consumers towards ready to eat packaged foods is driving the growth of extruded snacks market.

Changing lifestyle and consumers’ consumption pattern is further driving the growth of extruded snacks market. Moreover, innovation with flavors in extruded snacks is boosting the growth of extruded snacks market. Furthermore, aggressive marketing strategies and attractive packaging is adding fuel to the growth of extruded snacks market.

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Latest Industry Updates:

Jan 2018 GEA plans to extend their portfolio following their acquisition of Pavan Group in Italy, which supplies extrusion and milling technology for processing pasta, snacks and breakfast cereals.

Dec 2017 Prataap Snacks, a leading Indian snack foods company with products spanning across various categories like extruded snacks, chips & namkeen, has entered the category of sweet snacks market through its wholly owned subsidiary with the launch of its new brand ‘Rich Feast’.

June 2017 The global beverages and snacks giant, Pepsico started local manufacturing of its globally popular snacks brand Doritos at its plant at Dhulagarh in West Bengal, where it makes Frito-Lay range of snacks.

May 2017 Naturell India launched a seven grain protein snack. Naturell’s new RiteBite Max Protein chips are India’s only extruded protein rich savory snacks which are neither fried nor baked.

Major Key Players:

With the entry of industry players in the Extruded snacks segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The key players are highly focusing on product innovations and new product launches which are healthy for the consumers. There is a high focus on advertising and attractive packaging among the players in the market. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

The key players profiled in extruded snacks 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.), and Old Dutch Foods, Inc. (U.S.) among many others.

Market Segments:

The global Extruded snacks market has been divided into type, source, distribution channel, and region.

Based on Type: Sweet, and Savory

Based on Source: Potato, Rice, Corn, Tapioca, Mixed Grains, and Others

Based on Distribution channel: Store Based, and Non-Store Based

Based on Region: North America, Europe, Asia Pacific, and ROW.

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Regional Analysis:

The global Extruded snacks market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Asia Pacific is dominating the market based on a wide range of variety available to the consumers at reasonable prices. India is the major contributor to the growth of extruded snacks market in Asia Pacific. Europe is expected to grow substantially over the forecast period owing to high inclination towards healthy snacking among the consumers. In North America, the U.S. is the major contributor of extruded snacks market. Moreover, continuous innovations and intense competition among key players is growing the extruded snacks market in rest of the world.

Source : http://heraldkeeper.com/

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