DUBLIN--(BUSINESS WIRE)--The "Snack Pellets Market by Type, Form, Technique, Flavor, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering
The snack pellets market is estimated to account for about USD 2.0 billion in 2018 and is projected to grow at a CAGR of 5.3%, to reach about USD 2.5 billion by 2023.
Hectic lifestyles of people and the need for on-the-go consumption have encouraged the savory snack manufacturing industry to produce new products that could meet these rising demands from the working-class consumers. In addition to this, the growing focus on facility expansion, marketing schemes, and information exchange programs for creating awareness to enhance the consumption of snack pellets have contributed to the growth of the market.
Consumer preferences in emerging economies such as China, India, Brazil, and the Middle East have gradually transitioned from traditional home-made breakfasts and snacking meals to ready-to-eat products over the last couple of decades. However, high acrylamide content in snack foods is projected to inhibit the market growth during the forecast period.
On the basis of type, the snack pellets market is segmented into potato, corn, rice, tapioca, multigrain, and others. The potato segment is estimated to account for the largest share in 2018. Potato starch is the most widely used ingredient in the production of snack pellets. This is due to the increasing demand for potato starch, as it contains longer starch chains in the amylopectin molecules, which enhances the quality of pellets. It also offers high bulk density, various flavors, and choices for consumers of all age groups.
Based on form, the die-face segment recorded the fastest growth in the snack pellets market. Die-face technology offers shapes that require minute cuts & edges. This enables manufacturers to produce shapes of animals and cartoon characters, attracting another class of consumers comprising children. The market for these forms of products is growing fast, mainly due to the diversity of products in terms of shapes, textures, colors, and flavors.
Market Dynamics
Drivers
- Rise in Demand for Prepared and Convenience Foods
- Increase in Innovation in Food Extrusion Processes
- Expansion of Retail Landscape in Developing Countries
Restraints
- High Acrylamide Content in Snack Foods
- Health Problems Associated With the Higher Consumption of Processed Potato Snacks
Opportunities
- Emerging Opportunities in the Extruded Snack Industry
- Government Initiatives and Investments to Expand the Processed and Extruded Food
Challenges
- Lack of Transport Infrastructure Support in Emerging Markets
- Operational Complexity During Food Processing
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Snack Pellets Market, By Type
7 Snack Pellets Market, By Form
8 Snack Pellets Market, By Flavor
9 Snack Pellets Market, By Technique
10 Snack Pellets Market, By Region
11 Competitive Landscape
12 Company Profiles
- Bach Snacks
- Grupo Michel
- J. R. Short Milling
- LE Caselle
- Leng-D'or
- Limagrain Crales Ingredients
- Liven S.A.
- Mafin
- Noble Agro Food
- Pasta Foods
- Pellsnack Products
- Van Marcke Foods
For more information about this report visit https://www.researchandmarkets.com/research/pl9jzz/2_billion_snack?w=4
